Udine Wealth Management Inc. Has $14.97 Million Position in Apple Inc. (NASDAQ:AAPL)

Udine Wealth Management Inc. grew its position in Apple Inc. (NASDAQ:AAPL) by 3.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 67,389 shares of the iPhone maker’s stock after acquiring an additional 2,052 shares during the period. Apple accounts for approximately 10.0% of Udine Wealth Management Inc.’s investment portfolio, making the stock its 3rd biggest position. Udine Wealth Management Inc.’s holdings in Apple were worth $14,969,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of AAPL. Norges Bank bought a new position in Apple during the 4th quarter worth $46,868,648,000. GAMMA Investing LLC grew its holdings in Apple by 25,934.1% during the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock worth $133,425,490,000 after acquiring an additional 59,835,676 shares during the period. Vanguard Group Inc. grew its holdings in Apple by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock worth $349,532,608,000 after acquiring an additional 49,168,843 shares during the period. Proficio Capital Partners LLC grew its holdings in Apple by 23,555.4% during the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker’s stock worth $5,272,653,000 after acquiring an additional 20,966,232 shares during the period. Finally, Northern Trust Corp grew its holdings in Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after acquiring an additional 20,079,472 shares during the period. 67.73% of the stock is owned by institutional investors.

Apple Price Performance

Shares of NASDAQ AAPL opened at $213.36 on Friday. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The stock has a market cap of $3.19 trillion, a price-to-earnings ratio of 33.23, a PEG ratio of 2.38 and a beta of 1.20. 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’s 50-day simple moving average is $203.35 and its 200 day simple moving average is $218.66.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping 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 firm had revenue of $95.36 billion for the quarter, compared to analysts’ expectations of $94.04 billion. During the same quarter last year, the firm earned $1.53 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. 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 has approved a share repurchase program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have weighed in on AAPL shares. China Renaissance started coverage on Apple in a report on Tuesday, April 22nd. They set a “buy” rating and a $241.00 price target for the company. The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a report on Wednesday, May 21st. Monness Crespi & Hardt increased their price target on Apple to $245.00 and gave the stock a “buy” rating in a report on Tuesday, June 10th. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a report on Tuesday, June 10th. Finally, Rosenblatt Securities downgraded Apple from a “buy” rating to a “neutral” rating and set a $217.00 target price for the company. in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $234.95.

Insider Activity at Apple

In other Apple news, CFO Kevan Parekh sold 4,570 shares of Apple 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 transaction, the chief financial officer owned 4,569 shares of the company’s stock, valued at $941,214. This trade represents a 50.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction that occurred 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 transaction, the insider directly owned 15,533 shares in the company, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

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.