Nwam LLC Has $69.55 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Nwam LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 9.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 277,740 shares of the iPhone maker’s stock after selling 28,690 shares during the period. Apple accounts for approximately 4.3% of Nwam LLC’s investment portfolio, making the stock its 2nd largest holding. Nwam LLC’s holdings in Apple were worth $69,552,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. State Street Corp raised its position in shares of Apple by 10.6% in the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock valued at $136,074,372,000 after purchasing an additional 55,935,105 shares during the last quarter. FMR LLC lifted its stake in Apple by 5.3% during the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock valued at $84,779,231,000 after acquiring an additional 18,224,005 shares during the period. Geode Capital Management LLC increased its stake in shares of Apple by 6.5% in the third 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 period. Charles Schwab Investment Management Inc. raised its holdings in shares of Apple by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock worth $22,121,656,000 after purchasing an additional 5,893,741 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Apple by 1.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,568,390 shares of the iPhone maker’s stock valued at $21,335,435,000 after purchasing an additional 1,742,087 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Evercore ISI increased their price target on Apple from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 18th. Citigroup reaffirmed a “cautious” rating on shares of Apple in a research note on Monday. Monness Crespi & Hardt cut their price objective on Apple from $260.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Loop Capital lowered their price target on Apple from $230.00 to $215.00 and set a “hold” rating on the stock in a research note on Wednesday, April 30th. Finally, Oppenheimer downgraded Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $235.80.

Insider Buying and Selling at Apple

In related news, CEO Timothy D. Cook sold 108,136 shares of the business’s 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 directly owns 3,280,295 shares of the company’s stock, valued at $733,637,976.75. The trade was a 3.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the company’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the sale, the chief financial officer now owns 4,569 shares in the company, valued at approximately $941,214. This trade represents a 50.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 187,021 shares of company stock valued at $41,760,140 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Apple Trading Up 0.0 %

AAPL opened at $198.92 on Wednesday. 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 firm has a market cap of $2.99 trillion, a P/E ratio of 31.57, a P/E/G ratio of 2.44 and a beta of 1.27. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The business has a fifty day simple moving average of $210.55 and a 200-day simple moving average of $228.13.

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

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 12th will be issued 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 dividend on an annualized basis and a yield of 0.52%. Apple’s dividend payout ratio is 16.20%.

Apple announced that its Board of Directors has authorized a share buyback plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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.