Apple Inc. (NASDAQ:AAPL) is Penobscot Wealth Management’s 5th Largest Position

Penobscot Wealth Management reduced its holdings in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,204 shares of the iPhone maker’s stock after selling 497 shares during the quarter. Apple makes up 3.1% of Penobscot Wealth Management’s investment portfolio, making the stock its 5th largest position. Penobscot Wealth Management’s holdings in Apple were worth $4,660,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wyrmwood Management LLC boosted its stake in shares of Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 69 shares during the last quarter. Gilfoyle & Co LLC boosted its stake in shares of Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares during the last quarter. PayPay Securities Corp boosted its stake in shares of Apple by 70.2% during the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after purchasing an additional 210 shares during the last quarter. Cordant Inc. boosted its stake in shares of Apple by 27.7% during the 3rd quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock worth $110,000 after purchasing an additional 140 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of Apple during the 4th quarter worth about $111,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the transaction, the senior vice president now owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Apple news, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total value of $951,809.60. Following the completion of the transaction, the insider now owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction on 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 completion of the transaction, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The disclosure for this sale can be found here. Insiders sold a total of 371,270 shares of company stock valued at $64,605,696 over the last 90 days. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

AAPL has been the topic of several analyst reports. Bank of America raised their price target on shares of Apple from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Sanford C. Bernstein raised shares of Apple from a “market perform” rating to an “outperform” rating and set a $195.00 target price on the stock in a research report on Monday, April 29th. Rosenblatt Securities reissued a “neutral” rating and issued a $196.00 target price (up from $189.00) on shares of Apple in a research report on Friday, May 3rd. Wedbush raised their target price on shares of Apple from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, UBS Group reissued a “hold” rating and issued a $190.00 target price on shares of Apple in a research report on Monday, March 25th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.44.

Read Our Latest Research Report on AAPL

Apple Stock Up 1.7 %

Shares of NASDAQ:AAPL opened at $189.98 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The company has a fifty day simple moving average of $176.22 and a 200 day simple moving average of $183.10. The firm has a market cap of $2.91 trillion, a PE ratio of 29.55, a price-to-earnings-growth ratio of 2.32 and a beta of 1.26. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $199.62.

Apple (NASDAQ:AAPLGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The business had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. The business’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.52 earnings per share. On average, equities research analysts anticipate that Apple Inc. will post 6.57 EPS for the current fiscal year.

Apple declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 2nd that permits the company to buyback $110.00 billion in shares. This buyback authorization permits the iPhone maker to buy up to 3.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Friday, May 10th. This is an increase from Apple’s previous quarterly dividend of $0.24. Apple’s payout ratio is currently 15.55%.

About Apple

(Free Report)

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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