Facet Wealth Inc. Has $29.27 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Facet Wealth Inc. reduced its stake in Apple Inc. (NASDAQ:AAPL) by 10.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 116,886 shares of the iPhone maker’s stock after selling 14,182 shares during the quarter. Apple comprises 0.8% of Facet Wealth Inc.’s holdings, making the stock its 24th largest holding. Facet Wealth Inc.’s holdings in Apple were worth $29,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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 Apple by 10.6% in the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock valued at $136,074,372,000 after buying an additional 55,935,105 shares during the period. Proficio Capital Partners LLC grew its holdings in Apple by 23,555.4% during 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 buying an additional 20,966,232 shares in the last quarter. Geode Capital Management LLC grew its holdings in Apple by 6.5% during 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 buying an additional 20,483,787 shares in the last quarter. FMR LLC grew its holdings in Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after buying an additional 18,224,005 shares in the last quarter. Finally, Strategic Financial Concepts LLC grew its holdings in Apple by 25,285.2% during the fourth quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker’s stock worth $2,411,260,000 after buying an additional 9,590,933 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

NASDAQ:AAPL opened at $195.27 on Monday. The business’s 50-day moving average price is $205.04 and its two-hundred day moving average price is $225.94. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The stock has a market cap of $2.92 trillion, a P/E ratio of 31.00, a PEG ratio of 2.44 and a beta of 1.27. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.62 by $0.03. The firm 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 company’s revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.53 EPS. As a group, equities analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

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

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a dividend of $0.26 per share. 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. This represents a $1.04 annualized dividend and a dividend yield of 0.53%. Apple’s dividend payout ratio is 16.20%.

Insider Activity

In other news, COO Jeffrey E. Williams sold 35,493 shares of the 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 3,280,295 shares in the company, valued at $733,637,976.75. This trade represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AAPL has been the subject of a number of recent analyst reports. DA Davidson upped their price objective on Apple from $230.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. KeyCorp upgraded Apple from an “underweight” rating to a “sector weight” rating in a research note on Monday, April 14th. UBS Group reduced their price objective on Apple from $236.00 to $210.00 and set a “neutral” rating for the company in a research note on Wednesday, April 23rd. Jefferies Financial Group reiterated an “underperform” rating and set a $170.62 price target (up previously from $167.88) on shares of Apple in a research note on Friday, May 2nd. Finally, Oppenheimer downgraded Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average target price of $235.80.

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.