Members Wealth LLC Makes New $2.53 Million Investment in Apple Inc. (NASDAQ:AAPL)

Members Wealth LLC purchased a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,672 shares of the iPhone maker's stock, valued at approximately $2,528,000. Apple comprises about 1.9% of Members Wealth LLC's investment portfolio, making the stock its 14th biggest position.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Apple by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after acquiring an additional 49,168,843 shares during the period. Geode Capital Management LLC grew its position in Apple by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock worth $84,999,145,000 after acquiring an additional 6,307,413 shares during the period. Norges Bank purchased a new position in Apple in the fourth quarter worth approximately $46,868,648,000. Northern Trust Corp grew its position in Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after acquiring an additional 20,079,472 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Apple by 14.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock worth $26,220,566,000 after acquiring an additional 13,137,968 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Stock Up 0.6%

NASDAQ AAPL traded up $1.26 during trading on Wednesday, reaching $201.56. 39,442,789 shares of the company's stock were exchanged, compared to its average volume of 53,445,309. The stock has a market cap of $3.01 trillion, a P/E ratio of 31.40, a price-to-earnings-growth ratio of 2.24 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. The company has a 50 day moving average price of $202.29 and a two-hundred day moving average price of $220.98. 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 issued 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. The firm had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.53 EPS. On average, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple declared that its board has initiated a stock buyback program on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its stock is undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.52%. The ex-dividend date was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is 16.20%.

Insider Activity at Apple

In related news, COO Jeffrey E. Williams sold 35,493 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value 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. The trade was a 8.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 38,822 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the transaction, the senior vice president now owns 179,158 shares in the company, valued at $40,072,269.86. The trade was a 17.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,507 shares of company stock worth $42,694,080 in the last quarter. Company insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. UBS Group reiterated a "buy" rating on shares of Apple in a research report on Sunday, June 1st. Loop Capital dropped their price objective on Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Morgan Stanley reaffirmed an "overweight" rating on shares of Apple in a research note on Friday, June 13th. Citigroup reaffirmed a "buy" rating on shares of Apple in a research note on Tuesday, June 10th. Finally, Raymond James Financial dropped their price objective on Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $234.86.

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.