Schrum Private Wealth Management LLC Sells 16,097 Shares of Apple Inc. (NASDAQ:AAPL)

Schrum Private Wealth Management LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 59.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,794 shares of the iPhone maker's stock after selling 16,097 shares during the quarter. Apple comprises 2.9% of Schrum Private Wealth Management LLC's investment portfolio, making the stock its 5th largest holding. Schrum Private Wealth Management LLC's holdings in Apple were worth $2,078,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Wyrmwood Management LLC raised its position in Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker's stock worth $33,000 after buying an additional 69 shares during the last quarter. Gilfoyle & Co LLC lifted its position in Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker's stock valued at $40,000 after purchasing an additional 118 shares during the period. PayPay Securities Corp boosted its holdings in Apple by 70.2% in the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker's stock valued at $87,000 after purchasing an additional 210 shares in the last quarter. Cordant Inc. increased its position in Apple by 27.7% during the 3rd quarter. Cordant Inc. now owns 645 shares of the iPhone maker's stock worth $110,000 after purchasing an additional 140 shares during the period. Finally, Life Planning Partners Inc purchased a new position in shares of Apple during the 4th quarter worth approximately $132,000. Institutional investors and hedge funds own 60.41% of the company's stock.

Insider Activity

In other Apple news, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the transaction, the director now owns 4,434,576 shares of the company's stock, valued at $802,392,181.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the firm's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the sale, the director now directly owns 4,434,576 shares in the company, valued at $802,392,181.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 99,183 shares of the company's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the transaction, the chief executive officer now owns 3,377,407 shares of the company's stock, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. In the last ninety days, insiders sold 366,271 shares of company stock worth $63,653,887. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on AAPL. Rosenblatt Securities reaffirmed a "neutral" rating and set a $196.00 price objective (up previously from $189.00) on shares of Apple in a report on Friday. Bank of America increased their price target on shares of Apple from $225.00 to $230.00 and gave the company a "buy" rating in a report on Friday. Monness Crespi & Hardt boosted their price objective on shares of Apple from $200.00 to $205.00 and gave the stock a "buy" rating in a report on Friday. Robert W. Baird increased their target price on shares of Apple from $186.00 to $200.00 and gave the company an "outperform" rating in a report on Monday, January 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Apple from $210.00 to $225.00 and gave the company an "overweight" rating in a research report on Friday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $204.00.

Apple Stock Up 6.0 %

Apple stock traded up $10.35 during midday trading on Friday, hitting $183.38. 163,224,109 shares of the stock were exchanged, compared to its average volume of 59,692,680. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $199.62. The company has a 50 day moving average price of $172.17 and a two-hundred day moving average price of $181.67. The firm has a market cap of $2.83 trillion, a P/E ratio of 28.52, a P/E/G ratio of 2.22 and a beta of 1.26.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping analysts' consensus estimates of $1.51 by $0.02. The business had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 153.25%. The business's quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.52 earnings per share. On average, sell-side analysts predict that Apple Inc. will post 6.54 earnings per share for the current fiscal year.

Apple declared that its Board of Directors has initiated a stock buyback program on Thursday, May 2nd that allows the company to buyback $110.00 billion in shares. This buyback authorization allows the iPhone maker to repurchase up to 3.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 13th will be given a $0.25 dividend. This is a positive change from Apple's previous quarterly dividend of $0.24. The ex-dividend date is Friday, May 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.55%. Apple's dividend payout ratio (DPR) is presently 14.93%.

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.