Capital A Wealth Management LLC Acquires Shares of 4,243 Apple Inc. (NASDAQ:AAPL)

Capital A Wealth Management LLC acquired a new stake in Apple Inc. (NASDAQ:AAPL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,243 shares of the iPhone maker’s stock, valued at approximately $1,062,000. Apple makes up approximately 1.8% of Capital A Wealth Management LLC’s holdings, making the stock its 13th largest position.

A number of other institutional investors and hedge funds have also modified their holdings of AAPL. OneAscent Wealth Management LLC grew its stake in Apple by 4.6% during the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock valued at $2,337,000 after acquiring an additional 409 shares in the last quarter. Allstate Corp boosted its holdings in 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 purchasing an additional 438,471 shares during the last quarter. Vinva Investment Management Ltd lifted its holdings 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 worth $192,700,000 after acquiring an additional 83,997 shares during the last quarter. Tradewinds Capital Management LLC lifted its holdings in shares of Apple by 9.2% in 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 last quarter. Finally, Berkshire Bank lifted its holdings in shares of Apple by 2.7% in 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 last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

AAPL has been the topic of several recent research reports. Tigress Financial upped their target price on shares of Apple from $295.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research report on Tuesday, June 10th. Jefferies Financial Group reiterated an “underperform” rating and set a $170.62 price target (up previously from $167.88) on shares of Apple in a research note on Friday, May 2nd. Monness Crespi & Hardt increased their price target on shares of Apple to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, June 10th. Finally, KeyCorp upgraded shares of Apple from an “underweight” rating to a “sector weight” rating in a research note on Monday, April 14th. Three equities 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $234.86.

Apple Price Performance

Apple stock opened at $201.00 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The company 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. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The stock has a 50-day moving average price of $202.35 and a two-hundred day moving average price of $221.71.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The company had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. During the same period last year, the company earned $1.53 earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. Analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.52%. This is a boost from Apple’s previous quarterly dividend of $0.25. Apple’s dividend payout ratio (DPR) is currently 16.20%.

Apple announced that its Board of Directors has approved a share buyback 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 repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 4,486 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was 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 owns 15,533 shares of the company’s stock, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the firm’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 value of $941,420.00. Following the completion of the sale, the chief financial officer now directly owns 4,569 shares of the company’s stock, valued at $941,214. This trade represents a 50.01% 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 90 days. Company 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.