Buckley Wealth Management LLC Has $39.93 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Buckley Wealth Management LLC lessened its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 159,432 shares of the iPhone maker's stock after selling 4,337 shares during the period. Apple comprises 12.2% of Buckley Wealth Management LLC's portfolio, making the stock its largest position. Buckley Wealth Management LLC's holdings in Apple were worth $39,925,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Drystone LLC bought a new stake in shares of Apple in the 4th quarter worth approximately $25,000. Life Planning Partners Inc bought a new stake in shares of Apple in the 4th quarter worth approximately $47,000. SPX Gestao de Recursos Ltda bought a new stake in shares of Apple in the 3rd quarter worth approximately $71,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Apple in the 3rd quarter worth approximately $77,000. Finally, Pillar Financial Advisors LLC bought a new stake in shares of Apple in the 4th quarter worth approximately $82,000. Institutional investors own 67.73% of the company's stock.

Apple Stock Up 0.3%

Shares of AAPL stock traded up $0.55 on Wednesday, reaching $200.76. 8,638,989 shares of the company's stock traded hands, compared to its average volume of 56,075,115. The company has a market capitalization of $3.00 trillion, a P/E ratio of 31.87, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The business's 50 day moving average price is $204.36 and its two-hundred day moving average price is $225.54.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly 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 firm had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. Apple's quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.53 earnings per share. On average, equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

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

Apple Increases Dividend

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

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,486 shares of the company's 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 directly owns 15,533 shares of the company's stock, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was 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 in the company, valued at approximately $733,637,976.75. The trade was 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 have sold 191,507 shares of company stock valued at $42,694,080. Company insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Evercore ISI raised their target price on Apple from $260.00 to $275.00 and gave the company an "outperform" rating in a research report on Tuesday, March 18th. Loop Capital lowered their target price on Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. JPMorgan Chase & Co. lowered their target price on Apple from $270.00 to $245.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Maxim Group raised their target price on Apple to $215.00 and gave the company a "hold" rating in a research report on Friday, February 21st. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Apple in a research report on Wednesday, May 21st. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $235.80.

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.