IAG Wealth Partners LLC Purchases 190 Shares of Apple Inc. (NASDAQ:AAPL)

IAG Wealth Partners LLC increased its stake in Apple Inc. (NASDAQ:AAPL) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,876 shares of the iPhone maker’s stock after acquiring an additional 190 shares during the quarter. IAG Wealth Partners LLC’s holdings in Apple were worth $1,722,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAPL. State Street Corp lifted its stake in shares of 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 acquiring an additional 55,935,105 shares during the period. Proficio Capital Partners LLC lifted its stake in shares of Apple by 23,555.4% in the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker’s stock worth $5,272,653,000 after acquiring an additional 20,966,232 shares during the period. Geode Capital Management LLC lifted 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. FMR LLC lifted its stake in shares of Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after acquiring an additional 18,224,005 shares during the period. Finally, Strategic Financial Concepts LLC lifted its stake in Apple by 25,285.2% in the fourth quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker’s stock valued at $2,411,260,000 after buying an additional 9,590,933 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on AAPL shares. Argus raised Apple to a “strong-buy” rating in a research note on Friday, January 31st. Oppenheimer lowered Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price target on Apple from $270.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Scotiabank lowered Apple to a “market perform” rating in a research note on Friday, May 2nd. Finally, Tigress Financial boosted their price target on Apple from $295.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Thursday, April 3rd. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $235.80.

Apple Trading Down 0.4%

Shares of Apple stock opened at $201.36 on Friday. The stock has a fifty day simple moving average of $205.39 and a 200 day simple moving average of $226.12. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a market capitalization of $3.01 trillion, a P/E ratio of 31.96, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping 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 business had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter in the prior year, the company posted $1.53 earnings per share. Apple’s revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.52%. This is an increase from Apple’s previous quarterly dividend of $0.25. Apple’s dividend payout ratio is 16.20%.

Apple declared that its Board of Directors has initiated a share repurchase plan 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 stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 108,136 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was 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 in the company, valued at $733,637,976.75. This represents a 3.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 4,486 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the transaction, the insider now owns 15,533 shares of the company’s stock, valued at $3,233,815.27. This trade represents a 22.41% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is owned by corporate insiders.

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.