Mine & Arao Wealth Creation & Management LLC. Sells 896 Shares of Apple Inc. (NASDAQ:AAPL)

Mine & Arao Wealth Creation & Management LLC. cut its position in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,413 shares of the iPhone maker’s stock after selling 896 shares during the quarter. Apple comprises 9.4% of Mine & Arao Wealth Creation & Management LLC.’s portfolio, making the stock its 4th biggest position. Mine & Arao Wealth Creation & Management LLC.’s holdings in Apple were worth $17,407,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AAPL. Wyrmwood Management LLC boosted its position in shares of 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 buying an additional 69 shares during the period. Gilfoyle & Co LLC lifted its position in 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 acquiring an additional 118 shares in the last quarter. PayPay Securities Corp boosted its holdings in Apple by 70.2% in the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after acquiring an additional 210 shares during the period. Friedenthal Financial acquired a new stake in Apple in the fourth quarter valued at approximately $111,000. Finally, Cordant Inc. raised its stake in shares of Apple by 27.7% during the third quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock valued at $110,000 after purchasing an additional 140 shares during the period. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Trading Up 0.9 %

Apple stock opened at $194.03 on Tuesday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $199.62. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $2.98 trillion, a price-to-earnings ratio of 30.18, a PEG ratio of 2.34 and a beta of 1.25. The firm has a 50-day moving average price of $177.99 and a two-hundred day moving average price of $183.25.

Apple (NASDAQ:AAPLGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The business had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. During the same period in the previous year, the firm posted $1.52 earnings per share. The business’s revenue was down 4.3% on a year-over-year basis. Sell-side analysts expect that Apple Inc. will post 6.57 earnings per share for the current year.

Apple declared that its board has initiated a share repurchase program on Thursday, May 2nd that permits the company to buyback $110.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were paid a $0.25 dividend. This is a boost from Apple’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.52%. Apple’s dividend payout ratio is presently 15.55%.

Insider Activity

In related news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were 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 of the company’s stock, valued at $574,260,512.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the transaction, the director now directly owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 99,183 shares of the business’s stock in a transaction 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 directly owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 346,270 shares of company stock valued at $60,880,196. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AAPL. Rosenblatt Securities restated a “neutral” rating and issued a $196.00 target price (up from $189.00) on shares of Apple in a research note on Friday, May 3rd. Needham & Company LLC reissued a “buy” rating and issued a $220.00 price objective on shares of Apple in a research report on Friday, May 3rd. Maxim Group assumed coverage on Apple in a research note on Wednesday, April 17th. They set a “hold” rating and a $178.00 target price for the company. Barclays boosted their price target on Apple from $158.00 to $164.00 and gave the stock an “underweight” rating in a research note on Friday, May 3rd. Finally, Sanford C. Bernstein upgraded Apple from a “market perform” rating to an “outperform” rating and set a $195.00 price objective for the company in a research note on Monday, April 29th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $205.59.

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About Apple

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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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