Palumbo Wealth Management LLC Buys 967 Shares of Apple Inc. (NASDAQ:AAPL)

Palumbo Wealth Management LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,126 shares of the iPhone maker’s stock after purchasing an additional 967 shares during the quarter. Apple accounts for 4.2% of Palumbo Wealth Management LLC’s holdings, making the stock its 4th largest holding. Palumbo Wealth Management LLC’s holdings in Apple were worth $11,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Drystone LLC acquired a new stake in Apple in the fourth quarter valued at $25,000. Bull Oak Capital LLC increased its holdings in shares of Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares during the last quarter. Life Planning Partners Inc acquired a new stake in shares of Apple during the 4th quarter worth about $47,000. SPX Gestao de Recursos Ltda acquired a new stake in Apple during the third quarter worth approximately $71,000. Finally, Teachers Insurance & Annuity Association of America acquired a new position in shares of Apple in the 3rd quarter valued at $77,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Activity

In other Apple news, CEO Timothy D. Cook sold 108,136 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the transaction, the chief executive officer now owns 3,280,295 shares of the company’s stock, valued at $733,637,976.75. This trade represents a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the transaction, the chief operating officer now owns 390,059 shares of the company’s stock, valued at approximately $87,377,116.59. The trade was a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 182,451 shares of company stock valued at $40,818,720. Company insiders own 0.06% of the company’s stock.

Apple Trading Up 1.3 %

Shares of NASDAQ AAPL opened at $196.79 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The stock’s 50 day moving average price is $219.65 and its two-hundred day moving average price is $230.13. Apple Inc. has a 52-week low of $164.77 and a 52-week high of $260.10. The stock has a market capitalization of $2.96 trillion, a P/E ratio of 31.24, a PEG ratio of 2.44 and a beta of 1.26.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.51%. Apple’s payout ratio is currently 15.87%.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of research reports. Wedbush reduced their price target on shares of Apple from $325.00 to $250.00 and set an “outperform” rating for the company in a research report on Monday, April 7th. Sanford C. Bernstein raised their price target on Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. UBS Group increased their price objective on Apple to $236.00 and gave the company a “buy” rating in a report on Monday, April 14th. Argus raised shares of Apple to a “strong-buy” rating in a report on Friday, January 31st. Finally, Oppenheimer cut shares of Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $235.85.

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.