Collaborative Wealth Managment Inc. Has $6.23 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Collaborative Wealth Managment Inc. cut its stake in Apple Inc. (NASDAQ:AAPL) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,890 shares of the iPhone maker’s stock after selling 1,549 shares during the period. Apple accounts for about 2.8% of Collaborative Wealth Managment Inc.’s investment portfolio, making the stock its 11th biggest position. Collaborative Wealth Managment Inc.’s holdings in Apple were worth $6,233,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Amara Financial LLC. bought a new stake in shares of Apple during the third quarter worth approximately $288,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Apple during the third quarter worth approximately $4,972,000. SYM FINANCIAL Corp raised its stake in shares of Apple by 6.3% during the third quarter. SYM FINANCIAL Corp now owns 28,626 shares of the iPhone maker’s stock worth $6,670,000 after buying an additional 1,695 shares during the last quarter. Cardano Risk Management B.V. raised its stake in shares of Apple by 2.9% during the third quarter. Cardano Risk Management B.V. now owns 3,723,104 shares of the iPhone maker’s stock worth $876,483,000 after buying an additional 103,856 shares during the last quarter. Finally, Tradewinds Capital Management LLC raised its stake in shares of Apple by 9.2% during the fourth quarter. Tradewinds Capital Management LLC now owns 21,198 shares of the iPhone maker’s stock worth $5,308,000 after buying an additional 1,779 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Stock Performance

Shares of AAPL opened at $195.27 on Monday. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The firm has a fifty day simple moving average of $205.04 and a 200 day simple moving average of $225.94. The stock has a market capitalization of $2.92 trillion, a price-to-earnings ratio of 31.00, a PEG 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 earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 160.83%. The business had revenue of $95.36 billion during the quarter, compared to analysts’ expectations of $94.04 billion. During the same quarter in the prior year, the company posted $1.53 earnings per share. The firm’s revenue was up 5.1% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a $0.26 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. This is a boost from Apple’s previous quarterly dividend of $0.25. Apple’s dividend payout ratio (DPR) is currently 16.20%.

Apple announced that its board has initiated a share repurchase program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Oppenheimer cut shares of Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Monness Crespi & Hardt decreased their price objective on shares of Apple from $260.00 to $245.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Maxim Group boosted their price objective on shares of Apple to $215.00 and gave the company a “hold” rating in a report on Friday, February 21st. Redburn Partners set a $230.00 price objective on shares of Apple in a report on Friday, January 31st. Finally, Morgan Stanley restated an “overweight” rating on shares of Apple in a report on Monday, May 12th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $235.80.

Insider Buying and Selling at Apple

In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the sale, the chief operating officer now owns 390,059 shares in the company, valued at $87,377,116.59. This trade represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 4,486 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider now owns 15,533 shares of the company’s stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,507 shares of company stock worth $42,694,080 over the last quarter. 0.06% of the stock is currently owned by 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.