Cahill Wealth Management LLC Purchases 89 Shares of Apple Inc. (NASDAQ:AAPL)

Cahill Wealth Management LLC raised its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,712 shares of the iPhone maker’s stock after buying an additional 89 shares during the period. Apple comprises 2.4% of Cahill Wealth Management LLC’s portfolio, making the stock its 8th biggest position. Cahill Wealth Management LLC’s holdings in Apple were worth $3,602,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AAPL. International Assets Investment Management LLC raised its position in Apple by 14,395.4% in the 4th quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock valued at $136,119,470,000 after purchasing an additional 70,212,651 shares during the last quarter. Cerity Partners LLC increased its stake in shares of Apple by 130.1% in the fourth quarter. Cerity Partners LLC now owns 9,430,190 shares of the iPhone maker’s stock valued at $1,815,594,000 after buying an additional 5,331,439 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Apple in the fourth quarter valued at about $560,388,000. Hudson Bay Capital Management LP acquired a new position in Apple during the 3rd quarter worth about $487,435,000. Finally, Barclays PLC grew its holdings in Apple by 6.0% during the 3rd quarter. Barclays PLC now owns 49,759,061 shares of the iPhone maker’s stock worth $8,519,244,000 after acquiring an additional 2,826,709 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AAPL shares. JPMorgan Chase & Co. boosted their target price on shares of Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Itau BBA Securities upgraded shares of Apple from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $162.00 to $188.00 in a research report on Friday, May 3rd. Morgan Stanley upped their price objective on Apple from $210.00 to $216.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Sanford C. Bernstein raised Apple from a “market perform” rating to an “outperform” rating and set a $195.00 target price for the company in a research note on Monday, April 29th. Finally, Canaccord Genuity Group boosted their target price on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Saturday, May 4th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $204.11.

Apple Stock Up 1.0 %

Apple stock opened at $184.57 on Friday. The company has a 50 day moving average of $172.20 and a 200-day moving average of $181.79. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $199.62. The stock has a market capitalization of $2.85 trillion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 2.21 and a beta of 1.26.

Apple (NASDAQ:AAPL) last released its quarterly 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 the consensus estimate of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the business posted $1.52 EPS. On average, equities research analysts anticipate that Apple Inc. will post 6.54 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 13th will be paid a $0.25 dividend. This is a boost 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 0.54%. Apple’s payout ratio is presently 15.55%.

Apple announced that its board has initiated 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 reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, COO Jeffrey E. Williams sold 59,162 shares of Apple stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $172.22, for a total value of $10,188,879.64. Following the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at $84,378,155.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Jeffrey E. Williams sold 59,162 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the sale, the chief operating officer now owns 489,944 shares in the company, valued at approximately $84,378,155.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $9,244,782.12. Following the transaction, the senior vice president now owns 136,572 shares in the company, valued at $23,068,376.52. The disclosure for this sale can be found here. Insiders sold a total of 366,271 shares of company stock valued at $63,653,887 in the last quarter. 0.06% of the stock is currently owned by insiders.

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.