Heck Capital Advisors LLC Makes New $10.86 Million Investment in Apple Inc. (NASDAQ:AAPL)

Heck Capital Advisors LLC acquired a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 43,358 shares of the iPhone maker's stock, valued at approximately $10,858,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Regent Peak Wealth Advisors LLC increased 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 valued at $28,012,000 after acquiring an additional 1,050 shares during the period. RMR Wealth Builders grew its stake in Apple by 0.7% in the fourth quarter. RMR Wealth Builders now owns 119,262 shares of the iPhone maker's stock valued at $29,866,000 after purchasing an additional 786 shares during the last quarter. Czech National Bank raised its holdings in Apple by 5.8% in the fourth quarter. Czech National Bank now owns 3,277,536 shares of the iPhone maker's stock worth $820,761,000 after purchasing an additional 180,292 shares in the last quarter. Paragon Advisors LLC lifted its position in shares of Apple by 21.8% during the fourth quarter. Paragon Advisors LLC now owns 8,685 shares of the iPhone maker's stock valued at $2,175,000 after buying an additional 1,557 shares during the last quarter. Finally, Aprio Wealth Management LLC boosted its holdings in shares of Apple by 17.1% in the 4th quarter. Aprio Wealth Management LLC now owns 56,222 shares of the iPhone maker's stock valued at $14,079,000 after buying an additional 8,229 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AAPL. Morgan Stanley reissued an "overweight" rating on shares of Apple in a research report on Friday, June 13th. TD Cowen lowered their target price on shares of Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Needham & Company LLC restated a "hold" rating on shares of Apple in a research note on Tuesday, June 10th. Monness Crespi & Hardt lifted their price objective on shares of Apple to $245.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Finally, JPMorgan Chase & Co. dropped their target price on Apple from $270.00 to $245.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $234.86.

Apple Trading Down 0.6%

Apple stock traded down $1.20 during mid-day trading on Tuesday, hitting $200.30. The company's stock had a trading volume of 53,951,325 shares, compared to its average volume of 53,620,339. The stock's fifty day moving average is $202.33 and its two-hundred day moving average is $221.12. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $2.99 trillion, a PE ratio of 31.20, a price-to-earnings-growth ratio of 2.24 and a beta of 1.22. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The business had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business's revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.53 EPS. On average, analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors 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 yield of 0.52%. Apple's dividend payout ratio is presently 16.20%.

Apple declared that its Board of Directors has approved a share repurchase program on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Insider Activity at Apple

In related news, COO Jeffrey E. Williams sold 35,493 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the sale, the chief operating officer now owns 390,059 shares of the company's stock, valued at $87,377,116.59. This trade represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a legal 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 that occurred 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 completion of the transaction, the chief financial officer now owns 4,569 shares of the company's stock, valued at $941,214. This represents a 50.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,507 shares of company stock worth $42,694,080 in the last three months. 0.06% of the stock is owned by company insiders.

Apple Company 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.