Bridgeworth LLC Has $6.81 Million Position in Apple Inc. (NASDAQ:AAPL)

Bridgeworth LLC grew its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,423 shares of the iPhone maker’s stock after purchasing an additional 69 shares during the period. Apple comprises approximately 1.1% of Bridgeworth LLC’s holdings, making the stock its 22nd biggest holding. Bridgeworth LLC’s holdings in Apple were worth $6,811,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Robinson Value Management Ltd. acquired a new position in Apple during the 3rd quarter worth about $28,000. Hanseatic Management Services Inc. lifted its position in Apple by 75.4% during the 3rd quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock worth $34,000 after buying an additional 107 shares in the last quarter. HBC Financial Services PLLC lifted its position in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares in the last quarter. Align Wealth Management LLC acquired a new position in Apple during the 4th quarter worth about $55,000. Finally, PayPay Securities Corp acquired a new position in Apple during the 4th quarter worth about $60,000. Institutional investors and hedge funds own 57.60% of the company’s stock.

Analyst Ratings Changes

AAPL has been the subject of several recent research reports. UBS Group set a $180.00 price objective on Apple in a report on Monday, April 3rd. Robert W. Baird boosted their price objective on Apple from $170.00 to $180.00 in a report on Tuesday, May 2nd. Loop Capital cut Apple from a “buy” rating to a “hold” rating and set a $180.00 price objective for the company. in a report on Monday. Deutsche Bank Aktiengesellschaft boosted their price objective on Apple from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Finally, Raymond James lowered their price target on Apple from $185.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, February 3rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $174.74.

Apple Trading Up 0.7 %

NASDAQ AAPL opened at $172.99 on Friday. The company has a market cap of $2.72 trillion, a PE ratio of 29.37, a PEG ratio of 2.29 and a beta of 1.29. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.56. Apple Inc. has a 12 month low of $124.17 and a 12 month high of $176.39. The stock has a 50 day moving average of $166.42 and a 200-day moving average of $151.40.

Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The iPhone maker reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.08. Apple had a return on equity of 165.72% and a net margin of 24.49%. The business had revenue of $94.84 billion for the quarter, compared to analysts’ expectations of $92.84 billion. During the same quarter in the prior year, the business earned $1.52 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, equities research analysts anticipate that Apple Inc. will post 5.99 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Monday, May 15th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Friday, May 12th. This is a boost from Apple’s previous quarterly dividend of $0.23. Apple’s dividend payout ratio is 16.30%.

Apple announced that its board has authorized a stock repurchase plan on Thursday, May 4th that allows the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to purchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Apple

In other Apple news, CEO Timothy D. Cook sold 56,072 shares of the stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $165.17, for a total transaction of $9,261,412.24. Following the transaction, the chief executive officer now owns 3,280,052 shares in the company, valued at approximately $541,766,188.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Timothy D. Cook sold 56,072 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $165.17, for a total value of $9,261,412.24. Following the transaction, the chief executive officer now owns 3,280,052 shares in the company, valued at $541,766,188.84. 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 43,622 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $165.41, for a total value of $7,215,515.02. Following the completion of the transaction, the senior vice president now owns 136,444 shares in the company, valued at approximately $22,569,202.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 439,529 shares of company stock worth $71,703,657. Company insiders own 0.06% of the company’s stock.

Apple Profile

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Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.