Apple Inc. (NASDAQ:AAPL) Shares Sold by Collaborative Wealth Managment Inc.

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

Other institutional investors have also modified their holdings of the company. Atlanta Consulting Group Advisors LLC increased its holdings in Apple by 4.0% during the third quarter. Atlanta Consulting Group Advisors LLC now owns 20,320 shares of the iPhone maker's stock valued at $4,735,000 after buying an additional 776 shares during the period. Tower Bridge Advisors increased its holdings in Apple by 0.6% during the third quarter. Tower Bridge Advisors now owns 237,376 shares of the iPhone maker's stock valued at $55,309,000 after buying an additional 1,308 shares during the period. Concord Asset Management LLC VA increased its holdings in Apple by 10.1% during the third quarter. Concord Asset Management LLC VA now owns 66,396 shares of the iPhone maker's stock valued at $15,470,000 after buying an additional 6,071 shares during the period. RiverPark Advisors LLC increased its holdings in Apple by 8.1% during the third quarter. RiverPark Advisors LLC now owns 31,685 shares of the iPhone maker's stock valued at $7,383,000 after buying an additional 2,368 shares during the period. Finally, Cardano Risk Management B.V. increased its holdings in Apple by 2.9% during the third quarter. Cardano Risk Management B.V. now owns 3,723,104 shares of the iPhone maker's stock valued at $876,483,000 after buying an additional 103,856 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Up 0.5%

Shares of AAPL traded up $0.91 during midday trading on Thursday, reaching $201.33. The stock had a trading volume of 11,638,749 shares, compared to its average volume of 56,057,477. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company's fifty day simple moving average is $204.01 and its two-hundred day simple moving average is $225.36. The company has a market cap of $3.01 trillion, a price-to-earnings ratio of 31.94, a PEG ratio of 2.44 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same period last year, the business earned $1.53 EPS. Apple's revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a $0.26 dividend. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. Apple's payout ratio is presently 16.20%.

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AAPL shares. Tigress Financial lifted their price target on shares of Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a report on Thursday, April 3rd. Barclays cut their price target on shares of Apple from $197.00 to $173.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. TD Cowen cut their price target on shares of Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a report on Monday, April 14th. Finally, Maxim Group lifted their price target on shares of Apple to $215.00 and gave the stock a "hold" rating in a report on Friday, February 21st. Four 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and an average target price of $235.80.

Insider Activity

In related news, COO Jeffrey E. Williams sold 35,493 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the sale, the chief operating officer now owns 390,059 shares of the company's stock, valued at approximately $87,377,116.59. The trade was a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $933,940.34. Following the transaction, the insider now owns 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 disclosure for this sale can be found here. Insiders have sold a total of 191,507 shares of company stock valued at $42,694,080 over the last quarter. Corporate insiders own 0.06% of the company's stock.

Apple Company 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.