Cooksen Wealth LLC Makes New $706,000 Investment in Apple Inc. (NASDAQ:AAPL)

Cooksen Wealth LLC bought a new stake in shares of Apple Inc. (NASDAQ:AAPL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,668 shares of the iPhone maker’s stock, valued at approximately $706,000. Apple accounts for 0.8% of Cooksen Wealth LLC’s holdings, making the stock its 26th largest holding.

Other hedge funds have also recently modified their holdings of the company. Wyrmwood Management LLC lifted its holdings in Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after buying an additional 69 shares in the last quarter. A.P. Gilfoyle & Co. L.P. purchased a new position in shares of Apple during the fourth quarter worth approximately $39,000. Gilfoyle & Co LLC increased its position in shares of Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after acquiring an additional 118 shares during the period. University of Texas Texas AM Investment Managment Co. raised its stake in shares of Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after acquiring an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. purchased a new stake in shares of Apple in the fourth quarter valued at approximately $85,000. Institutional investors own 60.41% of the company’s stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $214.29 on Wednesday. The business’s 50 day moving average price is $185.62 and its 200 day moving average price is $184.36. The firm has a market cap of $3.29 trillion, a P/E ratio of 33.33, a P/E/G ratio of 2.59 and a beta of 1.25. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $220.20.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The firm had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The company’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.52 earnings per share. On average, sell-side analysts expect that Apple Inc. will post 6.58 earnings per share for the current year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%. This is an increase from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio is 15.55%.

Apple declared that its board has authorized a stock repurchase plan on Thursday, May 2nd that permits the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AAPL shares. Monness Crespi & Hardt restated a “buy” rating and issued a $205.00 price objective on shares of Apple in a report on Thursday, June 6th. Maxim Group started coverage on shares of Apple in a report on Wednesday, April 17th. They issued a “hold” rating and a $178.00 price target for the company. Rosenblatt Securities reiterated a “neutral” rating and set a $196.00 price objective on shares of Apple in a research note on Tuesday, June 11th. Wedbush boosted their price objective on shares of Apple from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, May 24th. Finally, DZ Bank restated a “hold” rating and set a $180.00 target price on shares of Apple in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $208.06.

Insider Transactions at Apple

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the transaction, the director now owns 4,359,576 shares in the company, valued at $835,207,570.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the transaction, the director now directly owns 4,359,576 shares in the company, valued at $835,207,570.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,999 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction of $951,809.60. Following the transaction, the insider now directly owns 29,278 shares in the company, valued at $5,574,531.20. The disclosure for this sale can be found here. Insiders have sold a total of 346,270 shares of company stock valued at $60,880,196 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

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.