13,441 Shares in Apple Inc. (NASDAQ:AAPL) Purchased by Alpha Wealth Funds LLC

Alpha Wealth Funds LLC bought a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 13,441 shares of the iPhone maker's stock, valued at approximately $3,366,000. Apple comprises approximately 3.3% of Alpha Wealth Funds LLC's portfolio, making the stock its 4th largest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Drystone LLC bought a new position in Apple during the 4th quarter valued at approximately $25,000. Life Planning Partners Inc bought a new position in Apple during the 4th quarter valued at approximately $47,000. Conquis Financial LLC bought a new position in Apple during the 4th quarter valued at approximately $63,000. LSV Asset Management bought a new position in Apple during the 4th quarter valued at approximately $65,000. Finally, Pillar Financial Advisors LLC bought a new position in Apple during the 4th quarter valued at approximately $82,000. Institutional investors own 67.73% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Citigroup reissued a "buy" rating on shares of Apple in a research report on Tuesday, June 10th. Tigress Financial increased their target price on Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a research report on Thursday, April 3rd. Scotiabank lowered Apple to a "market perform" rating in a research report on Friday, May 2nd. Evercore ISI increased their target price on Apple to $250.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Finally, UBS Group restated a "buy" rating on shares of Apple in a research note on Sunday, June 1st. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $234.86.

Apple Stock Performance

NASDAQ AAPL traded down $1.20 on Tuesday, hitting $200.30. 53,951,325 shares of the company traded hands, compared to its average volume of 53,512,318. The business's 50 day moving average price is $202.33 and its 200-day moving average price is $221.12. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $2.99 trillion, a price-to-earnings ratio of 31.20, a P/E/G ratio of 2.25 and a beta of 1.22.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $94.04 billion. During the same quarter in the previous year, the company posted $1.53 earnings per share. Apple's revenue for the quarter was up 5.1% on a year-over-year basis. Equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.52%. The ex-dividend date was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is currently 16.20%.

Apple announced that its board has approved a share buyback 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 purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Apple

In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of the firm'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 directly owns 390,059 shares of the company's stock, valued at $87,377,116.59. This trade represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now directly owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,507 shares of company stock valued at $42,694,080. Company 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.