Daymark Wealth Partners LLC Has $193.75 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Daymark Wealth Partners LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 872,231 shares of the iPhone maker's stock after selling 21,368 shares during the period. Apple makes up about 6.6% of Daymark Wealth Partners LLC's portfolio, making the stock its largest position. Daymark Wealth Partners LLC's holdings in Apple were worth $193,749,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after purchasing an additional 49,168,843 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Apple by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock worth $84,999,145,000 after buying an additional 6,307,413 shares in the last quarter. Norges Bank purchased a new stake in shares of Apple in the fourth quarter worth about $46,868,648,000. Northern Trust Corp lifted its holdings in shares of Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after buying an additional 20,079,472 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Apple by 14.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock worth $26,220,566,000 after buying an additional 13,137,968 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider owned 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the transaction, the chief financial officer directly owned 4,569 shares of the company's stock, valued at approximately $941,214. This represents a 50.01% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company's stock.

Apple Trading Down 0.6%

NASDAQ:AAPL traded down $1.25 during trading hours on Friday, hitting $211.16. The company had a trading volume of 39,713,698 shares, compared to its average volume of 53,349,236. The company has a market capitalization of $3.15 trillion, a PE ratio of 32.89, a price-to-earnings-growth ratio of 2.36 and a beta of 1.20. The stock has a 50-day moving average price of $203.39 and a 200 day moving average price of $217.12. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78.

Apple (NASDAQ:AAPL - Get Free Report) last released 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. The business had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.53 earnings per share. On average, equities research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

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

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders 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 dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is 16.20%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AAPL. TD Cowen lowered 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. Tigress Financial increased 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. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Wedbush reaffirmed an "outperform" rating and issued a $270.00 target price on shares of Apple in a research note on Wednesday. Finally, Raymond James Financial lowered their target price on shares of Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and an average price target of $235.27.

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.