Tumwater Wealth Management LLC Acquires Shares of 5,139 Apple Inc. (NASDAQ:AAPL)

Tumwater Wealth Management LLC purchased a new position in Apple Inc. (NASDAQ:AAPL - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,139 shares of the iPhone maker's stock, valued at approximately $1,287,000. Apple makes up about 0.7% of Tumwater Wealth Management LLC's holdings, making the stock its 10th biggest position.

Other large investors also recently modified their holdings of the company. State Street Corp grew its holdings in shares of Apple by 10.6% during the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock worth $136,074,372,000 after purchasing an additional 55,935,105 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Apple by 23,555.4% during the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock worth $5,272,653,000 after purchasing an additional 20,966,232 shares in the last quarter. Geode Capital Management LLC boosted its stake in Apple by 6.5% in the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock worth $77,542,863,000 after buying an additional 20,483,787 shares in the last quarter. FMR LLC boosted its stake in Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock worth $84,779,231,000 after buying an additional 18,224,005 shares in the last quarter. Finally, Strategic Financial Concepts LLC boosted its stake in Apple by 25,285.2% in the fourth quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker's stock worth $2,411,260,000 after buying an additional 9,590,933 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Performance

NASDAQ:AAPL traded down $0.47 on Thursday, hitting $199.95. The stock had a trading volume of 51,367,725 shares, compared to its average volume of 56,221,859. The stock has a market cap of $2.99 trillion, a price-to-earnings ratio of 31.74, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The business's 50-day simple moving average is $203.59 and its two-hundred day simple moving average is $225.20. 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 announced its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.03. The business had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. The business's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the firm posted $1.53 earnings per share. As a group, research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple announced that its board has initiated a share buyback program on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are often an indication 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. Shareholders 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%. This is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio (DPR) is presently 16.20%.

Insiders Place Their Bets

In other news, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the transaction, the chief financial officer now directly owns 4,569 shares of the company's stock, valued at $941,214. The trade was a 50.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 3,280,295 shares in the company, 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. Over the last three months, insiders have sold 191,507 shares of company stock valued at $42,694,080. Insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AAPL. DA Davidson boosted their price objective on Apple from $230.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Needham & Company LLC restated a "buy" rating and set a $225.00 target price on shares of Apple in a report on Friday, May 2nd. Barclays decreased their target price on Apple from $197.00 to $173.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Redburn Partners set a $230.00 target price on Apple in a report on Friday, January 31st. Finally, Jefferies Financial Group reiterated an "underperform" rating and issued a $170.62 price objective (up previously from $167.88) on shares of Apple in a report on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $235.80.

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.