Apple Inc. (NASDAQ:AAPL) is GC Wealth Management RIA LLC's 2nd Largest Position

GC Wealth Management RIA LLC reduced its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,155 shares of the iPhone maker's stock after selling 7,658 shares during the quarter. Apple comprises approximately 4.8% of GC Wealth Management RIA LLC's holdings, making the stock its 2nd largest position. GC Wealth Management RIA LLC's holdings in Apple were worth $27,335,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. O Connor Financial Group LLC increased its position in Apple by 1.2% during the fourth quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker's stock valued at $896,000 after acquiring an additional 41 shares during the last quarter. Menard Financial Group LLC lifted its stake in Apple by 0.4% in the third quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker's stock worth $2,848,000 after purchasing an additional 48 shares during the last quarter. Hanseatic Management Services Inc. boosted its position in shares of Apple by 1.3% during the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock valued at $945,000 after buying an additional 48 shares during the period. Family Capital Management Inc. grew its stake in shares of Apple by 0.3% during the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock valued at $4,235,000 after buying an additional 48 shares during the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA raised 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 worth $4,178,000 after buying an additional 48 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Performance

AAPL opened at $206.86 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The firm has a 50 day moving average of $205.87 and a two-hundred day moving average of $226.43. The firm has a market capitalization of $3.09 trillion, a PE ratio of 32.83, a P/E/G ratio of 2.44 and a beta of 1.27.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm's revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.53 earnings per share. On average, analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its stock is undervalued.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is currently 16.20%.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,486 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the transaction, the chief financial officer now owns 4,569 shares in the company, valued at approximately $941,214. This represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,507 shares of company stock valued at $42,694,080 in the last 90 days. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AAPL. Argus upgraded shares of Apple to a "strong-buy" rating in a report on Friday, January 31st. Scotiabank lowered shares of Apple to a "market perform" rating in a research report on Friday, May 2nd. Bank of America decreased their price target on shares of Apple from $250.00 to $240.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Loop Capital dropped their price objective on Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Finally, Tigress Financial lifted their price objective on Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a report on Thursday, April 3rd. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Apple has an average rating of "Moderate Buy" and a consensus target price of $235.80.

Apple Company 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.

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