Carolinas Wealth Consulting LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free 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 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
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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