Apple Inc. (NASDAQ:AAPL) Position Decreased by Carolinas Wealth Consulting LLC

Carolinas Wealth Consulting LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 35.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 58,890 shares of the iPhone maker’s stock after selling 31,806 shares during the quarter. Apple makes up about 2.6% of Carolinas Wealth Consulting LLC’s investment portfolio, making the stock its 10th biggest position. Carolinas Wealth Consulting LLC’s holdings in Apple were worth $14,747,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in AAPL. OneAscent Wealth Management LLC boosted its holdings in Apple by 4.6% in the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock valued at $2,337,000 after acquiring an additional 409 shares during the last quarter. Allstate Corp boosted its holdings in Apple by 3,368.2% in the fourth quarter. Allstate Corp now owns 451,489 shares of the iPhone maker’s stock valued at $113,062,000 after acquiring an additional 438,471 shares during the last quarter. Vinva Investment Management Ltd boosted its holdings in Apple by 12.4% in the fourth quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker’s stock valued at $192,700,000 after acquiring an additional 83,997 shares during the last quarter. Tradewinds Capital Management LLC boosted its holdings in Apple by 9.2% in the fourth quarter. Tradewinds Capital Management LLC now owns 21,198 shares of the iPhone maker’s stock valued at $5,308,000 after acquiring an additional 1,779 shares during the last quarter. Finally, Berkshire Bank boosted its holdings in Apple by 2.7% in the fourth quarter. Berkshire Bank now owns 89,580 shares of the iPhone maker’s stock valued at $22,433,000 after acquiring an additional 2,360 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Trading Up 2.2%

NASDAQ:AAPL opened at $201.00 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The business’s 50-day simple moving average is $202.35 and its 200 day simple moving average is $221.71. The stock has a market cap of $3.00 trillion, a price-to-earnings ratio of 31.31, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22.

Apple (NASDAQ:AAPLGet Free Report) last released its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business had revenue of $95.36 billion for the quarter, compared to analysts’ expectations of $94.04 billion. During the same quarter in the previous year, the firm posted $1.53 earnings per share. The company’s revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a $0.26 dividend. This is a boost from Apple’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. Apple’s payout ratio is 16.20%.

Apple announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AAPL. Wedbush reiterated an “outperform” rating and issued a $270.00 target price on shares of Apple in a report on Tuesday, June 10th. Morgan Stanley reiterated an “overweight” rating on shares of Apple in a report on Friday, June 13th. Rosenblatt Securities cut Apple from a “buy” rating to a “neutral” rating and set a $217.00 target price on the stock. in a report on Friday, May 2nd. DA Davidson lifted their target price on Apple from $230.00 to $250.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Apple in a report on Tuesday, June 10th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average price target of $234.86.

Get Our Latest Stock Report on AAPL

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 35,493 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the sale, the chief operating officer now directly owns 390,059 shares of the company’s stock, valued at $87,377,116.59. The trade was a 8.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Kondo sold 4,486 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider now directly owns 15,533 shares of the company’s stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is currently owned by corporate insiders.

Apple Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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