1900 Wealth Management LLC Acquires 4,739 Shares of Apple Inc. (NASDAQ:AAPL)

1900 Wealth Management LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 15.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 35,889 shares of the iPhone maker's stock after purchasing an additional 4,739 shares during the period. Apple accounts for about 0.7% of 1900 Wealth Management LLC's investment portfolio, making the stock its 22nd biggest holding. 1900 Wealth Management LLC's holdings in Apple were worth $7,972,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after purchasing an additional 49,168,843 shares during the period. Geode Capital Management LLC boosted its stake in shares of Apple by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock worth $84,999,145,000 after acquiring an additional 6,307,413 shares during the period. Norges Bank bought a new position in shares of Apple in the fourth quarter worth about $46,868,648,000. Northern Trust Corp boosted its stake in shares of Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after acquiring an additional 20,079,472 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Apple by 14.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock worth $26,220,566,000 after acquiring an additional 13,137,968 shares during the period. Institutional investors own 67.73% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Apple in a research note on Wednesday, May 21st. Scotiabank lowered Apple to a "market perform" rating in a research note on Friday, May 2nd. Rosenblatt Securities lowered Apple from a "buy" rating to a "neutral" rating and set a $217.00 price objective for the company. in a research note on Friday, May 2nd. Finally, Citigroup reaffirmed a "buy" rating on shares of Apple in a research note on Tuesday, June 10th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $235.11.

Insider Transactions at Apple

In other Apple news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider directly owned 15,533 shares in the company, valued at $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.06% of the stock is currently owned by company insiders.

Apple Trading Down 0.2%

AAPL stock traded down $0.39 during midday trading on Thursday, reaching $213.76. 45,923,891 shares of the company traded hands, compared to its average volume of 49,703,220. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The business has a 50 day moving average of $204.71 and a 200-day moving average of $214.96. The firm has a market capitalization of $3.19 trillion, a price-to-earnings ratio of 33.30, a P/E/G ratio of 2.39 and a beta of 1.20.

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

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a dividend of $0.26 per share. The ex-dividend date was 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 0.49%. Apple's dividend payout ratio is 16.20%.

Apple declared that its board has approved a share repurchase plan on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its stock is 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.