SpringVest Wealth Management LLC bought a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,121 shares of the iPhone maker's stock, valued at approximately $1,533,000. Apple accounts for about 1.3% of SpringVest Wealth Management LLC's investment portfolio, making the stock its 16th biggest position.
Several other institutional investors have also made changes to their positions in AAPL. OneAscent Wealth Management LLC grew its position in Apple by 4.6% during the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock worth $2,337,000 after buying an additional 409 shares in the last quarter. Allstate Corp boosted its holdings in shares of Apple by 3,368.2% in the 4th quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock valued at $113,062,000 after purchasing an additional 438,471 shares in the last quarter. Vinva Investment Management Ltd boosted its holdings in shares of Apple by 12.4% in the 4th quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker's stock valued at $192,700,000 after purchasing an additional 83,997 shares in the last quarter. Tradewinds Capital Management LLC boosted its holdings in shares of Apple by 9.2% in the 4th quarter. Tradewinds Capital Management LLC now owns 21,198 shares of the iPhone maker's stock valued at $5,308,000 after purchasing an additional 1,779 shares in the last quarter. Finally, Berkshire Bank boosted its holdings in shares of Apple by 2.7% in the 4th quarter. Berkshire Bank now owns 89,580 shares of the iPhone maker's stock valued at $22,433,000 after purchasing an additional 2,360 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on AAPL shares. Scotiabank downgraded Apple to a "market perform" rating in a report on Friday, May 2nd. Jefferies Financial Group reaffirmed 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. Tigress Financial raised their target price on Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a report on Thursday, April 3rd. TD Cowen reduced their target price on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, DA Davidson increased their price target on Apple from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Three research 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $234.86.
Get Our Latest Stock Analysis on AAPL
Apple Trading Down 0.6%
Shares of AAPL 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 53,512,318. 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's fifty day simple moving average is $202.33 and its 200-day simple moving average is $221.12. The company has a market cap of $2.99 trillion, a PE ratio of 31.20, a P/E/G ratio of 2.25 and a beta of 1.22. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.62 by $0.03. The company had revenue of $95.36 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the business posted $1.53 EPS. As a group, equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. Apple's dividend payout ratio (DPR) is currently 16.20%.
Apple declared that its board has initiated a share repurchase plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its shares are undervalued.
Insider Activity
In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the transaction, the chief operating officer now owns 390,059 shares in the company, valued at approximately $87,377,116.59. The trade was a 8.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the transaction, the chief executive officer now owns 3,280,295 shares of the company's stock, valued at $733,637,976.75. This trade represents a 3.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,507 shares of company stock worth $42,694,080 in the last three months. Company insiders own 0.06% of the company's stock.
Apple Company Profile
(
Free Report)
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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