Mascagni Wealth Management Inc. Takes $5.08 Million Position in Apple Inc. (NASDAQ:AAPL)

Mascagni Wealth Management Inc. acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 20,273 shares of the iPhone maker's stock, valued at approximately $5,077,000. Apple makes up about 4.4% of Mascagni Wealth Management Inc.'s portfolio, making the stock its 2nd biggest position.

Other large investors have also bought and sold shares of the company. Drystone LLC purchased a new position in Apple during the fourth quarter valued at $25,000. Conquis Financial LLC bought a new position in shares of Apple during the fourth quarter valued at $63,000. LSV Asset Management bought a new position in shares of Apple during the fourth quarter valued at $65,000. Pillar Financial Advisors LLC purchased a new position in shares of Apple in the 4th quarter worth about $82,000. Finally, Compass Planning Associates Inc bought a new position in Apple in the 4th quarter worth about $96,000. 67.73% of the stock is owned by institutional investors.

Apple Stock Performance

Shares of NASDAQ:AAPL traded up $0.08 during midday trading on Friday, hitting $201.08. The company had a trading volume of 72,532,193 shares, compared to its average volume of 53,460,127. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a fifty day moving average of $202.52 and a two-hundred day moving average of $220.53. The company has a market cap of $3.00 trillion, a price-to-earnings ratio of 31.32, a PEG ratio of 2.25 and a beta of 1.22. 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 (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. During the same quarter in the previous year, the company posted $1.53 earnings per share. Apple's revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple declared that its board has authorized a stock 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 repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

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 issued a $0.26 dividend. 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 dividend payout ratio is currently 16.20%.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,486 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider now owns 15,533 shares in the company, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 35,493 shares of the firm's stock in a transaction dated 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 directly owns 390,059 shares in the company, valued at approximately $87,377,116.59. This represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,507 shares of company stock worth $42,694,080. Company insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several recent analyst reports. Raymond James Financial cut their price objective on shares of Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Morgan Stanley reiterated an "overweight" rating on shares of Apple in a report on Friday, June 13th. Wedbush restated an "outperform" rating and issued a $270.00 price objective on shares of Apple in a report on Tuesday, June 10th. Bank of America reaffirmed a "buy" rating and issued a $235.00 price objective on shares of Apple in a research report on Tuesday, June 10th. Finally, Jefferies Financial Group reissued an "underperform" rating and issued a $170.62 target price (up previously from $167.88) on shares of Apple in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have assigned 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, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $234.39.

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.