Apple Inc. (NASDAQ:AAPL) is Inlet Private Wealth LLC’s Largest Position

Inlet Private Wealth LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,709 shares of the iPhone maker’s stock after selling 2,072 shares during the quarter. Apple makes up about 5.3% of Inlet Private Wealth LLC’s holdings, making the stock its largest position. Inlet Private Wealth LLC’s holdings in Apple were worth $17,272,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Conservest Capital Advisors Inc. grew its position in Apple by 0.3% during the third quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock worth $2,877,000 after buying an additional 55 shares during the period. High Pines Wealth Management LLC grew its holdings in shares of Apple by 0.7% in the 4th quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock worth $1,638,000 after acquiring an additional 58 shares during the period. Kraft Davis & Associates LLC increased its stake in Apple by 0.9% in the 3rd quarter. Kraft Davis & Associates LLC now owns 6,716 shares of the iPhone maker’s stock valued at $1,155,000 after purchasing an additional 59 shares in the last quarter. Asset Planning Corporation raised its holdings 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 last quarter. Finally, Columbus Macro LLC boosted its position in Apple by 0.5% during the fourth quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock worth $2,120,000 after purchasing an additional 59 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Performance

NASDAQ:AAPL opened at $183.38 on Friday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $199.62. The firm has a market capitalization of $2.83 trillion, a price-to-earnings ratio of 28.56, a PEG ratio of 2.05 and a beta of 1.26. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28. The firm’s fifty day simple moving average is $172.15 and its 200 day simple moving average is $181.57.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. Apple had a return on equity of 156.04% and a net margin of 26.16%. The company had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. During the same quarter in the previous year, the firm posted $1.52 earnings per share. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, equities research analysts expect that Apple Inc. will post 6.53 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 13th will be given a $0.25 dividend. This is an increase from Apple’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.00 annualized dividend and a yield of 0.55%. Apple’s dividend payout ratio (DPR) is 14.95%.

Apple announced that its board has authorized a share repurchase program on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in shares. This buyback authorization authorizes the iPhone maker to buy up to 3.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

AAPL has been the subject of a number of research analyst reports. Itau BBA Securities upgraded Apple from an “underperform” rating to a “market perform” rating and raised their price target for the company from $162.00 to $188.00 in a research report on Friday. Bank of America lifted their target price on shares of Apple from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday. Rosenblatt Securities reissued a “neutral” rating and set a $196.00 price objective (up from $189.00) on shares of Apple in a research note on Friday. Maxim Group started coverage on Apple in a research report on Wednesday, April 17th. They set a “hold” rating and a $178.00 price objective for the company. Finally, Wedbush reiterated an “outperform” rating and set a $250.00 target price on shares of Apple in a report on Friday. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $203.72.

Insider Activity

In other news, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the transaction, the director now directly owns 4,434,576 shares in the company, valued at $802,392,181.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the transaction, the director now owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the sale, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The disclosure for this sale can be found here. Insiders have sold 366,271 shares of company stock worth $63,653,887 over the last 90 days. Company insiders own 0.06% of the company’s stock.

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.