Elite Life Management LLC Has $1.45 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Elite Life Management LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,788 shares of the iPhone maker’s stock after acquiring an additional 81 shares during the quarter. Apple makes up 4.3% of Elite Life Management LLC’s holdings, making the stock its 7th biggest holding. Elite Life Management LLC’s holdings in Apple were worth $1,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the business. Drystone LLC bought a new stake in shares of Apple in the fourth quarter valued at $25,000. Life Planning Partners Inc purchased a new position in shares of Apple in the 4th quarter worth about $47,000. SPX Gestao de Recursos Ltda purchased a new stake in Apple during the 3rd quarter valued at about $71,000. Teachers Insurance & Annuity Association of America bought a new position in Apple during the 3rd quarter valued at approximately $77,000. Finally, Pillar Financial Advisors LLC bought a new position in shares of Apple in the 4th quarter worth approximately $82,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AAPL shares. China Renaissance began coverage on Apple in a research report on Tuesday, April 22nd. They set a “buy” rating and a $241.00 price objective for the company. DA Davidson boosted their price objective on Apple from $230.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. UBS Group reduced their target price on Apple from $236.00 to $210.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. Rosenblatt Securities cut Apple from a “buy” rating to a “neutral” rating and set a $217.00 price objective on the stock. in a research note on Friday, May 2nd. Finally, Bank of America cut their target price on Apple from $250.00 to $240.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $235.80.

Insider Activity

In other Apple news, insider Chris Kondo sold 4,486 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 390,059 shares in the company, valued at approximately $87,377,116.59. This represents a 8.34% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,507 shares of company stock valued at $42,694,080. Insiders own 0.06% of the company’s stock.

Apple Price Performance

NASDAQ:AAPL opened at $195.27 on Friday. 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 stock’s 50-day moving average price is $205.04 and its 200-day moving average price is $225.92. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The stock has a market capitalization of $2.92 trillion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27.

Apple (NASDAQ:AAPL) last announced 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. The company had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.53 earnings per share. As a group, equities analysts expect that Apple Inc. will post 7.28 EPS 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 given a $0.26 dividend. The ex-dividend date was Monday, May 12th. This is a boost from Apple’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. Apple’s payout ratio is 16.20%.

Apple announced that its board has authorized a share buyback plan 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 plans are generally an indication that the company’s management believes its shares are undervalued.

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.