5T Wealth LLC Takes $1.69 Million Position in Apple Inc. (NASDAQ:AAPL)

5T Wealth LLC purchased a new position in Apple Inc. (NASDAQ:AAPL) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 6,753 shares of the iPhone maker’s stock, valued at approximately $1,691,000.

Other hedge funds have also recently bought and sold shares of the company. Meredith Wealth Planning increased its holdings in Apple by 9.6% during the 4th quarter. Meredith Wealth Planning now owns 10,069 shares of the iPhone maker’s stock valued at $2,521,000 after acquiring an additional 886 shares in the last quarter. Catalyst Capital Advisors LLC grew its position in shares of Apple by 10.6% in the fourth quarter. Catalyst Capital Advisors LLC now owns 22,261 shares of the iPhone maker’s stock valued at $5,575,000 after purchasing an additional 2,131 shares during the last quarter. Retirement Income Solutions Inc raised its position in shares of Apple by 4.6% during the 4th quarter. Retirement Income Solutions Inc now owns 21,444 shares of the iPhone maker’s stock worth $5,370,000 after purchasing an additional 941 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in Apple by 4.0% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 5,575,218 shares of the iPhone maker’s stock worth $1,396,146,000 after buying an additional 213,180 shares in the last quarter. Finally, Americana Partners LLC increased its position in Apple by 114.4% during the 4th quarter. Americana Partners LLC now owns 398,824 shares of the iPhone maker’s stock worth $99,873,000 after purchasing an additional 212,762 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Up 2.4 %

Shares of Apple stock opened at $204.57 on Thursday. Apple Inc. has a 1-year low of $166.21 and a 1-year high of $260.10. The company has a market capitalization of $3.07 trillion, a PE ratio of 32.47, a P/E/G ratio of 2.44 and a beta of 1.26. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The business has a 50-day moving average of $217.14 and a 200-day moving average of $229.52.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. As a group, equities analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.49%. Apple’s dividend payout ratio (DPR) is 15.87%.

Insider Transactions at Apple

In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the sale, the chief operating officer now owns 390,059 shares in the company, valued at $87,377,116.59. The trade was a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Katherine L. Adams sold 38,822 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the sale, the senior vice president now directly owns 179,158 shares in the company, valued at $40,072,269.86. This trade represents a 17.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 182,451 shares of company stock valued at $40,818,720. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of Apple from $259.00 to $256.00 and set a “buy” rating on the stock in a research note on Wednesday. Loop Capital lowered shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 target price on the stock. in a research report on Tuesday, January 21st. Sanford C. Bernstein boosted their price target on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Citigroup decreased their price objective on Apple from $275.00 to $245.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $225.00 target price on shares of Apple in a research note on Monday, April 14th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average target price of $234.17.

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.