Collaborative Wealth Managment Inc. Has $6.23 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Collaborative Wealth Managment Inc. lowered its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,890 shares of the iPhone maker's stock after selling 1,549 shares during the period. Apple accounts for 2.8% of Collaborative Wealth Managment Inc.'s portfolio, making the stock its 11th largest holding. Collaborative Wealth Managment Inc.'s holdings in Apple were worth $6,233,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sovereign Investment Advisors LLC acquired a new position in Apple during the fourth quarter worth $2,351,000. Harbour Investments Inc. boosted its stake in shares of Apple by 1.6% during the 4th quarter. Harbour Investments Inc. now owns 282,390 shares of the iPhone maker's stock worth $70,716,000 after acquiring an additional 4,550 shares in the last quarter. CV Advisors LLC increased its holdings in shares of Apple by 57.8% during the 4th quarter. CV Advisors LLC now owns 84,570 shares of the iPhone maker's stock valued at $21,178,000 after acquiring an additional 30,993 shares during the last quarter. Ninepoint Partners LP raised its stake in shares of Apple by 16.8% in the 4th quarter. Ninepoint Partners LP now owns 5,511 shares of the iPhone maker's stock valued at $1,380,000 after acquiring an additional 793 shares in the last quarter. Finally, Tumwater Wealth Management LLC acquired a new stake in Apple in the 4th quarter worth approximately $1,287,000. Institutional investors own 67.73% of the company's stock.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 38,822 shares of the company's stock in a transaction dated 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 owns 179,158 shares in the company, valued at $40,072,269.86. This represents a 17.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the sale, the chief executive officer now directly owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This represents a 3.19% 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 ninety days. Insiders own 0.06% of the company's stock.

Apple Price Performance

NASDAQ:AAPL traded up $4.94 during mid-day trading on Tuesday, hitting $200.21. The company's stock had a trading volume of 55,838,867 shares, compared to its average volume of 56,255,357. The company has a market capitalization of $2.99 trillion, a price-to-earnings ratio of 31.78, a P/E/G ratio of 2.44 and a beta of 1.27. 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 fifty-two week low of $169.21 and a fifty-two week high of $260.10. The stock has a fifty day moving average of $204.64 and a 200-day moving average of $225.71.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data 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 company 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%. The company's revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.53 EPS. As a group, equities analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple declared that its Board of Directors has initiated a share buyback program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its shares are undervalued.

Apple Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. Apple's dividend payout ratio (DPR) is presently 16.20%.

Analyst Upgrades and Downgrades

AAPL has been the topic of several analyst reports. Morgan Stanley reiterated an "overweight" rating on shares of Apple in a report on Monday, May 12th. Evercore ISI upped their price objective on shares of Apple from $260.00 to $275.00 and gave the stock an "outperform" rating in a report on Tuesday, March 18th. Loop Capital dropped their target price on shares of Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Citigroup restated a "cautious" rating on shares of Apple in a report on Monday, May 5th. Finally, Oppenheimer lowered Apple from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Apple has a consensus rating of "Moderate Buy" and a consensus price target 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.