Apple Inc. (NASDAQ:AAPL) Position Increased by Schrum Private Wealth Management LLC

Schrum Private Wealth Management LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,418 shares of the iPhone maker’s stock after purchasing an additional 802 shares during the period. Apple makes up about 5.4% of Schrum Private Wealth Management LLC’s portfolio, making the stock its 3rd biggest position. Schrum Private Wealth Management LLC’s holdings in Apple were worth $6,365,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Drystone LLC purchased a new stake in shares of Apple in the 4th quarter valued at $25,000. Life Planning Partners Inc purchased a new stake in Apple during the fourth quarter worth $47,000. SPX Gestao de Recursos Ltda purchased a new stake in Apple during the third quarter worth $71,000. Teachers Insurance & Annuity Association of America purchased a new stake in Apple during the third quarter worth $77,000. Finally, Compass Planning Associates Inc purchased a new stake in Apple during the fourth quarter worth $96,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AAPL. The Goldman Sachs Group lowered their price target on shares of Apple from $259.00 to $256.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. DA Davidson increased their price target on shares of Apple from $230.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Barclays lowered their price target on shares of Apple from $197.00 to $173.00 and set an “underweight” rating on the stock in a report on Wednesday, April 30th. Bank of America lowered their price target on shares of Apple from $250.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Finally, Citigroup reissued a “cautious” rating on shares of Apple in a report on Monday, May 5th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $235.80.

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 108,136 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the transaction, the chief executive officer now owns 3,280,295 shares of the company’s stock, valued at approximately $733,637,976.75. This trade represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the firm’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the transaction, the chief financial officer now directly owns 4,569 shares of the company’s stock, valued at approximately $941,214. The trade was a 50.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,507 shares of company stock valued at $42,694,080 over the last 90 days. 0.06% of the stock is owned by company insiders.

Apple Trading Down 0.4%

Shares of AAPL stock opened at $211.45 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. The firm has a market cap of $3.16 trillion, a PE ratio of 33.56, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. The company has a 50-day moving average of $206.28 and a two-hundred day moving average of $226.84. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL) last announced its earnings results 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. The company had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. Apple’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.53 earnings per share. On average, analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. This is a positive change from Apple’s previous quarterly dividend of $0.25. Apple’s dividend payout ratio (DPR) is 16.20%.

Apple announced that its Board of Directors has authorized a stock 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 reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership 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.