Greenwich Wealth Management LLC Has $51.78 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Greenwich Wealth Management LLC lifted its holdings in Apple Inc. (NASDAQ:AAPL) by 0.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 206,765 shares of the iPhone maker’s stock after buying an additional 236 shares during the quarter. Apple comprises 3.7% of Greenwich Wealth Management LLC’s portfolio, making the stock its 5th biggest holding. Greenwich Wealth Management LLC’s holdings in Apple were worth $51,778,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AAPL. Drystone LLC bought a new position in shares of Apple in the fourth quarter valued at about $25,000. Life Planning Partners Inc bought a new position in shares of Apple in the fourth quarter valued at about $47,000. SPX Gestao de Recursos Ltda bought a new position in shares of Apple in the third quarter valued at about $71,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Apple in the third quarter valued at about $77,000. Finally, Pillar Financial Advisors LLC bought a new stake in Apple during the 4th quarter worth about $82,000. 67.73% of the stock is owned by institutional investors.

Apple Trading Down 3.0%

Shares of Apple stock opened at $195.27 on Monday. The business has a fifty day simple moving average of $205.04 and a two-hundred day simple moving average of $225.94. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a market capitalization of $2.92 trillion, a price-to-earnings ratio of 31.00, a P/E/G ratio of 2.44 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.

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, beating 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 last year, the firm posted $1.53 EPS. The company’s quarterly 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 year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were issued a dividend of $0.26 per share. This is an increase from Apple’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.53%. Apple’s dividend payout ratio (DPR) is currently 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 outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AAPL shares. Oppenheimer cut Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Redburn Partners set a $230.00 target price on Apple in a research report on Friday, January 31st. 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. Evercore ISI boosted their target price on Apple from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 18th. Finally, TD Cowen decreased their target price on Apple from $290.00 to $275.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $235.80.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction 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 position. 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 stock in a transaction on 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 owns 15,533 shares in the company, valued at $3,233,815.27. The trade was a 22.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,507 shares of company stock valued at $42,694,080 in the last quarter. 0.06% of the stock is currently owned by insiders.

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.