Prevail Innovative Wealth Advisors LLC Has $1.35 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Prevail Innovative Wealth Advisors LLC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 42.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,994 shares of the iPhone maker’s stock after selling 5,206 shares during the period. Prevail Innovative Wealth Advisors LLC’s holdings in Apple were worth $1,347,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Wyrmwood Management LLC grew its stake in 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 purchasing an additional 69 shares during the period. Gilfoyle & Co LLC grew its stake in Apple by 118.0% in 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 grew its stake 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 period. Cordant Inc. grew its stake in Apple by 27.7% in the third 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 acquired a new stake in Apple in the fourth quarter valued at approximately $111,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Activity

In other news, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction on Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the transaction, the chief executive officer now directly owns 3,377,407 shares in the company, valued at $574,260,512.21. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Chris Kondo sold 4,999 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total transaction of $951,809.60. Following the completion of the transaction, the insider now directly owns 29,278 shares in the company, valued at $5,574,531.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 99,183 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total value 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. Over the last three months, insiders sold 346,270 shares of company stock worth $60,880,196. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

Shares of AAPL opened at $193.12 on Tuesday. The firm has a market cap of $2.96 trillion, a PE ratio of 30.03, a PEG ratio of 2.40 and a beta of 1.25. The stock’s fifty day moving average price is $180.37 and its two-hundred day moving average price is $183.39. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $199.62.

Apple (NASDAQ:AAPLGet Free Report) last issued its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. The firm had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The business’s revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 earnings per share. On average, equities research analysts forecast that Apple Inc. will post 6.57 EPS for the current year.

Apple declared that its board has approved a stock buyback program on Thursday, May 2nd that allows the company to buyback $110.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 10th. 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 0.52%. Apple’s payout ratio is 15.55%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AAPL. Wedbush raised their price objective on Apple from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday, May 24th. Rosenblatt Securities reissued a “neutral” rating and issued a $196.00 price objective (up previously from $189.00) on shares of Apple in a research note on Friday, May 3rd. Sanford C. Bernstein raised Apple from a “market perform” rating to an “outperform” rating and set a $195.00 price objective for the company in a research note on Monday, April 29th. Citigroup cut their target price on Apple from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Finally, Canaccord Genuity Group lifted their target price on Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.59.

Read Our Latest Stock Analysis on AAPL

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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