1900 Wealth Management LLC Lowers Stock Holdings in Apple Inc. (NASDAQ:AAPL)

1900 Wealth Management LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 7.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,330 shares of the iPhone maker’s stock after selling 3,128 shares during the quarter. Apple accounts for about 0.7% of 1900 Wealth Management LLC’s holdings, making the stock its 29th largest holding. 1900 Wealth Management LLC’s holdings in Apple were worth $7,380,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AAPL. Wyrmwood Management LLC raised its stake in shares of Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after acquiring an additional 69 shares in the last quarter. Gilfoyle & Co LLC grew its stake in shares of Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after buying an additional 118 shares during the last quarter. PayPay Securities Corp lifted its stake in shares of Apple by 70.2% in the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock valued at $87,000 after acquiring an additional 210 shares during the last quarter. Cordant Inc. boosted its holdings in Apple by 27.7% during the 3rd quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock valued at $110,000 after acquiring an additional 140 shares during the period. Finally, Friedenthal Financial purchased a new position in Apple in the 4th quarter worth approximately $111,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In related news, SVP Deirdre O’brien sold 54,732 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the sale, the senior vice president now directly owns 136,572 shares in the company, valued at $23,068,376.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the sale, the director now directly 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 available at this hyperlink. Also, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the transaction, the senior vice president now owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The disclosure for this sale can be found here. Insiders sold 371,270 shares of company stock valued at $64,605,696 in the last 90 days. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AAPL shares. Canaccord Genuity Group upped their price target on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 price objective on shares of Apple in a report on Friday, May 3rd. Rosenblatt Securities reissued a “neutral” rating and set a $196.00 target price (up from $189.00) on shares of Apple in a research note on Friday, May 3rd. UBS Group reaffirmed a “hold” rating and issued a $190.00 price target on shares of Apple in a research note on Monday, March 25th. Finally, Bank of America upped their price objective on shares of Apple from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.71.

Apple Price Performance

NASDAQ AAPL opened at $186.88 on Friday. The stock has a market cap of $2.87 trillion, a price-to-earnings ratio of 29.06, a PEG ratio of 2.34 and a beta of 1.26. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $199.62. The company’s 50 day moving average is $175.55 and its two-hundred day moving average is $182.96. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. Apple’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.52 EPS. As a group, research analysts anticipate that Apple Inc. will post 6.57 earnings per share for the current year.

Apple declared that its board has authorized a share buyback plan on Thursday, May 2nd that permits the company to buyback $110.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were paid a $0.25 dividend. The ex-dividend date was Friday, May 10th. This represents a $1.00 annualized dividend and a yield of 0.54%. This is a boost from Apple’s previous quarterly dividend of $0.24. Apple’s payout ratio is presently 15.55%.

Apple 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.