Austin Wealth Management LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 8.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,271 shares of the iPhone maker's stock after acquiring an additional 2,124 shares during the period. Apple accounts for approximately 1.3% of Austin Wealth Management LLC's investment portfolio, making the stock its 24th biggest holding. Austin Wealth Management LLC's holdings in Apple were worth $6,042,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Drystone LLC bought a new position in shares of Apple during the 4th quarter worth about $25,000. Life Planning Partners Inc bought a new position in Apple in the fourth quarter worth approximately $47,000. SPX Gestao de Recursos Ltda acquired a new stake in Apple in the third quarter valued at approximately $71,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Apple during the third quarter valued at approximately $77,000. Finally, Pillar Financial Advisors LLC bought a new position in shares of Apple in the 4th quarter worth $82,000. 67.73% of the stock is owned by institutional investors and hedge funds.
Apple Stock Down 2.3%
Apple stock opened at $202.09 on Thursday. The firm has a 50 day simple moving average of $205.64 and a 200 day simple moving average of $226.26. 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 1-year low of $169.21 and a 1-year high of $260.10. The firm has a market capitalization of $3.02 trillion, a price-to-earnings ratio of 32.08, a P/E/G ratio of 2.44 and a beta of 1.27.
Apple (NASDAQ:AAPL - Get Free Report) last announced 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. Apple had a return on equity of 160.83% and a net margin of 24.30%. The company had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. During the same period in the previous year, the business earned $1.53 earnings per share. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. On average, analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.
Apple declared that its board 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 buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its stock is undervalued.
Apple Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is presently 16.20%.
Insider Buying and Selling at Apple
In other news, COO Jeffrey E. Williams sold 35,493 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the transaction, the chief operating officer now directly owns 390,059 shares in the company, valued at approximately $87,377,116.59. This trade represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 38,822 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the transaction, the senior vice president now directly owns 179,158 shares of the company's stock, valued at approximately $40,072,269.86. This represents a 17.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,507 shares of company stock valued at $42,694,080 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of analysts have commented on AAPL shares. Scotiabank lowered shares of Apple to a "market perform" rating in a research note on Friday, May 2nd. Tigress Financial boosted their target price on Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a research note on Thursday, April 3rd. Raymond James decreased their price target on Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. China Renaissance started coverage on Apple in a report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price target on the stock. Finally, DA Davidson upped their price objective on Apple from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $235.80.
Get Our Latest Stock Analysis on Apple
Apple Company Profile
(
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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