10,910 Shares in Apple Inc. (NASDAQ:AAPL) Purchased by Mpwm Advisory Solutions LLC

Mpwm Advisory Solutions LLC bought a new position in Apple Inc. (NASDAQ:AAPL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 10,910 shares of the iPhone maker's stock, valued at approximately $2,732,000. Apple comprises about 2.0% of Mpwm Advisory Solutions LLC's holdings, making the stock its 13th biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Drystone LLC purchased a new stake in Apple during the fourth quarter valued at $25,000. Life Planning Partners Inc bought a new stake in shares of Apple during the 4th quarter valued at about $47,000. Conquis Financial LLC purchased a new stake in shares of Apple during the 4th quarter valued at about $63,000. LSV Asset Management purchased a new stake in shares of Apple during the 4th quarter valued at about $65,000. Finally, Pillar Financial Advisors LLC bought a new position in shares of Apple in the 4th quarter worth approximately $82,000. Institutional investors own 67.73% of the company's stock.

Apple Trading Down 1.4%

Shares of AAPL opened at $195.64 on Wednesday. The stock has a market capitalization of $2.92 trillion, a PE ratio of 30.47, a P/E/G ratio of 2.22 and a beta of 1.22. The company's fifty day moving average is $202.21 and its 200 day moving average is $222.47. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The business had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business's revenue was up 5.1% on a year-over-year basis. During the same period last year, the company posted $1.53 EPS. Sell-side analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple announced that its board has authorized a share buyback 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 purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a $0.26 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.53%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is currently 16.20%.

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the sale, the insider now owns 15,533 shares of the company's stock, valued at $3,233,815.27. This trade represents a 22.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,507 shares of company stock valued at $42,694,080 over the last ninety days. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AAPL shares. KeyCorp upgraded shares of Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. JPMorgan Chase & Co. dropped their price target 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. Bank of America restated a "buy" rating and issued a $235.00 price objective on shares of Apple in a research note on Tuesday, June 10th. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research report on Tuesday, June 10th. Finally, Loop Capital cut their price target on Apple from $230.00 to $215.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and an average target price of $234.86.

About Apple

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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