Apple Inc. (NASDAQ:AAPL) is Segment Wealth Management LLC’s 5th Largest Position

Segment Wealth Management LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 145,051 shares of the iPhone maker’s stock after selling 4,474 shares during the quarter. Apple accounts for approximately 2.5% of Segment Wealth Management LLC’s portfolio, making the stock its 5th biggest position. Segment Wealth Management LLC’s holdings in Apple were worth $27,927,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Conservest Capital Advisors Inc. lifted its holdings in shares of Apple by 0.3% in the 3rd quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock valued at $2,877,000 after purchasing an additional 55 shares during the last quarter. High Pines Wealth Management LLC increased its position in Apple by 0.7% during the fourth quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock worth $1,638,000 after buying an additional 58 shares during the period. Asset Planning Corporation increased its position 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 buying an additional 59 shares during the period. Columbus Macro LLC boosted its holdings in shares of Apple by 0.5% in the fourth quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock valued at $2,120,000 after acquiring an additional 59 shares during the period. Finally, Family CFO Inc boosted its holdings in shares of Apple by 6.7% in the third quarter. Family CFO Inc now owns 950 shares of the iPhone maker’s stock valued at $163,000 after acquiring an additional 60 shares during the period. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In related news, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the transaction, the director now owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $18,768,046.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Arthur D. Levinson sold 100,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was 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 $802,392,181.44. The disclosure for this sale can be found here. Insiders sold a total of 366,271 shares of company stock worth $63,653,887 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AAPL has been the subject of several research reports. Loop Capital reduced their price target on shares of Apple from $185.00 to $170.00 and set a “hold” rating for the company in a research report on Monday, April 1st. Monness Crespi & Hardt upped their target price on shares of Apple from $200.00 to $205.00 and gave the company a “buy” rating in a report on Friday. Redburn Partners downgraded shares of Apple to a “neutral” rating and set a $200.00 target price for the company. in a research note on Wednesday, January 10th. UBS Group restated a “hold” rating and issued a $190.00 price target on shares of Apple in a research report on Monday, March 25th. Finally, Wedbush reaffirmed an “outperform” rating and set a $250.00 price objective on shares of Apple in a research report on Friday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $204.00.

Apple Price Performance

AAPL stock opened at $183.38 on Friday. The stock’s 50 day moving average price is $172.17 and its 200 day moving average price is $181.60. The firm has a market cap of $2.83 trillion, a P/E ratio of 28.52, a PEG ratio of 2.09 and a beta of 1.26. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $199.62.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $90.75 billion during the quarter, compared to analysts’ expectations of $90.37 billion. Apple had a return on equity of 153.25% and a net margin of 26.31%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.52 earnings per share. On average, sell-side analysts expect that Apple Inc. will post 6.53 earnings per share for the current fiscal year.

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

Apple Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 13th will be paid a dividend of $0.25 per share. This is a boost from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Friday, May 10th. Apple’s dividend payout ratio (DPR) is currently 14.93%.

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.