Twin Peaks Wealth Advisors LLC Acquires 6,101 Shares of Apple Inc. (NASDAQ:AAPL)

Twin Peaks Wealth Advisors LLC grew its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 10.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 65,563 shares of the iPhone maker's stock after purchasing an additional 6,101 shares during the quarter. Apple makes up approximately 6.9% of Twin Peaks Wealth Advisors LLC's holdings, making the stock its biggest holding. Twin Peaks Wealth Advisors LLC's holdings in Apple were worth $16,418,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. State Street Corp raised its position in shares of Apple by 10.6% during the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock worth $136,074,372,000 after purchasing an additional 55,935,105 shares during the period. Geode Capital Management LLC raised its holdings in Apple by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock worth $77,542,863,000 after buying an additional 20,483,787 shares during the period. FMR LLC lifted its stake in Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock valued at $84,779,231,000 after buying an additional 18,224,005 shares in the last quarter. Strategic Financial Concepts LLC boosted its holdings in shares of Apple by 25,285.2% in the fourth quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker's stock valued at $2,411,260,000 after buying an additional 9,590,933 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Apple by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker's stock worth $22,121,656,000 after acquiring an additional 5,893,741 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Transactions at Apple

In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the sale, the chief operating officer now directly owns 390,059 shares in the company, valued at $87,377,116.59. This represents a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the transaction, the chief executive officer now owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. The trade was a 3.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 187,021 shares of company stock valued at $41,760,140. Company insiders own 0.06% of the company's stock.

Apple Price Performance

NASDAQ:AAPL traded up $0.03 during trading hours on Tuesday, reaching $198.92. 49,654,320 shares of the company were exchanged, compared to its average volume of 56,219,123. The business has a 50 day moving average of $211.32 and a 200 day moving average of $228.33. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The company has a market capitalization of $2.99 trillion, a P/E 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.03. The company had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. Apple's quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.53 EPS. Research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 12th will be issued a $0.26 dividend. 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 0.52%. The ex-dividend date is Monday, May 12th. Apple's dividend payout ratio (DPR) is currently 16.20%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AAPL. China Renaissance started coverage on Apple in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 target price on the stock. Scotiabank lowered shares of Apple to a "market perform" rating in a research report on Friday. Morgan Stanley raised their target price on shares of Apple from $220.00 to $235.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Rosenblatt Securities cut shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target on the stock. in a research report on Friday. Finally, Barclays decreased their price objective on Apple from $197.00 to $173.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $235.80.

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.