Apple Inc. (NASDAQ:AAPL) is Delos Wealth Advisors LLC's 2nd Largest Position

Delos Wealth Advisors LLC grew its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 135.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,052 shares of the iPhone maker's stock after purchasing an additional 15,554 shares during the quarter. Apple comprises about 5.4% of Delos Wealth Advisors LLC's holdings, making the stock its 2nd biggest holding. Delos Wealth Advisors LLC's holdings in Apple were worth $6,774,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Drystone LLC purchased a new position in Apple in the fourth quarter worth about $25,000. Life Planning Partners Inc purchased a new stake in shares of Apple during the 4th quarter valued at about $47,000. SPX Gestao de Recursos Ltda purchased a new stake in shares of Apple during the 3rd quarter valued at about $71,000. Pillar Financial Advisors LLC purchased a new position in shares of Apple in the fourth quarter worth approximately $82,000. Finally, Compass Planning Associates Inc purchased a new position in shares of Apple in the fourth quarter worth approximately $96,000. 67.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AAPL shares. Citigroup reissued a "buy" rating on shares of Apple in a report on Tuesday. Needham & Company LLC restated a "hold" rating on shares of Apple in a research note on Tuesday. KeyCorp upgraded shares of Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Morgan Stanley restated an "overweight" rating and set a $235.00 target price on shares of Apple in a research note on Thursday, June 5th. Finally, Monness Crespi & Hardt raised their target price on shares of Apple to $245.00 and gave the stock a "buy" rating in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $234.86.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 179,158 shares of the company's stock, valued at $40,072,269.86. The trade was a 17.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the transaction, the chief financial officer now directly owns 4,569 shares of the company's stock, valued at $941,214. The trade was a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,507 shares of company stock valued at $42,694,080 over the last three months. 0.06% of the stock is owned by company insiders.

Apple Price Performance

AAPL traded down $3.89 during trading hours on Wednesday, hitting $198.78. The company's stock had a trading volume of 60,780,621 shares, compared to its average volume of 55,606,411. The business's 50-day moving average price is $200.71 and its 200-day moving average price is $223.77. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The stock has a market cap of $2.97 trillion, a price-to-earnings ratio of 31.55, a P/E/G ratio of 2.44 and a beta of 1.22. 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 (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, 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 company had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. During the same quarter in the previous year, the business posted $1.53 earnings per share. Apple's quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.52%. This is a positive change from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple's payout ratio is presently 16.20%.

Apple announced that its Board of Directors has initiated a share buyback plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

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.