Unique Wealth Strategies LLC Purchases New Shares in Apple Inc. (NASDAQ:AAPL)

Unique Wealth Strategies LLC acquired a new stake in Apple Inc. (NASDAQ:AAPLFree Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 9,337 shares of the iPhone maker’s stock, valued at approximately $1,798,000. Apple comprises approximately 1.2% of Unique Wealth Strategies LLC’s investment portfolio, making the stock its 20th biggest holding.

A number of other institutional investors and hedge funds also recently bought and sold shares of AAPL. Wyrmwood Management LLC lifted its holdings in Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after buying an additional 69 shares in the last quarter. Gilfoyle & Co LLC lifted 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 acquiring an additional 118 shares during the period. PayPay Securities Corp boosted its holdings in Apple by 70.2% in the third 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. increased its position in Apple by 27.7% in the third quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock worth $110,000 after purchasing an additional 140 shares during the period. Finally, Friedenthal Financial bought a new stake in Apple during the 4th quarter worth about $111,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Buying and Selling at Apple

In related news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Chris Kondo sold 4,999 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction of $951,809.60. Following the completion of the sale, the insider now owns 29,278 shares of the company’s stock, valued at approximately $5,574,531.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 99,183 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the transaction, 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 a total of 271,270 shares of company stock valued at $46,511,696 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Up 0.5 %

AAPL opened at $191.29 on Friday. The stock’s fifty day simple moving average is $177.13 and its 200 day simple moving average is $183.23. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $199.62. The stock has a market cap of $2.93 trillion, a PE ratio of 29.75, a price-to-earnings-growth ratio of 2.32 and a beta of 1.26. 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:AAPLGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. The company had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. The company’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.52 earnings per share. As a group, research analysts expect that Apple Inc. will post 6.57 earnings per share for the current year.

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

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were issued 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 yield of 0.52%. The ex-dividend date was Friday, May 10th. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AAPL shares. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $196.00 target price (up previously from $189.00) on shares of Apple in a research note on Friday, May 3rd. Itau BBA Securities raised shares of Apple from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $162.00 to $188.00 in a research note on Friday, May 3rd. Sanford C. Bernstein upgraded shares of Apple from a “market perform” rating to an “outperform” rating and set a $195.00 target price for the company in a research report on Monday, April 29th. Wedbush raised their price target on Apple from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Friday, May 24th. Finally, JPMorgan Chase & Co. upped their price objective on Apple from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.59.

View Our Latest Analysis on Apple

About Apple

(Free Report)

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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