Apple Inc. (NASDAQ:AAPL) Shares Acquired by Udine Wealth Management Inc.

Udine Wealth Management Inc. boosted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,389 shares of the iPhone maker's stock after acquiring an additional 2,052 shares during the quarter. Apple comprises about 10.0% of Udine Wealth Management Inc.'s holdings, making the stock its 3rd largest holding. Udine Wealth Management Inc.'s holdings in Apple were worth $14,969,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sard Wealth Management Group LLC boosted its holdings in Apple by 18.4% in the 1st quarter. Sard Wealth Management Group LLC now owns 12,248 shares of the iPhone maker's stock worth $2,721,000 after acquiring an additional 1,907 shares during the period. Sovereign Financial Group Inc. boosted its holdings in Apple by 4.8% in the 1st quarter. Sovereign Financial Group Inc. now owns 56,809 shares of the iPhone maker's stock worth $12,619,000 after acquiring an additional 2,593 shares during the period. Summit Investment Advisory Services LLC boosted its holdings in Apple by 54.7% in the 1st quarter. Summit Investment Advisory Services LLC now owns 2,028 shares of the iPhone maker's stock worth $450,000 after acquiring an additional 717 shares during the period. Burkett Financial Services LLC boosted its stake in shares of Apple by 0.6% during the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock valued at $3,199,000 after buying an additional 93 shares during the last quarter. Finally, Littlejohn Financial Services Inc. boosted its stake in shares of Apple by 0.9% during the 1st quarter. Littlejohn Financial Services Inc. now owns 8,715 shares of the iPhone maker's stock valued at $1,936,000 after buying an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider directly owned 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the transaction, the chief financial officer directly owned 4,569 shares in the company, valued at $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AAPL has been the subject of several research analyst reports. Raymond James Financial reduced their target price on Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. TD Cowen reduced their target price on Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Rosenblatt Securities cut Apple from a "buy" rating to a "neutral" rating and set a $217.00 target price for the company. in a research note on Friday, May 2nd. Wedbush reiterated an "outperform" rating and set a $270.00 target price on shares of Apple in a research note on Tuesday, June 10th. Finally, Barclays set a $173.00 target price on Apple and gave the company an "underweight" rating in a research note on Tuesday, June 24th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $234.95.

Apple Stock Performance

NASDAQ AAPL traded down $1.54 during trading hours on Monday, hitting $212.01. The company had a trading volume of 13,409,493 shares, compared to its average volume of 53,441,782. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. The business has a fifty day simple moving average of $203.35 and a 200-day simple moving average of $218.44. The firm has a market cap of $3.17 trillion, a P/E ratio of 33.06, a price-to-earnings-growth ratio of 2.38 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping 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 firm had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same period last year, the company earned $1.53 earnings per share. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. Equities analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Apple Increases Dividend

The business 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. The ex-dividend date was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.49%. Apple's dividend payout ratio (DPR) is currently 16.20%.

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.