Daner Wealth Management LLC Takes Position in Apple Inc. (NASDAQ:AAPL)

Daner Wealth Management LLC purchased a new stake in shares of Apple Inc. (NASDAQ:AAPL) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,447 shares of the iPhone maker’s stock, valued at approximately $819,000. Apple makes up 0.6% of Daner Wealth Management LLC’s holdings, making the stock its 24th biggest holding.

Other hedge funds also recently bought and sold shares of the company. State Street Corp increased its stake in Apple by 10.6% in the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after purchasing an additional 55,935,105 shares during the period. Geode Capital Management LLC raised its stake in Apple by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock worth $77,542,863,000 after acquiring an additional 20,483,787 shares during the last quarter. FMR LLC grew its position in Apple by 5.3% during the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after purchasing an additional 18,224,005 shares during the period. Strategic Financial Concepts LLC boosted its holdings in Apple by 25,285.2% during the fourth quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker’s stock worth $2,411,260,000 after buying an additional 9,590,933 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Apple by 6.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock worth $22,121,656,000 after buying an additional 5,893,741 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AAPL. Barclays dropped their target price on shares of Apple from $197.00 to $173.00 and set an “underweight” rating for the company in a report on Wednesday, April 30th. Morgan Stanley raised their price target on Apple from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. KeyCorp upgraded shares of Apple from an “underweight” rating to a “sector weight” rating in a report on Monday, April 14th. TD Cowen lowered their price objective on shares of Apple from $290.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Redburn Partners set a $230.00 price target on shares of Apple in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $235.80.

Apple Stock Performance

Apple stock opened at $205.35 on Monday. The stock’s 50 day moving average price is $212.15 and its 200 day moving average price is $228.58. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The firm has a market capitalization of $3.08 trillion, a PE ratio of 32.60, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. Apple Inc. has a one year low of $169.21 and a one year high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.03. The firm 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.53 earnings per share. As a group, sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 12th will be given a $0.26 dividend. 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. The ex-dividend date of this dividend is Monday, May 12th. Apple’s dividend payout ratio is 15.87%.

Apple declared that its board has initiated a stock buyback program on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, SVP Katherine L. Adams sold 38,822 shares of the business’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 directly owns 179,158 shares in the company, valued at approximately $40,072,269.86. The trade was a 17.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the transaction, the chief operating officer now owns 390,059 shares of the company’s stock, valued at approximately $87,377,116.59. This trade represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 187,021 shares of company stock worth $41,760,140. Corporate insiders own 0.06% of the company’s stock.

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.