Apple Inc. (NASDAQ:AAPL) Shares Bought by Wrapmanager Inc.

Wrapmanager Inc. grew its stake in Apple Inc. (NASDAQ:AAPL) by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,402 shares of the iPhone maker’s stock after acquiring an additional 1,592 shares during the quarter. Apple accounts for 3.5% of Wrapmanager Inc.’s holdings, making the stock its 4th biggest position. Wrapmanager Inc.’s holdings in Apple were worth $13,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Drystone LLC bought a new stake in Apple during the 4th quarter worth approximately $25,000. Life Planning Partners Inc acquired a new position in shares of Apple in the fourth quarter valued at approximately $47,000. SPX Gestao de Recursos Ltda acquired a new position in shares of Apple in the third quarter valued at approximately $71,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Apple during the third quarter worth $77,000. Finally, Compass Planning Associates Inc acquired a new stake in shares of Apple during the fourth quarter worth $96,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AAPL shares. KeyCorp upgraded Apple from an “underweight” rating to a “sector weight” rating in a report on Monday, April 14th. UBS Group decreased their price objective on Apple from $236.00 to $210.00 and set a “neutral” rating for the company in a report on Wednesday, April 23rd. Loop Capital cut their target price on Apple from $230.00 to $215.00 and set a “hold” rating on the stock in a research note on Wednesday. Jefferies Financial Group reaffirmed an “underperform” rating and set a $170.62 price target (up from $167.88) on shares of Apple in a research note on Friday. Finally, DA Davidson boosted their price objective on shares of Apple from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $235.17.

Apple Stock Down 3.7 %

AAPL stock opened at $205.35 on Friday. The business’s fifty day moving average price is $212.15 and its two-hundred day moving average price is $228.61. The stock has a market capitalization of $3.08 trillion, a price-to-earnings ratio of 32.60, a PEG ratio of 2.44 and a beta of 1.26. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 160.83%. The business had revenue of $95.36 billion during the quarter, compared to analysts’ expectations of $94.04 billion. During the same quarter in the previous year, the company earned $1.53 EPS. The business’s revenue was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 12th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. This is an increase from Apple’s previous quarterly dividend of $0.25. Apple’s dividend payout ratio is currently 15.87%.

Apple declared that its Board of Directors has approved a stock buyback program on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was 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 directly owns 390,059 shares in the company, valued at $87,377,116.59. This represents 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 the SEC website. Also, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the transaction, the senior vice president now owns 179,158 shares in the company, valued at approximately $40,072,269.86. The trade was a 17.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 187,021 shares of company stock worth $41,760,140 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Apple Company 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.