Atlantic Family Wealth LLC Makes New $1.94 Million Investment in Apple Inc. (NASDAQ:AAPL)

Atlantic Family Wealth LLC bought a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 7,757 shares of the iPhone maker's stock, valued at approximately $1,943,000. Apple comprises approximately 2.3% of Atlantic Family Wealth LLC's investment portfolio, making the stock its 7th biggest position.

Other hedge funds have also recently made changes to their positions in the company. Drystone LLC acquired a new position in Apple in the fourth quarter valued at approximately $25,000. Life Planning Partners Inc acquired a new position in shares of Apple during the 4th quarter valued at $47,000. SPX Gestao de Recursos Ltda acquired a new stake in Apple in the third quarter worth $71,000. Teachers Insurance & Annuity Association of America bought a new stake in Apple in the third quarter valued at $77,000. Finally, Compass Planning Associates Inc acquired a new position in shares of Apple during the fourth quarter valued at about $96,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AAPL has been the topic of a number of research reports. Bank of America dropped their price target on Apple from $250.00 to $240.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Scotiabank lowered shares of Apple to a "market perform" rating in a research note on Friday. Rosenblatt Securities downgraded shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 target price for the company. in a research report on Friday. Tigress Financial lifted their price target on Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a research note on Thursday, April 3rd. Finally, Citigroup lowered their price objective on Apple from $275.00 to $245.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $233.25.

Insiders Place Their Bets

In related news, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the sale, the chief financial officer now owns 4,569 shares in the company, valued at approximately $941,214. This represents a 50.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 35,493 shares of the business'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 sale, the chief operating officer now owns 390,059 shares of the company's stock, valued at approximately $87,377,116.59. This represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 187,021 shares of company stock valued at $41,760,140. Company insiders own 0.06% of the company's stock.

Apple Stock Down 3.7 %

Shares of NASDAQ:AAPL traded down $7.97 on Friday, hitting $205.35. 100,891,435 shares of the company traded hands, compared to its average volume of 56,620,753. The company has a market cap of $3.08 trillion, a PE ratio of 32.60, a PEG ratio of 2.44 and a beta of 1.26. The stock has a 50 day simple moving average of $212.15 and a 200-day simple moving average of $228.63. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. During the same quarter in the prior year, the company posted $1.53 earnings per share. The business's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 12th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.51%. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is currently 15.87%.

Apple declared that its Board of Directors has approved a stock buyback plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Apple Profile

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.