Perigon Wealth Management LLC Has $249.79 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Perigon Wealth Management LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 33.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,297,411 shares of the iPhone maker’s stock after acquiring an additional 322,743 shares during the period. Apple accounts for about 8.2% of Perigon Wealth Management LLC’s portfolio, making the stock its largest position. Perigon Wealth Management LLC’s holdings in Apple were worth $249,791,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of AAPL. Wyrmwood Management LLC boosted its holdings in Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after acquiring an additional 69 shares in the last quarter. Gilfoyle & Co LLC boosted its holdings in Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after acquiring an additional 118 shares in the last quarter. PayPay Securities Corp boosted its holdings in Apple by 70.2% in the third quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after acquiring an additional 210 shares in the last quarter. Cordant Inc. boosted its holdings in Apple by 27.7% in the third quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock worth $110,000 after acquiring an additional 140 shares in the last quarter. Finally, Life Planning Partners Inc bought a new position in Apple in the fourth quarter worth approximately $132,000. 60.41% of the stock is owned by institutional investors.

Apple Price Performance

NASDAQ:AAPL opened at $182.74 on Thursday. The firm has a market capitalization of $2.82 trillion, a price-to-earnings ratio of 28.42, a P/E/G ratio of 2.21 and a beta of 1.26. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $199.62. The stock has a fifty day moving average of $172.17 and a 200 day moving average of $181.78. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data 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 company had revenue of $90.75 billion during 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 firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the company earned $1.52 earnings per share. On average, research analysts expect that Apple Inc. will post 6.54 EPS for the current fiscal year.

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

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 13th will be issued a $0.25 dividend. This is a boost from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Friday, May 10th. Apple’s dividend payout ratio is presently 15.55%.

Insider Activity

In related news, CEO Timothy D. Cook sold 99,183 shares of the business’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 value of $16,864,085.49. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this link. In other Apple news, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the transaction, the director now directly owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 99,183 shares of Apple 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 directly owns 3,377,407 shares in the company, valued at $574,260,512.21. The disclosure for this sale can be found here. In the last three months, insiders have sold 366,271 shares of company stock worth $63,653,887. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of recent research reports. Maxim Group initiated coverage on Apple in a report on Wednesday, April 17th. They issued a “hold” rating and a $178.00 target price on the stock. Barclays raised their target price on Apple from $158.00 to $164.00 and gave the company an “underweight” rating in a report on Friday, May 3rd. Rosenblatt Securities restated a “neutral” rating and issued a $196.00 target price (up previously from $189.00) on shares of Apple in a report on Friday, May 3rd. Bank of America raised their target price on Apple from $225.00 to $230.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, Citigroup dropped their target price on Apple from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.11.

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.