Elevatus Welath Management Increases Position in Apple Inc. (NASDAQ:AAPL)

Elevatus Welath Management boosted its holdings in Apple Inc. (NASDAQ:AAPLFree Report) by 18.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,626 shares of the iPhone maker’s stock after acquiring an additional 10,126 shares during the quarter. Apple accounts for 5.6% of Elevatus Welath Management’s portfolio, making the stock its 3rd largest position. Elevatus Welath Management’s holdings in Apple were worth $12,250,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Wyrmwood Management LLC increased its position in Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after acquiring an additional 69 shares during the period. Gilfoyle & Co LLC increased its position in Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after acquiring an additional 118 shares during the period. PayPay Securities Corp increased its position in Apple by 70.2% in the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock valued at $87,000 after acquiring an additional 210 shares during the period. Friedenthal Financial acquired a new stake in Apple in the 4th quarter valued at approximately $111,000. Finally, Cordant Inc. increased its position in shares of Apple by 27.7% during the 3rd 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 institutional investors and hedge funds.

Apple Price Performance

AAPL opened at $196.89 on Monday. The stock has a market cap of $3.02 trillion, a price-to-earnings ratio of 30.62, a PEG ratio of 2.40 and a beta of 1.25. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $199.62. 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 stock has a fifty day moving average price of $179.90 and a 200 day moving average price of $183.38.

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

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were issued a dividend of $0.25 per share. This is a positive change from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Friday, May 10th. Apple’s dividend payout ratio (DPR) is 15.55%.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AAPL shares. Tigress Financial lifted their price target on Apple from $240.00 to $245.00 and gave the company a “strong-buy” rating in a research report on Thursday, May 30th. Needham & Company LLC reiterated a “buy” rating and set a $220.00 price target on shares of Apple in a research report on Friday, May 3rd. Barclays lifted their price target on Apple from $158.00 to $164.00 and gave the company an “underweight” rating in a research report on Friday, May 3rd. Monness Crespi & Hardt reiterated a “buy” rating and set a $205.00 price target on shares of Apple in a research report on Thursday. Finally, Loop Capital lowered their price target on Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.59.

Read Our Latest Stock Report on Apple

Insider Buying and Selling at Apple

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 4,359,576 shares in the company, valued at $835,207,570.08. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 4,359,576 shares in the company, valued at $835,207,570.08. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction dated 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 transaction, the chief executive officer now owns 3,377,407 shares in the company, valued at $574,260,512.21. The disclosure for this sale can be found here. Insiders have sold a total of 346,270 shares of company stock worth $60,880,196 over the last three months. Corporate insiders own 0.06% of the company’s stock.

Apple Company Profile

(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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