Alpha Omega Wealth Management LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,994 shares of the iPhone maker’s stock after selling 3,100 shares during the period. Apple comprises approximately 2.1% of Alpha Omega Wealth Management LLC’s investment portfolio, making the stock its 5th biggest position. Alpha Omega Wealth Management LLC’s holdings in Apple were worth $12,083,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of AAPL. Robinson Value Management Ltd. bought a new position in shares of Apple during the 3rd quarter worth about $28,000. Hanseatic Management Services Inc. lifted its position in shares of Apple by 75.4% during the 3rd quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock worth $34,000 after buying an additional 107 shares in the last quarter. HBC Financial Services PLLC increased its stake in shares of Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares during the last quarter. Align Wealth Management LLC purchased a new stake in shares of Apple during the 4th quarter worth approximately $55,000. Finally, CFS Investment Advisory Services LLC grew its stake in Apple by 14,693.8% in the 3rd quarter. CFS Investment Advisory Services LLC now owns 6,024,330 shares of the iPhone maker’s stock valued at $65,000 after buying an additional 5,983,608 shares in the last quarter. 57.60% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have commented on AAPL shares. Evercore ISI reissued an “outperform” rating and issued a $190.00 price target on shares of Apple in a report on Monday, February 6th. Atlantic Securities boosted their price target on shares of Apple from $180.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, May 5th. Fundamental Research restated a “buy” rating and issued a $168.00 price objective on shares of Apple in a research report on Tuesday, February 14th. Sanford C. Bernstein set a $125.00 price target on shares of Apple in a research note on Tuesday, January 24th. Finally, Rosenblatt Securities raised their target price on shares of Apple from $173.00 to $198.00 and gave the company a “buy” rating in a research note on Friday, May 5th. 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.29.
Apple Stock Performance
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The iPhone maker reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. Apple had a net margin of 24.49% and a return on equity of 165.72%. The business had revenue of $94.84 billion during the quarter, compared to analysts’ expectations of $92.84 billion. During the same period last year, the company posted $1.52 EPS. The business’s revenue was down 2.5% on a year-over-year basis. As a group, analysts anticipate that Apple Inc. will post 6 EPS for the current fiscal year.
Apple Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 18th. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Friday, May 12th. Apple’s dividend payout ratio (DPR) is presently 15.62%.
Apple announced that its board has initiated a stock repurchase plan on Thursday, May 4th that authorizes the company to repurchase $90.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
Insiders Place Their Bets
In related news, CEO Timothy D. Cook sold 56,072 shares of Apple stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $165.17, for a total transaction of $9,261,412.24. Following the completion of the transaction, the chief executive officer now directly owns 3,280,052 shares of the company’s stock, valued at approximately $541,766,188.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Timothy D. Cook sold 56,072 shares of Apple stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $165.17, for a total transaction of $9,261,412.24. Following the completion of the transaction, the chief executive officer now directly owns 3,280,052 shares of the company’s stock, valued at approximately $541,766,188.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 4,092 shares of Apple stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $173.26, for a total transaction of $708,979.92. Following the transaction, the insider now directly owns 33,946 shares of the company’s stock, valued at $5,881,483.96. The disclosure for this sale can be found here. Insiders sold 439,529 shares of company stock valued at $71,703,657 in the last three months. Corporate insiders own 0.06% of the company’s stock.
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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