5,421 Shares in Apple Inc. (NASDAQ:AAPL) Purchased by Copia Wealth Management

Copia Wealth Management acquired a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,421 shares of the iPhone maker's stock, valued at approximately $1,358,000. Apple comprises approximately 1.3% of Copia Wealth Management's investment portfolio, making the stock its 21st biggest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Drystone LLC acquired a new stake in shares of Apple during the 4th quarter worth about $25,000. Conquis Financial LLC acquired a new position in Apple in the 4th quarter valued at about $63,000. LSV Asset Management acquired a new position in Apple in the 4th quarter valued at about $65,000. Pillar Financial Advisors LLC acquired a new position in Apple in the 4th quarter valued at about $82,000. Finally, Compass Planning Associates Inc acquired a new position in Apple in the 4th quarter valued at about $96,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

NASDAQ AAPL traded up $4.42 on Friday, reaching $201.00. The stock had a trading volume of 95,792,149 shares, compared to its average volume of 53,610,148. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The business's 50-day moving average price is $202.35 and its 200 day moving average price is $221.41. The stock has a market cap of $3.00 trillion, a P/E ratio of 31.31, a price-to-earnings-growth ratio of 2.24 and a beta of 1.22.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The company had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.53 earnings per share. As a group, equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The business 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. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is presently 16.20%.

Apple announced that its board has authorized a stock buyback plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Morgan Stanley reaffirmed an "overweight" rating on shares of Apple in a research report on Friday, June 13th. Wedbush reaffirmed an "outperform" rating and issued a $270.00 target price on shares of Apple in a research report on Tuesday, June 10th. KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Rosenblatt Securities downgraded Apple from a "buy" rating to a "neutral" rating and set a $217.00 target price for the company. in a research report on Friday, May 2nd. Finally, TD Cowen lowered their price objective on Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $234.86.

Insider Activity

In related news, COO Jeffrey E. Williams sold 35,493 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the transaction, the chief operating officer now owns 390,059 shares of the company's stock, valued at $87,377,116.59. This represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Timothy D. Cook sold 108,136 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the sale, the chief executive officer now directly owns 3,280,295 shares in the company, valued at $733,637,976.75. This trade represents a 3.19% decrease in their position. The disclosure for this sale can be found here. Over the last 90 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.

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.