hemming& Wealth Management Inc. Invests $477,000 in Apple Inc. $AAPL

hemming& Wealth Management Inc. purchased a new position in shares of Apple Inc. (NASDAQ:AAPL) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,753 shares of the iPhone maker’s stock, valued at approximately $477,000. Apple comprises 0.3% of hemming& Wealth Management Inc.’s portfolio, making the stock its 13th biggest position.

Other large investors also recently bought and sold shares of the company. ROSS JOHNSON & Associates LLC increased its holdings in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares during the last quarter. Timmons Wealth Management LLC acquired a new position in Apple during the fourth quarter worth $69,000. LSV Asset Management acquired a new position in Apple during the fourth quarter worth $65,000. Inspire Investing LLC purchased a new stake in Apple in the 4th quarter valued at $76,000. Finally, Basso Capital Management L.P. acquired a new stake in shares of Apple in the 4th quarter worth $88,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Price Performance

NASDAQ:AAPL opened at $298.01 on Monday. Apple Inc. has a 52 week low of $196.85 and a 52 week high of $317.40. The stock’s fifty day moving average is $289.73 and its two-hundred day moving average is $272.91. The stock has a market capitalization of $4.38 trillion, a price-to-earnings ratio of 36.04, a price-to-earnings-growth ratio of 2.59 and a beta of 1.09. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. The business had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The company’s revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.65 earnings per share. Research analysts anticipate that Apple Inc. will post 8.75 EPS for the current year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were given a $0.27 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 annualized dividend and a yield of 0.4%. This is an increase from Apple’s previous quarterly dividend of $0.26. Apple’s dividend payout ratio is presently 13.06%.

Insider Transactions at Apple

In other news, insider Ben Borders sold 1,274 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the sale, the insider owned 38,713 shares of the company’s stock, valued at approximately $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 30,002 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the completion of the transaction, the senior vice president directly owned 136,810 shares of the company’s stock, valued at approximately $34,934,433.50. The trade was a 17.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 97,875 shares of company stock valued at $24,998,541. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several analyst reports. Wedbush reiterated an “outperform” rating and set a $400.00 price target on shares of Apple in a report on Friday, June 5th. Morgan Stanley set a $325.00 price objective on shares of Apple in a research report on Tuesday, June 9th. Robert W. Baird set a $310.00 target price on shares of Apple in a research note on Friday, May 1st. Wells Fargo & Company reiterated an “overweight” rating and issued a $310.00 target price (up from $300.00) on shares of Apple in a report on Friday, May 1st. Finally, TD Cowen raised their price objective on Apple from $335.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $314.59.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s planned price increases could protect margins as memory and storage costs rise, and Bank of America reiterated a Buy rating with a $380 target, citing Apple’s pricing power and supply-chain strength. Article Title
• Positive Sentiment: Reports of upcoming AI-focused devices and a second-generation iPhone Air support confidence in Apple’s product pipeline and longer-term growth story. Article Title
• Neutral Sentiment: Apple’s planned price hikes may help earnings, but they could also pressure demand if consumers balk at higher handset prices. Article Title
• Neutral Sentiment: Apple opening Brazil’s App Store to alternative marketplaces reduces regulatory friction there, but it also underscores ongoing global platform scrutiny. Article Title

Apple Profile

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.