MorganRosel Wealth Management LLC Buys 8,342 Shares of Apple Inc. (NASDAQ:AAPL)

MorganRosel Wealth Management LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 134.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,556 shares of the iPhone maker's stock after buying an additional 8,342 shares during the quarter. Apple makes up 1.2% of MorganRosel Wealth Management LLC's portfolio, making the stock its 21st largest position. MorganRosel Wealth Management LLC's holdings in Apple were worth $3,645,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Tull Financial Group Inc. increased its position in Apple by 16.6% during the fourth quarter. Tull Financial Group Inc. now owns 2,874 shares of the iPhone maker's stock worth $720,000 after buying an additional 409 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in Apple by 1.4% during the 4th quarter. Illinois Municipal Retirement Fund now owns 1,054,857 shares of the iPhone maker's stock valued at $264,157,000 after purchasing an additional 14,337 shares during the last quarter. Strategent Financial LLC bought a new position in Apple during the fourth quarter worth $441,000. Continuum Wealth Advisors LLC increased its holdings in shares of Apple by 14.1% in the fourth quarter. Continuum Wealth Advisors LLC now owns 2,141 shares of the iPhone maker's stock valued at $536,000 after purchasing an additional 265 shares during the last quarter. Finally, Exchange Capital Management Inc. raised its position in shares of Apple by 24.9% in the fourth quarter. Exchange Capital Management Inc. now owns 33,033 shares of the iPhone maker's stock valued at $8,272,000 after purchasing an additional 6,592 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Insider Activity at Apple

In other news, CEO Timothy D. Cook sold 108,136 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Jeffrey E. Williams sold 35,493 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the transaction, the chief operating officer now directly owns 390,059 shares in the company, valued at approximately $87,377,116.59. This trade represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 187,021 shares of company stock worth $41,760,140 in the last quarter. Company insiders own 0.06% of the company's stock.

Apple Trading Up 0.0 %

AAPL traded up $0.03 during trading on Tuesday, reaching $198.92. 49,654,320 shares of the stock traded hands, compared to its average volume of 56,219,123. The stock's 50-day moving average is $211.32 and its 200 day moving average is $228.33. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. 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 stock has a market capitalization of $2.99 trillion, a PE ratio of 31.57, a P/E/G ratio of 2.44 and a beta of 1.27.

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, topping the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 160.83% and a net margin of 24.30%. The business had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. During the same quarter last year, the firm posted $1.53 earnings per share. The firm's revenue was up 5.1% on a year-over-year basis. Equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

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

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 12th will be paid a $0.26 dividend. The ex-dividend date is Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is currently 16.20%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of Apple from $220.00 to $235.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Loop Capital lowered their target price on Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Tigress Financial upped their price objective on Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a report on Thursday, April 3rd. Redburn Partners set a $230.00 target price on Apple in a report on Friday, January 31st. Finally, Barclays lowered their target price on shares of Apple from $197.00 to $173.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $235.80.

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.