Drucker Wealth 3.0 LLC Grows Holdings in Apple Inc. (NASDAQ:AAPL)

Drucker Wealth 3.0 LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,159 shares of the iPhone maker's stock after buying an additional 3,139 shares during the quarter. Apple comprises 3.8% of Drucker Wealth 3.0 LLC's holdings, making the stock its 4th biggest position. Drucker Wealth 3.0 LLC's holdings in Apple were worth $16,818,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Regent Peak Wealth Advisors LLC raised its holdings in shares of Apple by 0.9% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 111,858 shares of the iPhone maker's stock worth $28,012,000 after purchasing an additional 1,050 shares in the last quarter. Strathmore Capital Advisors Inc. bought a new stake in shares of Apple in the 4th quarter worth approximately $1,221,000. One Wealth Capital Management LLC bought a new stake in shares of Apple in the 4th quarter worth approximately $2,452,000. Range Financial Group LLC raised its holdings in shares of Apple by 66.3% in the 4th quarter. Range Financial Group LLC now owns 7,912 shares of the iPhone maker's stock worth $1,981,000 after purchasing an additional 3,153 shares in the last quarter. Finally, Legend Financial Advisors Inc. raised its holdings in shares of Apple by 0.9% in the 4th quarter. Legend Financial Advisors Inc. now owns 7,982 shares of the iPhone maker's stock worth $1,999,000 after purchasing an additional 71 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Performance

Shares of AAPL opened at $196.58 on Thursday. The company's 50 day moving average price is $202.17 and its 200 day moving average price is $222.30. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a market capitalization of $2.94 trillion, a PE ratio of 30.62, a PEG ratio of 2.18 and a beta of 1.22. 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 (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same period in the previous year, the firm posted $1.53 earnings per share. The firm's revenue was up 5.1% on a year-over-year basis. Research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a dividend of $0.26 per share. 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. This represents a $1.04 annualized dividend and a dividend yield of 0.53%. Apple's dividend payout ratio is 16.20%.

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

Analyst Ratings Changes

AAPL has been the topic of a number of research reports. Scotiabank downgraded shares of Apple to a "market perform" rating in a report on Friday, May 2nd. 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. The Goldman Sachs Group restated a "buy" rating on shares of Apple in a report on Wednesday, May 21st. DA Davidson boosted their price target on shares of Apple from $230.00 to $250.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, Raymond James Financial cut their price target on shares of Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $234.86.

Insider Transactions at Apple

In other news, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction on 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 transaction, the chief operating officer now owns 390,059 shares in the company, valued at $87,377,116.59. This represents a 8.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This trade represents a 3.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,507 shares of company stock worth $42,694,080 in the last 90 days. 0.06% of the stock is owned by insiders.

About Apple

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.

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