2,644 Shares in Apple Inc. (NASDAQ:AAPL) Purchased by Three Cord True Wealth Management LLC

Three Cord True Wealth Management LLC acquired a new position in Apple Inc. (NASDAQ:AAPL - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,644 shares of the iPhone maker's stock, valued at approximately $662,000. Apple accounts for approximately 0.6% of Three Cord True Wealth Management LLC's investment portfolio, making the stock its 15th biggest position.

Several other institutional investors have also added to or reduced their stakes in the company. Advanced Portfolio Management LLC lifted its holdings in shares of Apple by 0.3% in the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock valued at $3,260,000 after buying an additional 47 shares during the period. Hanseatic Management Services Inc. boosted its stake in shares of Apple by 1.3% in the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock worth $945,000 after acquiring an additional 48 shares during the last quarter. Family Capital Management Inc. lifted its stake in shares of Apple by 0.3% in the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock worth $4,235,000 after buying an additional 48 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in shares of Apple by 0.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock valued at $4,178,000 after purchasing an additional 48 shares during the last quarter. Finally, Scarborough Advisors LLC grew its holdings in shares of Apple by 0.3% in the fourth quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock valued at $3,992,000 after purchasing an additional 51 shares during the period. Institutional investors own 67.73% of the company's stock.

Analyst Ratings Changes

AAPL has been the topic of several research analyst reports. The Goldman Sachs Group restated a "buy" rating on shares of Apple in a report on Wednesday, May 21st. Jefferies Financial Group restated an "underperform" rating and issued a $170.62 price target (up from $167.88) on shares of Apple in a research note on Friday, May 2nd. Morgan Stanley reaffirmed an "overweight" rating on shares of Apple in a report on Friday, June 13th. Raymond James Financial reduced their target price on Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, Scotiabank downgraded Apple to a "market perform" rating in a research note on Friday, May 2nd. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $234.86.

Apple Trading Up 0.5%

Apple stock opened at $196.58 on Thursday. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The stock has a market capitalization of $2.94 trillion, a PE ratio of 30.62, a price-to-earnings-growth ratio of 2.18 and a beta of 1.22. The firm has a 50 day simple moving average of $202.17 and a 200-day simple moving average of $222.30. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same period in the previous year, the company earned $1.53 earnings per share. Apple's revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.53%. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is currently 16.20%.

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

Insider Buying and Selling

In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief operating officer now owns 390,059 shares in the company, valued at $87,377,116.59. This represents a 8.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the sale, the senior vice president now owns 179,158 shares of the company's stock, valued at approximately $40,072,269.86. The trade was a 17.81% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,507 shares of company stock worth $42,694,080. Corporate insiders own 0.06% of the company's stock.

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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