Apple Inc. (NASDAQ:AAPL) is Wealth Management Partners LLC's 4th Largest Position

Wealth Management Partners LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,883 shares of the iPhone maker's stock after selling 1,449 shares during the period. Apple makes up 5.4% of Wealth Management Partners LLC's investment portfolio, making the stock its 4th largest position. Wealth Management Partners LLC's holdings in Apple were worth $11,747,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Advanced Portfolio Management LLC raised its holdings in shares of Apple by 0.3% during the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock valued at $3,260,000 after purchasing an additional 47 shares during the last quarter. Hanseatic Management Services Inc. grew its position in Apple by 1.3% in the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock worth $945,000 after purchasing an additional 48 shares during the period. Family Capital Management Inc. raised its stake in Apple by 0.3% during the 4th 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. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of Apple by 0.3% during the 4th 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 buying an additional 48 shares during the period. Finally, Scarborough Advisors LLC lifted its holdings in shares of Apple by 0.3% during the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock valued at $3,992,000 after buying an additional 51 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Trading Up 0.4%

Shares of NASDAQ:AAPL traded up $0.92 during trading on Thursday, hitting $213.36. The company had a trading volume of 34,955,836 shares, compared to its average volume of 53,553,547. The stock has a market cap of $3.19 trillion, a price-to-earnings ratio of 33.23, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. The company has a fifty day simple moving average of $203.16 and a two-hundred day simple moving average of $219.40. 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 announced its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.03. The business had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.53 earnings per share. As a group, equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio (DPR) is 16.20%.

Apple declared that its Board of Directors has initiated a stock buyback 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 an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts recently commented on the company. Bank of America reaffirmed a "buy" rating and issued a $235.00 price objective on shares of Apple in a report on Tuesday, June 10th. Jefferies Financial Group upgraded Apple from an "underperform" rating to a "hold" rating and boosted their price target for the company from $170.62 to $188.32 in a research note on Tuesday. Raymond James Financial reduced their price target on shares of Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Evercore ISI increased their price target on shares of Apple to $250.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Finally, China Renaissance initiated coverage on shares of Apple in a research report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $234.95.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 4,486 shares of the business'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 completion of the sale, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction 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 owned 4,569 shares in the company, valued at $941,214. The trade was a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

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.