Alteri Wealth LLC Acquires Shares of 70,756 Apple Inc. (NASDAQ:AAPL)

Alteri Wealth LLC bought a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 70,756 shares of the iPhone maker's stock, valued at approximately $17,719,000. Apple comprises 4.9% of Alteri Wealth LLC's investment portfolio, making the stock its 2nd largest holding.

A number of other institutional investors and hedge funds have also modified their holdings of AAPL. Vanguard Group Inc. boosted its stake in shares of Apple by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after buying an additional 49,168,843 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Apple by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock valued at $84,999,145,000 after acquiring an additional 6,307,413 shares during the period. Norges Bank purchased a new position in Apple in the fourth quarter worth about $46,868,648,000. Northern Trust Corp grew its stake in shares of Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Apple by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 98,099,411 shares of the iPhone maker's stock valued at $24,566,054,000 after purchasing an additional 3,156,680 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group reissued a "buy" rating on shares of Apple in a report on Wednesday, May 21st. Tigress Financial lifted their price target on shares of Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a research note on Thursday, April 3rd. UBS Group restated a "buy" rating on shares of Apple in a research note on Sunday, June 1st. Scotiabank downgraded Apple to a "market perform" rating in a research report on Friday, May 2nd. Finally, Maxim Group upped their price target on Apple to $215.00 and gave the stock a "hold" rating in a research report on Friday, February 21st. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $234.86.

Insider Activity

In other news, insider Chris Kondo sold 4,486 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, the insider now owns 15,533 shares in the company, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy D. Cook sold 108,136 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 3,280,295 shares of the company's stock, valued at $733,637,976.75. This trade represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,507 shares of company stock valued at $42,694,080. 0.06% of the stock is currently owned by corporate insiders.

Apple Trading Up 0.9%

NASDAQ AAPL traded up $1.79 during trading on Monday, hitting $198.24. The stock had a trading volume of 7,788,162 shares, compared to its average volume of 54,560,644. The stock has a 50 day simple moving average of $201.76 and a 200 day simple moving average of $222.93. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The stock has a market capitalization of $2.96 trillion, a price-to-earnings ratio of 31.41, a P/E/G ratio of 2.44 and a beta of 1.22.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. Apple had a return on equity of 160.83% and a net margin of 24.30%. The business had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. During the same period in the previous year, the business earned $1.53 earnings per share. The business's revenue was up 5.1% compared to the same quarter last year. Sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. Apple's dividend payout ratio is currently 16.20%.

Apple declared that its Board of Directors has initiated a stock repurchase program on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs 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.