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Buck Wealth Strategies LLC Has $14.81 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

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Key Points

  • Buck Wealth Strategies LLC increased its stake in Apple Inc. by 11.4%, owning 66,685 shares valued at about $14.8 million, making it the firm's 5th largest position.
  • Insider Chris Kondo sold 4,486 shares at approximately $208.19 each, reducing their holdings by 22.41% to about 15,533 shares.
  • Apple's board approved a $100 billion stock repurchase plan, indicating a belief that the company's stock is undervalued.
  • Five stocks to consider instead of Apple.

Buck Wealth Strategies LLC raised its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 11.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,685 shares of the iPhone maker's stock after acquiring an additional 6,812 shares during the quarter. Apple makes up approximately 2.7% of Buck Wealth Strategies LLC's investment portfolio, making the stock its 5th largest position. Buck Wealth Strategies LLC's holdings in Apple were worth $14,813,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of AAPL. Life Planning Partners Inc acquired a new position in Apple in the 4th quarter valued at $47,000. Conquis Financial LLC acquired a new position in Apple in the 4th quarter valued at $63,000. LSV Asset Management acquired a new position in Apple in the 4th quarter valued at $65,000. Pillar Financial Advisors LLC acquired a new position in Apple in the 4th quarter valued at $82,000. Finally, Compass Planning Associates Inc acquired a new position in Apple in the 4th quarter valued at $96,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider directly owned 15,533 shares in the company, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.06% of the stock is owned by corporate insiders.

Apple Stock Down 2.5%

AAPL traded down $5.19 during trading on Friday, reaching $202.38. 97,423,066 shares of the stock traded hands, compared to its average volume of 44,912,472. The stock has a market cap of $3.02 trillion, a price-to-earnings ratio of 30.71, a price-to-earnings-growth ratio of 2.28 and a beta of 1.17. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. 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 stock's 50-day simple moving average is $205.22 and its two-hundred day simple moving average is $213.98.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. Apple had a return on equity of 172.48% and a net margin of 24.30%. The firm had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. During the same quarter last year, the firm earned $1.40 earnings per share. The business's revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its Board of Directors has approved a stock repurchase program on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 11th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, August 11th. Apple's payout ratio is currently 16.20%.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of recent research reports. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Apple in a research note on Wednesday, May 21st. JPMorgan Chase & Co. raised their target price on Apple from $250.00 to $255.00 and gave the stock an "overweight" rating in a research note on Friday. KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $217.00 target price on shares of Apple in a research note on Tuesday. Finally, Evercore ISI raised their target price on Apple to $250.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $237.25.

Read Our Latest Stock Report on Apple

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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