Apple Inc. (NASDAQ:AAPL) is ABLE Financial Group LLC’s 6th Largest Position

ABLE Financial Group LLC increased its stake in Apple Inc. (NASDAQ:AAPL) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,809 shares of the iPhone maker’s stock after buying an additional 1,446 shares during the period. Apple comprises about 3.3% of ABLE Financial Group LLC’s investment portfolio, making the stock its 6th largest position. ABLE Financial Group LLC’s holdings in Apple were worth $11,221,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. KMT Wealth Management LLC acquired a new position in Apple in the fourth quarter worth about $409,000. Bernard Wealth Management Corp. acquired a new stake in Apple during the fourth quarter valued at approximately $23,233,000. XY Planning Network Inc. bought a new position in Apple during the 4th quarter worth approximately $1,096,000. HWG Holdings LP grew its position in shares of Apple by 1.7% in the 4th quarter. HWG Holdings LP now owns 92,119 shares of the iPhone maker’s stock worth $23,068,000 after acquiring an additional 1,520 shares in the last quarter. Finally, Yoffe Investment Management LLC bought a new stake in shares of Apple in the 4th quarter valued at approximately $1,556,000. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

Shares of AAPL opened at $201.00 on Friday. The firm has a market capitalization of $3.00 trillion, a PE ratio of 31.31, a P/E/G ratio of 2.19 and a beta of 1.22. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. The firm has a 50-day moving average price of $202.35 and a 200 day moving average price of $221.71. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $94.04 billion. During the same period last year, the firm posted $1.53 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts anticipate 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. 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 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Monday, May 12th. Apple’s dividend payout ratio (DPR) is presently 16.20%.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of Apple to $250.00 and gave the company a “buy” rating in a research note on Friday, June 6th. Wedbush reaffirmed an “outperform” rating and issued a $270.00 price target on shares of Apple in a report on Tuesday, June 10th. TD Cowen lowered their price objective on shares of Apple from $290.00 to $275.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Bank of America reiterated a “buy” rating and set a $235.00 price objective on shares of Apple in a research note on Tuesday, June 10th. Finally, China Renaissance started coverage on Apple in a research note on Tuesday, April 22nd. They issued a “buy” rating and a $241.00 target price for the company. 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $234.86.

Insider Activity

In other Apple news, insider Chris Kondo sold 4,486 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider now directly owns 15,533 shares of the company’s stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were 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 of the company’s stock, valued at approximately $733,637,976.75. This trade represents a 3.19% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is owned by company insiders.

Apple Company 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.