Tumwater Wealth Management LLC Takes Position in Apple Inc. (NASDAQ:AAPL)

Tumwater Wealth Management LLC acquired a new position in Apple Inc. (NASDAQ:AAPL) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,139 shares of the iPhone maker’s stock, valued at approximately $1,287,000. Apple accounts for about 0.7% of Tumwater Wealth Management LLC’s portfolio, making the stock its 10th largest position.

Other large investors have also recently modified their holdings of the company. Atlanta Consulting Group Advisors LLC grew its position in Apple by 4.0% during the 3rd quarter. Atlanta Consulting Group Advisors LLC now owns 20,320 shares of the iPhone maker’s stock valued at $4,735,000 after purchasing an additional 776 shares during the last quarter. Tower Bridge Advisors raised its stake in Apple by 0.6% during the 3rd quarter. Tower Bridge Advisors now owns 237,376 shares of the iPhone maker’s stock worth $55,309,000 after acquiring an additional 1,308 shares during the period. Concord Asset Management LLC VA raised its stake in Apple by 10.1% during the 3rd quarter. Concord Asset Management LLC VA now owns 66,396 shares of the iPhone maker’s stock worth $15,470,000 after acquiring an additional 6,071 shares during the period. RiverPark Advisors LLC raised its position in shares of Apple by 8.1% during the third quarter. RiverPark Advisors LLC now owns 31,685 shares of the iPhone maker’s stock valued at $7,383,000 after buying an additional 2,368 shares during the last quarter. Finally, Cardano Risk Management B.V. increased its position in Apple by 2.9% in 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 purchasing an additional 103,856 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Down 3.0%

Apple stock opened at $195.27 on Monday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The firm has a market capitalization of $2.92 trillion, a price-to-earnings ratio of 31.00, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The stock’s fifty day moving average is $205.04 and its two-hundred day moving average is $225.94.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 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 for the quarter, compared to the consensus estimate of $94.04 billion. During the same period last year, the business posted $1.53 EPS. The company’s revenue was up 5.1% on a year-over-year basis. Analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors 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 represents a $1.04 dividend on an annualized basis and a yield of 0.53%. This is a positive change from Apple’s previous quarterly dividend of $0.25. Apple’s payout ratio is currently 16.20%.

Apple declared that its board has approved a stock repurchase plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have commented on AAPL. Evercore ISI lifted their price objective on shares of Apple from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 18th. Rosenblatt Securities downgraded shares of Apple from a “buy” rating to a “neutral” rating and set a $217.00 price objective on the stock. in a report on Friday, May 2nd. Maxim Group upped their price objective on Apple to $215.00 and gave the stock a “hold” rating in a research report on Friday, February 21st. TD Cowen reduced their price objective on Apple from $290.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. cut their price objective on Apple from $270.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average price target of $235.80.

Insider Buying and Selling at Apple

In other news, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction 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 owns 390,059 shares in the company, valued at approximately $87,377,116.59. The trade was a 8.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the business’s 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 completion of 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 disclosure for this sale can be found here. Insiders have sold 191,507 shares of company stock valued at $42,694,080 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

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.