Madison Wealth Partners Inc Sells 98 Shares of Apple Inc. (NASDAQ:AAPL)

Madison Wealth Partners Inc decreased its stake in Apple Inc. (NASDAQ:AAPL) by 0.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,096 shares of the iPhone maker’s stock after selling 98 shares during the quarter. Apple makes up about 2.8% of Madison Wealth Partners Inc’s investment portfolio, making the stock its 8th largest position. Madison Wealth Partners Inc’s holdings in Apple were worth $10,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the stock. State Street Corp raised its position in 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. Proficio Capital Partners LLC raised its position in Apple by 23,555.4% in the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker’s stock valued at $5,272,653,000 after purchasing an additional 20,966,232 shares during the last quarter. Geode Capital Management LLC raised its position 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 valued at $77,542,863,000 after purchasing an additional 20,483,787 shares during the last quarter. FMR LLC raised its position in Apple by 5.3% in the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock valued at $84,779,231,000 after purchasing an additional 18,224,005 shares during the last quarter. Finally, Strategic Financial Concepts LLC raised its position in Apple by 25,285.2% in the 4th quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker’s stock valued at $2,411,260,000 after purchasing an additional 9,590,933 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Down 0.4%

NASDAQ:AAPL opened at $201.36 on Friday. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock has a market cap of $3.01 trillion, a price-to-earnings ratio of 31.96, a PEG ratio of 2.44 and a beta of 1.27. The stock has a 50-day moving average price of $205.39 and a two-hundred day moving average price of $226.12.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.03. Apple had a return on equity of 160.83% and a net margin of 24.30%. The firm had revenue of $95.36 billion during the quarter, compared to analysts’ expectations of $94.04 billion. During the same period in the previous year, the firm earned $1.53 earnings per share. The company’s revenue was up 5.1% on a year-over-year basis. As a group, 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 was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. This is a boost from Apple’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple’s payout ratio is presently 16.20%.

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

Analysts Set New Price Targets

AAPL has been the subject of several research analyst reports. Redburn Partners set a $230.00 price objective on Apple in a research report on Friday, January 31st. JPMorgan Chase & Co. dropped their target price on Apple from $270.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Tigress Financial boosted their target price on Apple from $295.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Thursday, April 3rd. Raymond James dropped their target price on Apple from $250.00 to $230.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Finally, Barclays dropped their target price on Apple from $197.00 to $173.00 and set an “underweight” rating for the company in a research report on Wednesday, April 30th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $235.80.

Insider Buying and Selling at Apple

In other news, COO Jeffrey E. Williams sold 35,493 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the transaction, the chief operating officer now directly owns 390,059 shares of the company’s stock, valued at $87,377,116.59. This represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, the insider now directly owns 15,533 shares of the company’s stock, valued at $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,507 shares of company stock valued at $42,694,080. Company insiders own 0.06% of the company’s stock.

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.