Vermillion Wealth Management Inc. Takes $2.64 Million Position in Apple Inc. (NASDAQ:AAPL)

Vermillion Wealth Management Inc. acquired a new stake in Apple Inc. (NASDAQ:AAPL) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,540 shares of the iPhone maker’s stock, valued at approximately $2,639,000. Apple makes up 1.4% of Vermillion Wealth Management Inc.’s portfolio, making the stock its 16th largest position.

Several other large investors have also made changes to their positions in the business. Advanced Portfolio Management LLC grew its position in shares of Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock valued at $3,260,000 after purchasing an additional 47 shares during the last quarter. Hanseatic Management Services Inc. boosted its position in Apple by 1.3% during the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker’s stock worth $945,000 after acquiring an additional 48 shares during the last quarter. Family Capital Management Inc. boosted its position in Apple by 0.3% during the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker’s stock worth $4,235,000 after acquiring an additional 48 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in shares of Apple by 0.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker’s stock valued at $4,178,000 after purchasing an additional 48 shares during the last quarter. Finally, Scarborough Advisors LLC boosted its holdings in shares of Apple by 0.3% in the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker’s stock valued at $3,992,000 after purchasing an additional 51 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Up 0.5%

AAPL stock opened at $196.58 on Friday. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a market capitalization of $2.94 trillion, a price-to-earnings ratio of 30.62, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The firm’s 50-day moving average is $202.29 and its two-hundred day moving average is $222.00. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $94.04 billion. During the same period in the previous year, the firm earned $1.53 EPS. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend 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 announced that its board has approved a stock buyback program on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have weighed in on AAPL shares. Tigress Financial lifted their price target on shares of Apple from $295.00 to $300.00 and gave the company a “strong-buy” rating in a report on Thursday, April 3rd. Barclays dropped their price target on shares of Apple from $197.00 to $173.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 30th. The Goldman Sachs Group reissued a “buy” rating on shares of Apple in a report on Wednesday, May 21st. Jefferies Financial Group reissued an “underperform” rating and set a $170.62 price objective (up from $167.88) on shares of Apple in a report on Friday, May 2nd. Finally, Rosenblatt Securities downgraded shares of Apple from a “buy” rating to a “neutral” rating and set a $217.00 price objective for the company. in a research report on Friday, May 2nd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.86.

Insider Activity

In other Apple news, CEO Timothy D. Cook sold 108,136 shares of the company’s stock in a transaction that occurred on 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 approximately $733,637,976.75. This represents a 3.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 4,569 shares in the company, valued at approximately $941,214. This represents a 50.01% 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 90 days. 0.06% of the stock is owned by company insiders.

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.