Waller Financial Planning Group Inc. increased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 37.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,149 shares of the iPhone maker's stock after buying an additional 6,602 shares during the period. Apple comprises 1.5% of Waller Financial Planning Group Inc.'s portfolio, making the stock its 18th largest holding. Waller Financial Planning Group Inc.'s holdings in Apple were worth $5,364,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Drystone LLC bought a new position in shares of Apple during the fourth quarter worth about $25,000. Life Planning Partners Inc acquired a new stake in Apple during the fourth quarter valued at approximately $47,000. Conquis Financial LLC bought a new position in Apple during the 4th quarter worth approximately $63,000. LSV Asset Management acquired a new position in shares of Apple in the 4th quarter worth approximately $65,000. Finally, Pillar Financial Advisors LLC acquired a new position in shares of Apple in the 4th quarter worth approximately $82,000. Institutional investors and hedge funds own 67.73% of the company's stock.
Insider Buying and Selling
In other news, SVP Katherine L. Adams sold 38,822 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the sale, the senior vice president now owns 179,158 shares of the company's stock, valued at approximately $40,072,269.86. This represents a 17.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 4,486 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider now directly owns 15,533 shares in the company, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,507 shares of company stock worth $42,694,080 in the last quarter. 0.06% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on AAPL shares. UBS Group restated a "buy" rating on shares of Apple in a research note on Sunday, June 1st. China Renaissance began coverage on Apple in a research report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price objective for the company. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Apple in a research report on Wednesday, May 21st. Monness Crespi & Hardt raised their target price on Apple to $245.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Apple from $270.00 to $245.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $234.86.
Check Out Our Latest Stock Report on AAPL
Apple Price Performance
Shares of NASDAQ:AAPL opened at $201.50 on Tuesday. The company's fifty day moving average price is $202.33 and its 200-day moving average price is $221.12. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. The firm has a market capitalization of $3.01 trillion, a price-to-earnings ratio of 31.39, a PEG ratio of 2.24 and a beta of 1.22. Apple Inc. has a one year low of $169.21 and a one year high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $94.04 billion. During the same quarter in the prior year, the firm earned $1.53 earnings per share. The firm's revenue was up 5.1% on a year-over-year basis. On average, equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple announced that its board has initiated a stock repurchase plan on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.
Apple Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a dividend of $0.26 per share. 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 dividend yield of 0.52%. Apple's dividend payout ratio is 16.20%.
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.
Further Reading
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Apple, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Apple wasn't on the list.
While Apple currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
