Apple Inc. (NASDAQ:AAPL) is Wealth Management Partners LLC’s 5th Largest Position

Wealth Management Partners LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 56,451 shares of the iPhone maker’s stock after selling 2,014 shares during the period. Apple accounts for about 4.9% of Wealth Management Partners LLC’s portfolio, making the stock its 5th largest position. Wealth Management Partners LLC’s holdings in Apple were worth $9,680,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AAPL. Conservest Capital Advisors Inc. increased its holdings in shares of Apple by 0.3% in the third quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock valued at $2,877,000 after purchasing an additional 55 shares during the last quarter. Flagstone Financial Management grew its holdings in shares of Apple by 0.9% in the fourth quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock valued at $1,173,000 after purchasing an additional 56 shares during the period. High Pines Wealth Management LLC increased its position in Apple by 0.7% during the fourth quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock worth $1,638,000 after purchasing an additional 58 shares during the last quarter. Asset Planning Corporation raised its stake in Apple by 1.0% during the fourth quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock worth $1,181,000 after purchasing an additional 59 shares during the period. Finally, Columbus Macro LLC boosted its holdings in Apple by 0.5% in the 4th quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock valued at $2,120,000 after purchasing an additional 59 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Insider Activity at Apple

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AAPL shares. Maxim Group lifted their price target on shares of Apple from $178.00 to $195.00 and gave the company a “hold” rating in a research report on Tuesday, June 25th. Melius Research lifted their target price on Apple from $227.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Morgan Stanley reiterated an “overweight” rating and set a $216.00 price target on shares of Apple in a report on Tuesday, June 11th. Wedbush boosted their price objective on shares of Apple from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Finally, Loop Capital lowered their target price on shares of Apple from $185.00 to $170.00 and set a “hold” rating for the company in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $215.71.

Apple Stock Down 1.6 %

Apple stock opened at $210.62 on Friday. The stock’s fifty day moving average is $192.13 and its two-hundred day moving average is $185.40. The stock has a market cap of $3.23 trillion, a PE ratio of 32.76, a P/E/G ratio of 2.60 and a beta of 1.25. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $220.20. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.02. The business had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the company earned $1.52 EPS. On average, sell-side analysts expect that Apple Inc. will post 6.59 EPS for the current fiscal year.

Apple announced that its Board of Directors has approved a share repurchase plan on Thursday, May 2nd that allows the company to repurchase $110.00 billion in shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were issued a $0.25 dividend. This is a boost from Apple’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, May 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.47%. Apple’s dividend payout ratio is presently 15.55%.

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.