Smallwood Wealth Investment Management LLC Purchases 543 Shares of Apple Inc. (NASDAQ:AAPL)

Smallwood Wealth Investment Management LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 1.3% during the fourth quarter, Holdings Channel reports. The firm owned 42,687 shares of the iPhone maker’s stock after purchasing an additional 543 shares during the period. Apple comprises 6.8% of Smallwood Wealth Investment Management LLC’s portfolio, making the stock its 2nd largest holding. Smallwood Wealth Investment Management LLC’s holdings in Apple were worth $8,219,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Conservest Capital Advisors Inc. grew its position in Apple by 0.3% during the third quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock valued at $2,877,000 after buying an additional 55 shares during the period. High Pines Wealth Management LLC grew its position in Apple by 0.7% during the fourth quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock valued at $1,638,000 after buying an additional 58 shares during the period. Kraft Davis & Associates LLC grew its position in Apple by 0.9% during the third quarter. Kraft Davis & Associates LLC now owns 6,716 shares of the iPhone maker’s stock valued at $1,155,000 after buying an additional 59 shares during the period. Asset Planning Corporation grew its position in Apple by 1.0% during the fourth quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock valued at $1,181,000 after buying an additional 59 shares during the period. Finally, Columbus Macro LLC grew its position in Apple by 0.5% during the fourth quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock valued at $2,120,000 after buying an additional 59 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Up 0.5 %

Shares of NASDAQ:AAPL opened at $169.89 on Friday. Apple Inc. has a 1 year low of $162.80 and a 1 year high of $199.62. The company has a market cap of $2.62 trillion, a PE ratio of 26.46, a P/E/G ratio of 2.01 and a beta of 1.27. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02. The stock’s 50-day moving average is $173.30 and its 200 day moving average is $181.85.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.09. Apple had a return on equity of 156.04% and a net margin of 26.16%. The company had revenue of $119.60 billion for the quarter, compared to the consensus estimate of $117.99 billion. During the same quarter in the previous year, the business earned $1.88 EPS. Apple’s revenue was up 2.1% compared to the same quarter last year. Sell-side analysts anticipate that Apple Inc. will post 6.54 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.57%. Apple’s dividend payout ratio (DPR) is 14.95%.

Insiders Place Their Bets

In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the transaction, the director now owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the company’s 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 transaction, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arthur D. Levinson sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the sale, the director now directly owns 4,434,576 shares in the company, valued at $802,392,181.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 366,271 shares of company stock worth $63,653,887. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AAPL shares. Needham & Company LLC restated a “buy” rating and set a $220.00 price target on shares of Apple in a research report on Tuesday, April 16th. The Goldman Sachs Group boosted their price target on shares of Apple from $223.00 to $232.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Maxim Group began coverage on shares of Apple in a research note on Wednesday, April 17th. They set a “hold” rating and a $178.00 price target on the stock. DA Davidson began coverage on shares of Apple in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $166.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped their target price on Apple from $215.00 to $210.00 and set an “overweight” rating on the stock in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $203.05.

About Apple

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.