34,408 Shares in Apple Inc. (NASDAQ:AAPL) Purchased by Heirloom Wealth Management

Heirloom Wealth Management bought a new position in Apple Inc. (NASDAQ:AAPLGet Rating) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 34,408 shares of the iPhone maker’s stock, valued at approximately $4,471,000. Apple comprises 2.8% of Heirloom Wealth Management’s portfolio, making the stock its 14th biggest holding.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its stake in shares of Apple by 0.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 4,956,985 shares of the iPhone maker’s stock valued at $644,061,000 after buying an additional 18,624 shares during the period. Pinnacle Associates Ltd. increased its position in Apple by 2.2% during the 4th quarter. Pinnacle Associates Ltd. now owns 1,267,071 shares of the iPhone maker’s stock valued at $164,631,000 after purchasing an additional 27,495 shares during the period. Mainsail Financial Group LLC acquired a new stake in Apple during the 4th quarter valued at approximately $901,000. Sabal Trust CO increased its position in Apple by 40.0% during the 4th quarter. Sabal Trust CO now owns 58,040 shares of the iPhone maker’s stock valued at $7,541,000 after purchasing an additional 16,596 shares during the period. Finally, McNaughton Wealth Management LLC increased its position in Apple by 5.8% during the 4th quarter. McNaughton Wealth Management LLC now owns 6,115 shares of the iPhone maker’s stock valued at $795,000 after purchasing an additional 334 shares during the period. Institutional investors own 57.60% of the company’s stock.

Insider Activity at Apple

In other Apple news, SVP Deirdre O’brien sold 43,622 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $165.41, for a total transaction of $7,215,515.02. Following the completion of the sale, the senior vice president now directly owns 136,444 shares in the company, valued at $22,569,202.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Apple news, COO Jeffrey E. Williams sold 77,817 shares of the company’s stock in a transaction on Tuesday, April 4th. The stock was sold at an average price of $166.11, for a total transaction of $12,926,181.87. Following the completion of the sale, the chief operating officer now directly owns 489,816 shares in the company, valued at $81,363,335.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 43,622 shares of the stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $165.41, for a total value of $7,215,515.02. Following the completion of the transaction, the senior vice president now owns 136,444 shares of the company’s stock, valued at $22,569,202.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 435,437 shares of company stock worth $70,994,677. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on AAPL. Bank of America raised their price objective on shares of Apple from $173.00 to $176.00 and gave the stock a “neutral” rating in a research report on Friday. Atlantic Securities lifted their target price on Apple from $180.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday. The Goldman Sachs Group initiated coverage on Apple in a research report on Sunday, March 5th. They issued a “buy” rating and a $199.00 price objective for the company. Piper Sandler reduced their target price on Apple from $195.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Rosenblatt Securities upped their price target on Apple from $173.00 to $198.00 and gave the company a “buy” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $174.29.

Apple Price Performance

Apple stock opened at $173.50 on Tuesday. Apple Inc. has a 12 month low of $124.17 and a 12 month high of $176.15. The stock’s 50 day moving average is $160.61 and its 200-day moving average is $149.14. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $2.75 trillion, a price-to-earnings ratio of 29.46, a PEG ratio of 2.31 and a beta of 1.29.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings results on Thursday, May 4th. The iPhone maker reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.08. The business had revenue of $94.84 billion during the quarter, compared to analysts’ expectations of $92.84 billion. Apple had a return on equity of 170.97% and a net margin of 24.49%. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.52 earnings per share. Equities research analysts expect that Apple Inc. will post 6 EPS for the current year.

Apple declared that its Board of Directors has approved a share buyback plan on Thursday, May 4th that permits the company to repurchase $90.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 18th. Investors of record on Monday, May 15th will be paid a $0.24 dividend. This is a boost from Apple’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Friday, May 12th. Apple’s payout ratio is 15.62%.

Apple Company Profile

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Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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