Wolff Wiese Magana LLC Has $3.34 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Key Points

• Wolff Wiese Magana LLC reduced its stake in Apple Inc. by 23.2%, now holding 15,029 shares valued at approximately $3.34 million, making Apple the firm's 8th largest position.
• Several institutional investors, including Norges Bank and Vanguard Group Inc., have significantly increased their holdings in Apple, with Vanguard owning over 1.39 billion shares valued at nearly $350 billion.
• Apple announced a $100 billion share buyback plan and recently declared a quarterly dividend of $0.26 per share, reflecting a 0.5% yield, indicating its strong cash position and commitment to returning value to shareholders.

Wolff Wiese Magana LLC lowered its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 23.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,029 shares of the iPhone maker's stock after selling 4,542 shares during the quarter. Apple makes up about 2.3% of Wolff Wiese Magana LLC's investment portfolio, making the stock its 8th largest holding. Wolff Wiese Magana LLC's holdings in Apple were worth $3,338,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Life Planning Partners Inc acquired a new position in shares of Apple during the 4th quarter worth $47,000. Conquis Financial LLC acquired a new stake in Apple in the fourth quarter valued at $63,000. LSV Asset Management acquired a new stake in Apple during the 4th quarter worth about $65,000. Pillar Financial Advisors LLC acquired a new stake in Apple during the 4th quarter worth about $82,000. Finally, Compass Planning Associates Inc acquired a new stake in Apple in the fourth quarter worth $96,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Stock Performance

NASDAQ AAPL traded down $5.19 during trading hours on Friday, hitting $202.38. 97,423,066 shares of the company's stock traded hands, compared to its average volume of 44,912,472. The business's fifty day moving average price is $205.37 and its two-hundred day moving average price is $213.60. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $3.02 trillion, a P/E ratio of 30.71, a P/E/G ratio of 2.22 and a beta of 1.17. 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 posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 172.48% and a net margin of 24.30%. The business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same period in the prior year, the company posted $1.40 EPS. The firm's revenue for the quarter was up 9.6% compared to the same quarter last year. Equities research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its board has authorized a stock buyback 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 shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, August 11th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, August 11th. Apple's dividend payout ratio (DPR) is presently 15.78%.

Insider Activity

In other news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction that occurred 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 owned 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Loop Capital dropped their price objective on shares of Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. JPMorgan Chase & Co. upped their price target on Apple from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Friday. Rosenblatt Securities reiterated a "neutral" rating and issued a $217.00 price target on shares of Apple in a research report on Tuesday, July 29th. Raymond James Financial reaffirmed an "outperform" rating and issued a $240.00 price target (up previously from $230.00) on shares of Apple in a report on Friday. Finally, Evercore ISI upped their target price on shares of Apple to $250.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and an average target price of $237.25.

Apple 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.