Parkworth Wealth Management Inc. acquired a new position in Apple Inc. (NASDAQ:AAPL - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 3,888 shares of the iPhone maker's stock, valued at approximately $974,000. Apple makes up approximately 0.8% of Parkworth Wealth Management Inc.'s investment portfolio, making the stock its 26th biggest position.
A number of other institutional investors have also recently bought and sold shares of AAPL. Drystone LLC bought a new position in Apple in the 4th quarter valued at about $25,000. SPX Gestao de Recursos Ltda bought a new stake in shares of Apple during the 3rd quarter worth approximately $71,000. Pillar Financial Advisors LLC acquired a new stake in shares of Apple during the 4th quarter worth approximately $82,000. Teachers Insurance & Annuity Association of America bought a new position in Apple in the third quarter valued at approximately $77,000. Finally, Compass Planning Associates Inc acquired a new position in Apple during the fourth quarter valued at approximately $96,000. Institutional investors own 67.73% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on AAPL shares. Redburn Partners set a $230.00 target price on Apple in a report on Friday, January 31st. Wedbush reaffirmed an "outperform" rating and issued a $270.00 price objective on shares of Apple in a research note on Friday, May 16th. KeyCorp upgraded Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Evercore ISI increased their target price on shares of Apple from $260.00 to $275.00 and gave the stock an "outperform" rating in a report on Tuesday, March 18th. Finally, UBS Group reduced their price target on shares of Apple from $236.00 to $210.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Four 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and an average price target of $235.80.
Read Our Latest Stock Report on Apple
Insider Buying and Selling at Apple
In related news, COO Jeffrey E. Williams sold 35,493 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 4,486 shares of the firm'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 value of $933,940.34. Following the sale, the insider now directly owns 15,533 shares of the company's stock, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 191,507 shares of company stock valued at $42,694,080. 0.06% of the stock is currently owned by insiders.
Apple Stock Performance
Shares of AAPL stock opened at $202.09 on Thursday. The stock has a market capitalization of $3.02 trillion, a PE ratio of 32.08, a PEG ratio of 2.44 and a beta of 1.27. The business's 50 day simple moving average is $205.64 and its 200 day simple moving average is $226.26. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. Apple Inc. has a one year low of $169.21 and a one year high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly 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 net margin of 24.30% and a return on equity of 160.83%. The firm had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter in the previous year, the company earned $1.53 EPS. The company's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.
Apple Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a $0.26 dividend. This is a positive change from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.51%. Apple's payout ratio is presently 16.20%.
Apple declared that its board has initiated a share repurchase program on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.
About Apple
(
Free Report)
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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