Apple Inc. (NASDAQ:AAPL) Shares Bought by Jupiter Wealth Management LLC

Jupiter Wealth Management LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,429 shares of the iPhone maker’s stock after acquiring an additional 1,237 shares during the period. Apple accounts for approximately 7.6% of Jupiter Wealth Management LLC’s portfolio, making the stock its 2nd largest position. Jupiter Wealth Management LLC’s holdings in Apple were worth $15,133,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Drystone LLC purchased a new stake in shares of Apple in the fourth quarter valued at about $25,000. Life Planning Partners Inc purchased a new stake in shares of Apple in the fourth quarter valued at about $47,000. Conquis Financial LLC purchased a new stake in shares of Apple in the fourth quarter valued at about $63,000. LSV Asset Management purchased a new stake in shares of Apple in the fourth quarter valued at about $65,000. Finally, Pillar Financial Advisors LLC purchased a new stake in shares of Apple in the fourth quarter valued at about $82,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity

In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of the business’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the transaction, the chief operating officer now directly owns 390,059 shares in the company, valued at approximately $87,377,116.59. The trade was a 8.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $24,184,616.40. Following the transaction, the chief executive officer now directly owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This 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 worth $42,694,080 over the last ninety days. 0.06% of the stock is currently owned by insiders.

Apple Stock Up 0.5%

AAPL stock opened at $196.58 on Thursday. The company’s 50 day simple moving average is $202.17 and its 200-day simple moving average is $222.30. The firm has a market capitalization of $2.94 trillion, a PE ratio of 30.62, a P/E/G ratio of 2.18 and a beta of 1.22. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78.

Apple (NASDAQ:AAPL) last released its quarterly 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. The business had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.53 earnings per share. Equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple announced that its board has initiated a stock repurchase program on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a $0.26 dividend. 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 currently 16.20%.

Analyst Ratings Changes

AAPL has been the subject of a number of research reports. Rosenblatt Securities cut shares of Apple from a “buy” rating to a “neutral” rating and set a $217.00 target price for the company. in a report on Friday, May 2nd. Loop Capital reduced their target price on shares of Apple from $230.00 to $215.00 and set a “hold” rating for the company in a report on Wednesday, April 30th. Scotiabank cut shares of Apple to a “market perform” rating in a report on Friday, May 2nd. Barclays reduced their price objective on shares of Apple from $197.00 to $173.00 and set an “underweight” rating for the company in a research report on Wednesday, April 30th. Finally, Monness Crespi & Hardt raised their price objective 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 issued a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average price target of $234.86.

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.