Hartmann Taylor Wealth Management LLC Takes Position in Apple Inc. (NASDAQ:AAPL)

Hartmann Taylor Wealth Management LLC acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 9,726 shares of the iPhone maker's stock, valued at approximately $2,160,000. Apple accounts for about 1.9% of Hartmann Taylor Wealth Management LLC's investment portfolio, making the stock its 17th biggest holding.

Several other institutional investors have also added to or reduced their stakes in the stock. Conquis Financial LLC purchased a new position in Apple during the 4th quarter valued at about $63,000. LSV Asset Management bought a new position in shares of Apple during the fourth quarter valued at approximately $65,000. Pillar Financial Advisors LLC bought a new position in shares of Apple during the fourth quarter valued at approximately $82,000. Compass Planning Associates Inc bought a new stake in shares of Apple in the 4th quarter worth approximately $96,000. Finally, Collier Financial bought a new stake in shares of Apple in the 4th quarter worth approximately $140,000. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Performance

Shares of Apple stock traded up $3.95 during trading on Wednesday, hitting $233.60. 55,591,683 shares of the company's stock were exchanged, compared to its average volume of 57,968,047. 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 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a market capitalization of $3.47 trillion, a price-to-earnings ratio of 35.51, a PEG ratio of 2.38 and a beta of 1.16. The business has a 50-day simple moving average of $207.88 and a 200-day simple moving average of $213.21.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. The company had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%. The firm's quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.40 EPS. On average, research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its Board of Directors has initiated a stock buyback program 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 stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, August 11th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple's payout ratio is 15.78%.

Insider Buying and Selling

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the transaction, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Raymond James Financial reissued an "outperform" rating and issued a $240.00 target price (up from $230.00) on shares of Apple in a report on Friday, August 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research report on Friday, July 25th. Wedbush reiterated an "outperform" rating and set a $270.00 price target on shares of Apple in a report on Thursday, August 7th. Barclays boosted their price objective on shares of Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a report on Friday, August 1st. Finally, BMO Capital Markets reissued a "buy" rating on shares of Apple in a report on Wednesday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and an average target price of $237.60.

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.