Daymark Wealth Partners LLC Raises Stock Position in Apple Inc. (NASDAQ:AAPL)

Daymark Wealth Partners LLC grew its holdings in Apple Inc. (NASDAQ:AAPL) by 0.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 823,826 shares of the iPhone maker’s stock after purchasing an additional 273 shares during the quarter. Apple makes up approximately 5.7% of Daymark Wealth Partners LLC’s holdings, making the stock its 2nd biggest holding. Daymark Wealth Partners LLC’s holdings in Apple were worth $141,270,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Wyrmwood Management LLC raised its position in shares of Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after acquiring an additional 69 shares during the period. A.P. Gilfoyle & Co. L.P. acquired a new stake in shares of Apple in the 4th quarter valued at approximately $39,000. Gilfoyle & Co LLC raised its position in shares of Apple by 118.0% in the 4th 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. raised its position in shares of Apple by 657.1% in the 4th 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 during the period. Finally, Clarity Asset Management Inc. acquired a new stake in shares of Apple in the 4th quarter valued at approximately $85,000. Institutional investors own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. DZ Bank reiterated a “hold” rating and issued a $180.00 price target on shares of Apple in a research report on Thursday, March 28th. Canaccord Genuity Group raised their target price on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Needham & Company LLC restated a “buy” rating and set a $220.00 target price on shares of Apple in a report on Tuesday, June 11th. Canaccord Genuity Group raised their target price on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Saturday, May 4th. Finally, Erste Group Bank upgraded shares of Apple from a “hold” rating to a “buy” rating in a report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $210.83.

Insider Transactions at Apple

In other news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction 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 completion of the sale, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction 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 completion of the sale, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction on Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the sale, the chief executive officer now directly 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. Over the last 90 days, insiders sold 346,270 shares of company stock valued at $60,880,196. 0.06% of the stock is currently owned by corporate insiders.

Apple Trading Up 0.3 %

AAPL stock opened at $208.14 on Tuesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. The company has a fifty day moving average price of $188.57 and a two-hundred day moving average price of $184.85. Apple Inc. has a one year low of $164.07 and a one year high of $220.20. The stock has a market cap of $3.19 trillion, a price-to-earnings ratio of 32.37, a price-to-earnings-growth ratio of 2.55 and a beta of 1.25.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The firm had revenue of $90.75 billion during the quarter, compared to analysts’ expectations of $90.37 billion. During the same period in the previous year, the business posted $1.52 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post 6.58 EPS for the current year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.48%. This is an increase from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Apple declared that its board has approved a share buyback plan on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

About Apple

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.