Firethorn Wealth Partners LLC Buys 3,897 Shares of Apple Inc. (NASDAQ:AAPL)

Firethorn Wealth Partners LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 18.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,980 shares of the iPhone maker’s stock after buying an additional 3,897 shares during the quarter. Apple accounts for approximately 2.5% of Firethorn Wealth Partners LLC’s portfolio, making the stock its 7th largest holding. Firethorn Wealth Partners LLC’s holdings in Apple were worth $4,284,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Yeomans Consulting Group Inc. acquired a new position in Apple during the fourth quarter worth about $1,713,000. Raleigh Capital Management Inc. grew its position in shares of Apple by 11.8% in the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after purchasing an additional 1,643 shares during the last quarter. Headinvest LLC grew its position in shares of Apple by 1.7% in the third quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock valued at $9,236,000 after purchasing an additional 872 shares during the last quarter. GLOBALT Investments LLC GA acquired a new stake in shares of Apple in the fourth quarter valued at approximately $38,406,000. Finally, Barden Capital Management Inc. grew its position in shares of Apple by 132.8% in the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock valued at $6,283,000 after purchasing an additional 18,615 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Apple

In other Apple news, CFO Luca Maestri sold 53,194 shares of the firm’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $18,768,046.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Apple news, CFO Luca Maestri sold 53,194 shares of the firm’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $18,768,046.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,999 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total transaction of $951,809.60. Following the transaction, the insider now directly owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The disclosure for this sale can be found here. In the last three months, insiders sold 192,355 shares of company stock valued at $34,771,329. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL opened at $226.34 on Friday. The company has a fifty day simple moving average of $197.44 and a 200 day simple moving average of $186.24. The firm has a market cap of $3.47 trillion, a price-to-earnings ratio of 35.20, a PEG ratio of 2.69 and a beta of 1.24. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $226.45. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPLGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating 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% on a year-over-year basis. During the same period last year, the business earned $1.52 EPS. Equities research analysts expect that Apple Inc. will post 6.59 EPS for the current fiscal year.

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

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. This is a positive change from Apple’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, May 10th. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Analyst Upgrades and Downgrades

AAPL has been the topic of several research reports. Barclays reiterated an “underweight” rating and issued a $164.00 price target on shares of Apple in a research report on Tuesday, June 11th. Erste Group Bank upgraded shares of Apple from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. UBS Group reiterated a “neutral” rating and issued a $190.00 price target on shares of Apple in a research report on Monday, July 1st. Wedbush upped their price objective on shares of Apple from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday, May 24th. Finally, Citigroup reduced their price objective on shares of Apple from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $215.71.

View Our Latest Analysis on Apple

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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