2,515 Shares in Apple Inc. $AAPL Bought by Coastline Complete Wealth LLC

Key Points

• Coastline Complete Wealth LLC opened a new Apple position in the fourth quarter, buying 2,515 shares valued at about $684,000.
• Apple continues to attract institutional interest, with 67.73% of shares now held by hedge funds and other institutional investors, even as some insiders have recently sold stock.
• The company reported strong recent results, including EPS of $2.01 versus $1.95 expected and revenue of $111.18 billion, while also raising its quarterly dividend to $0.27 per share.

Coastline Complete Wealth LLC purchased a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,515 shares of the iPhone maker's stock, valued at approximately $684,000.

Other large investors also recently modified their holdings of the company. Barnes Wealth Management Group Inc raised its position in shares of Apple by 0.9% in the 4th quarter. Barnes Wealth Management Group Inc now owns 18,852 shares of the iPhone maker's stock valued at $5,125,000 after purchasing an additional 159 shares in the last quarter. SG Trading Solutions LLC acquired a new stake in shares of Apple during the fourth quarter worth approximately $25,970,000. DiPaolo Financial Group Inc. bought a new stake in shares of Apple in the fourth quarter worth $916,000. Nolet Wealth Management LLC bought a new stake in shares of Apple in the fourth quarter worth $2,553,000. Finally, Investment Insight Wealth Management LLC acquired a new stake in Apple in the fourth quarter valued at $4,052,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $298.01 on Friday. The company has a market cap of $4.38 trillion, a PE ratio of 36.04, a P/E/G ratio of 2.59 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. Apple Inc. has a 12-month low of $196.85 and a 12-month high of $317.40. The stock has a 50 day simple moving average of $289.73 and a 200-day simple moving average of $272.98.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating analysts' consensus estimates of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business had revenue of $111.18 billion for the quarter, compared to analysts' expectations of $109.46 billion. During the same period in the previous year, the business earned $1.65 earnings per share. The company's revenue was up 16.6% on a year-over-year basis. On average, equities research analysts forecast that Apple Inc. will post 8.75 EPS for the current year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. This is a positive change from Apple's previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. Apple's payout ratio is currently 13.06%.

Insider Transactions at Apple

In related news, CFO Kevan Parekh sold 1,534 shares of the firm's stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the completion of the transaction, the chief financial officer owned 13,366 shares of the company's stock, valued at $3,675,650. This trade represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Timothy D. Cook sold 64,949 shares of Apple stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total value of $16,511,984.27. Following the transaction, the chief executive officer directly owned 3,280,418 shares in the company, valued at approximately $833,980,668.14. The trade was a 1.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 97,875 shares of company stock worth $24,998,541. Corporate insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Monness Crespi & Hardt upped their price objective on Apple from $315.00 to $335.00 and gave the company a "buy" rating in a research note on Friday, May 1st. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Apple in a research report on Monday, June 8th. Stifel Nicolaus set a $330.00 price objective on shares of Apple in a research note on Monday, March 2nd. Morgan Stanley set a $325.00 target price on shares of Apple in a report on Tuesday, June 9th. Finally, Tigress Financial restated a "strong-buy" rating and issued a $375.00 target price (up from $305.00) on shares of Apple in a research note on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Apple has an average rating of "Moderate Buy" and an average target price of $314.59.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s planned price increases could protect margins as memory and storage costs rise, and Bank of America reiterated a Buy rating with a $380 target, citing Apple’s pricing power and supply-chain strength. Article Title
• Positive Sentiment: Reports of upcoming AI-focused devices and a second-generation iPhone Air support confidence in Apple’s product pipeline and longer-term growth story. Article Title
• Neutral Sentiment: Apple’s planned price hikes may help earnings, but they could also pressure demand if consumers balk at higher handset prices. Article Title
• Neutral Sentiment: Apple opening Brazil’s App Store to alternative marketplaces reduces regulatory friction there, but it also underscores ongoing global platform scrutiny. Article Title

Apple Company Profile

Apple Inc NASDAQ: AAPL is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple's principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

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