WT Wealth Management grew its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,257 shares of the iPhone maker's stock after buying an additional 1,283 shares during the quarter. Apple accounts for 3.2% of WT Wealth Management's holdings, making the stock its 4th largest holding. WT Wealth Management's holdings in Apple were worth $10,332,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of Apple by 10.6% in the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock valued at $136,074,372,000 after buying an additional 55,935,105 shares in the last quarter. FMR LLC boosted its position in shares of Apple by 5.3% in the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock worth $84,779,231,000 after purchasing an additional 18,224,005 shares in the last quarter. Geode Capital Management LLC grew its stake in Apple by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock worth $77,542,863,000 after buying an additional 20,483,787 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Apple by 6.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker's stock valued at $22,121,656,000 after buying an additional 5,893,741 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Apple by 1.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,568,390 shares of the iPhone maker's stock valued at $21,335,435,000 after buying an additional 1,742,087 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.
Insider Buying and Selling at Apple
In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the transaction, the chief operating officer now owns 390,059 shares of the company's stock, valued at $87,377,116.59. This represents a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the sale, the chief executive officer now owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. This represents a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 187,021 shares of company stock worth $41,760,140 in the last ninety days. 0.06% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of research analysts have issued reports on AAPL shares. Oppenheimer lowered shares of Apple from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 29th. DA Davidson raised their price objective on Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. cut their price objective on shares of Apple from $270.00 to $245.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Jefferies Financial Group restated an "underperform" rating and set a $170.62 target price (up from $167.88) on shares of Apple in a research report on Friday, May 2nd. Finally, Redburn Partners set a $230.00 price target on Apple in a research report on Friday, January 31st. Four analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $235.80.
Get Our Latest Stock Report on Apple
Apple Price Performance
AAPL traded up $1.04 during trading on Friday, reaching $198.53. The company's stock had a trading volume of 36,406,804 shares, compared to its average volume of 56,072,498. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The firm has a fifty day simple moving average of $208.09 and a two-hundred day simple moving average of $227.38. The company has a market cap of $2.98 trillion, a price-to-earnings ratio of 31.51, a PEG ratio of 2.44 and a beta of 1.27. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. Apple had a return on equity of 160.83% and a net margin of 24.30%. The company had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same quarter in the previous year, the company posted $1.53 earnings per share. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.
Apple declared that its board has initiated a stock buyback program on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.
Apple Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 12th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. Apple's payout ratio is 16.20%.
About Apple
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Free Report)
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
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