Fairhaven Wealth Management LLC Has $19.83 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Fairhaven Wealth Management LLC grew its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,165 shares of the iPhone maker’s stock after buying an additional 244 shares during the quarter. Apple accounts for approximately 6.2% of Fairhaven Wealth Management LLC’s investment portfolio, making the stock its 4th biggest holding. Fairhaven Wealth Management LLC’s holdings in Apple were worth $19,825,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Wrapmanager Inc. boosted its position in Apple by 3.0% in the fourth quarter. Wrapmanager Inc. now owns 54,402 shares of the iPhone maker’s stock worth $13,624,000 after purchasing an additional 1,592 shares during the last quarter. Transcendent Capital Group LLC raised its stake in shares of Apple by 3.5% during the 4th quarter. Transcendent Capital Group LLC now owns 45,768 shares of the iPhone maker’s stock worth $11,461,000 after purchasing an additional 1,545 shares during the period. CWS Financial Advisors LLC boosted its holdings in shares of Apple by 0.3% in the 4th quarter. CWS Financial Advisors LLC now owns 65,436 shares of the iPhone maker’s stock worth $16,387,000 after buying an additional 221 shares during the last quarter. Pring Turner Capital Group Inc. grew its position in Apple by 0.5% during the fourth quarter. Pring Turner Capital Group Inc. now owns 11,169 shares of the iPhone maker’s stock valued at $2,797,000 after buying an additional 60 shares during the period. Finally, Prasad Wealth Partners LLC purchased a new stake in Apple during the fourth quarter worth about $2,287,000. 67.73% of the stock is owned by institutional investors.

Insider Activity at Apple

In other news, SVP Katherine L. Adams sold 38,822 shares of the company’s 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 sale, the senior vice president now owns 179,158 shares of the company’s stock, valued at approximately $40,072,269.86. This represents a 17.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the transaction, the chief executive officer now owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. The trade was a 3.19 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 187,021 shares of company stock valued at $41,760,140. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Down 3.7 %

Shares of Apple stock opened at $205.35 on Friday. 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 Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The firm has a market cap of $3.08 trillion, a PE ratio of 32.60, a PEG ratio of 2.44 and a beta of 1.26. The company has a 50 day simple moving average of $212.15 and a two-hundred day simple moving average of $228.61.

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

Apple announced that its board has authorized a share repurchase plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 12th will be given a dividend of $0.26 per share. The ex-dividend date is Monday, May 12th. This is a positive change from Apple’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.51%. Apple’s dividend payout ratio is 15.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Redburn Partners set a $230.00 price target on shares of Apple in a research note on Friday, January 31st. DA Davidson raised their target price on Apple from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday. Rosenblatt Securities lowered Apple from a “buy” rating to a “neutral” rating and set a $217.00 target price on the stock. in a research note on Friday. JPMorgan Chase & Co. cut their price target on Apple from $270.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Finally, Loop Capital lowered their price objective on Apple from $230.00 to $215.00 and set a “hold” rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.17.

About Apple

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.