Apple Inc. (NASDAQ:AAPL) Stock Position Increased by Fourth Dimension Wealth LLC

Fourth Dimension Wealth LLC lifted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 14.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,564 shares of the iPhone maker's stock after buying an additional 7,220 shares during the quarter. Apple makes up 6.2% of Fourth Dimension Wealth LLC's holdings, making the stock its largest position. Fourth Dimension Wealth LLC's holdings in Apple were worth $12,787,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Life Planning Partners Inc acquired a new position in shares of Apple during the fourth quarter valued at approximately $47,000. Conquis Financial LLC acquired a new position in shares of Apple during the fourth quarter valued at approximately $63,000. LSV Asset Management acquired a new position in shares of Apple during the fourth quarter valued at approximately $65,000. Pillar Financial Advisors LLC acquired a new position in shares of Apple during the fourth quarter valued at approximately $82,000. Finally, Compass Planning Associates Inc acquired a new position in shares of Apple during the fourth quarter valued at approximately $96,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Down 0.2%

Apple stock opened at $202.92 on Wednesday. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market cap of $3.01 trillion, a PE ratio of 30.79, a P/E/G ratio of 2.14 and a beta of 1.16. The stock's fifty day moving average is $205.58 and its two-hundred day moving average is $213.24.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%. The company had revenue of $94.04 billion for the quarter, compared to analysts' expectations of $88.64 billion. During the same period last year, the firm earned $1.40 earnings per share. Apple's quarterly revenue was up 9.6% on a year-over-year basis. On average, sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its board has approved a share buyback program on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, August 11th will be paid a $0.26 dividend. The ex-dividend date is Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.5%. Apple's dividend payout ratio (DPR) is currently 15.78%.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,486 shares of the firm's 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 sale, the insider directly owned 15,533 shares in the company, valued at $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AAPL. Morgan Stanley increased their target price on Apple from $235.00 to $240.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Evercore ISI increased their price target on Apple to $250.00 and gave the company a "buy" rating in a report on Friday, June 6th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Apple in a report on Wednesday, May 21st. DA Davidson reaffirmed a "buy" rating and issued a $250.00 price target on shares of Apple in a report on Friday, August 1st. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a report on Friday, July 25th. Two research 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 MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $237.25.

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.

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