Daner Wealth Management LLC Invests $819,000 in Apple Inc. (NASDAQ:AAPL)

Daner Wealth Management LLC acquired a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,447 shares of the iPhone maker's stock, valued at approximately $819,000. Apple makes up approximately 0.6% of Daner Wealth Management LLC's holdings, making the stock its 24th largest position.

Other large investors have also modified their holdings of the company. Drystone LLC acquired a new stake in Apple in the 4th quarter worth about $25,000. Life Planning Partners Inc purchased a new stake in shares of Apple during the fourth quarter worth approximately $47,000. SPX Gestao de Recursos Ltda acquired a new position in Apple in the 3rd quarter valued at $71,000. Teachers Insurance & Annuity Association of America acquired a new stake in Apple during the 3rd quarter worth $77,000. Finally, Compass Planning Associates Inc purchased a new stake in shares of Apple during the fourth quarter worth $96,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the sale, the senior vice president now directly owns 179,158 shares in the company, valued at $40,072,269.86. The trade was a 17.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the transaction, the chief executive officer now owns 3,280,295 shares of the company's stock, valued at $733,637,976.75. The trade was a 3.19 % decrease in their position. 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 quarter. Company insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AAPL shares. Barclays lowered their price target on shares of Apple from $197.00 to $173.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. Wedbush cut Apple from an "outperform" rating to a "neutral" rating in a report on Friday. Tigress Financial lifted their price target on Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a report on Thursday, April 3rd. UBS Group dropped their price objective on shares of Apple from $236.00 to $210.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Finally, Scotiabank cut shares of Apple to a "market perform" rating in a research report on Friday. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $235.80.

Apple Stock Performance

AAPL traded up $0.03 during trading on Tuesday, hitting $198.92. 49,654,320 shares of the stock were exchanged, compared to its average volume of 56,219,123. 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 Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The stock has a fifty day moving average price of $211.32 and a two-hundred day moving average price of $228.33. The firm has a market capitalization of $2.99 trillion, a P/E ratio of 31.57, a PEG ratio of 2.44 and a beta of 1.27.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter in the prior year, the firm earned $1.53 EPS. Apple's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple announced that its board has authorized a share repurchase program on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 12th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is currently 16.20%.

Apple Company 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.