Avondale Wealth Management Has $2.29 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Avondale Wealth Management raised its stake in Apple Inc. (NASDAQ:AAPL) by 23.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,328 shares of the iPhone maker’s stock after purchasing an additional 2,526 shares during the period. Apple accounts for approximately 1.6% of Avondale Wealth Management’s investment portfolio, making the stock its 12th biggest position. Avondale Wealth Management’s holdings in Apple were worth $2,285,000 as of its most recent SEC filing.

Other large investors 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 worth $33,000 after purchasing an additional 69 shares during the last quarter. A.P. Gilfoyle & Co. L.P. acquired a new stake in shares of Apple during the fourth quarter worth $39,000. Gilfoyle & Co LLC boosted its position in shares of 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 acquiring an additional 118 shares during the period. University of Texas Texas AM Investment Managment Co. grew its stake in shares of Apple by 657.1% in 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. bought a new position in Apple during the fourth quarter worth about $85,000. 60.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on AAPL. Loop Capital cut their price objective on shares of Apple from $185.00 to $170.00 and set a “hold” rating for the company in a report on Monday, April 1st. DA Davidson raised Apple from a “neutral” rating to a “buy” rating and increased their price target for the stock from $200.00 to $230.00 in a research report on Tuesday, June 11th. Wedbush lifted their price objective on Apple from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Needham & Company LLC reissued a “buy” rating and set a $220.00 target price on shares of Apple in a report on Tuesday, June 11th. Finally, Citigroup dropped their price target on Apple from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Monday, April 29th. One 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 given a strong buy rating to the company’s stock. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average price target of $208.06.

Insider Buying and Selling at Apple

In other news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Timothy D. Cook sold 99,183 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were 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 directly owns 3,377,407 shares in the company, valued at $574,260,512.21. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $18,768,046.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 346,270 shares of company stock worth $60,880,196. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Down 1.1 %

Shares of NASDAQ:AAPL opened at $214.29 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The business has a fifty day simple moving average of $186.55 and a 200 day simple moving average of $184.57. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $220.20. The firm has a market cap of $3.29 trillion, a P/E ratio of 33.33, a P/E/G ratio of 2.64 and a beta of 1.25.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, topping the consensus estimate of $1.51 by $0.02. The company 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 148.33%. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.52 earnings per share. Analysts predict that Apple Inc. will post 6.58 earnings per share for the current year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.00 annualized dividend and a 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 announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 2nd that allows the company to buyback $110.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

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.