Apple Inc. (NASDAQ:AAPL) is Monograph Wealth Advisors LLC’s 6th Largest Position

Monograph Wealth Advisors LLC raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 102,776 shares of the iPhone maker’s stock after purchasing an additional 5,296 shares during the period. Apple accounts for approximately 3.4% of Monograph Wealth Advisors LLC’s investment portfolio, making the stock its 6th biggest holding. Monograph Wealth Advisors LLC’s holdings in Apple were worth $25,737,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. OneAscent Wealth Management LLC raised its holdings in shares of Apple by 4.6% in the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock worth $2,337,000 after buying an additional 409 shares during the last quarter. Allstate Corp increased its position in shares of Apple by 3,368.2% in the 4th quarter. Allstate Corp now owns 451,489 shares of the iPhone maker’s stock valued at $113,062,000 after acquiring an additional 438,471 shares during the period. Vinva Investment Management Ltd increased its position in shares of Apple by 12.4% in the 4th quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker’s stock valued at $192,700,000 after acquiring an additional 83,997 shares during the period. Tradewinds Capital Management LLC lifted its position in Apple by 9.2% during the 4th quarter. Tradewinds Capital Management LLC now owns 21,198 shares of the iPhone maker’s stock worth $5,308,000 after acquiring an additional 1,779 shares during the period. Finally, Berkshire Bank lifted its position in Apple by 2.7% during the 4th quarter. Berkshire Bank now owns 89,580 shares of the iPhone maker’s stock worth $22,433,000 after acquiring an additional 2,360 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $195.64 on Wednesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The firm has a fifty day moving average of $202.21 and a 200 day moving average of $222.47. The firm has a market cap of $2.92 trillion, a PE ratio of 30.47, a PEG ratio of 2.22 and a beta of 1.22. Apple Inc. has a one year low of $169.21 and a one year high of $260.10.

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 the consensus estimate of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same quarter last year, the business earned $1.53 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

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

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a dividend of $0.26 per share. This is a positive change from Apple’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.53%. The ex-dividend date was Monday, May 12th. Apple’s payout ratio is 16.20%.

Insider Buying and Selling at Apple

In other Apple news, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer now owns 4,569 shares of the company’s stock, valued at $941,214. The trade was a 50.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the company’s stock in a transaction on 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 directly owns 15,533 shares of the company’s stock, 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 over the last quarter. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Scotiabank cut Apple to a “market perform” rating in a research note on Friday, May 2nd. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research report on Tuesday, June 10th. Evercore ISI lifted their price objective on shares of Apple to $250.00 and gave the company a “buy” rating in a research note on Friday, June 6th. China Renaissance initiated coverage on shares of Apple in a research note on Tuesday, April 22nd. They issued a “buy” rating and a $241.00 price objective on the stock. Finally, Monness Crespi & Hardt boosted their target price on shares of Apple to $245.00 and gave the company a “buy” rating in a research report on Tuesday, June 10th. Three 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $234.86.

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.