AAFMAA Wealth Management & Trust LLC Grows Stake in Apple Inc. (NASDAQ:AAPL)

AAFMAA Wealth Management & Trust LLC increased its stake in Apple Inc. (NASDAQ:AAPL) by 4.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,140 shares of the iPhone maker’s stock after acquiring an additional 761 shares during the period. Apple makes up approximately 1.7% of AAFMAA Wealth Management & Trust LLC’s investment portfolio, making the stock its 12th biggest position. AAFMAA Wealth Management & Trust LLC’s holdings in Apple were worth $3,807,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Drystone LLC bought a new stake in shares of Apple during the fourth quarter valued at approximately $25,000. Life Planning Partners Inc bought a new position in Apple in the fourth quarter worth approximately $47,000. Conquis Financial LLC bought a new position in Apple in the fourth quarter worth approximately $63,000. LSV Asset Management bought a new position in Apple in the fourth quarter worth approximately $65,000. Finally, Pillar Financial Advisors LLC bought a new position in Apple in the fourth quarter worth approximately $82,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction on Wednesday, April 23rd. The stock was 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 directly owned 4,569 shares of the company’s stock, valued at approximately $941,214. The trade was a 50.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction on 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 directly owned 15,533 shares of the company’s stock, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AAPL. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research report on Tuesday, June 10th. DA Davidson upped their price target on shares of Apple from $230.00 to $250.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Monness Crespi & Hardt upped their price target on shares of Apple to $245.00 and gave the company a “buy” rating in a report on Tuesday, June 10th. KeyCorp raised shares of Apple from an “underweight” rating to a “sector weight” rating in a report on Monday, April 14th. Finally, Citigroup reaffirmed a “buy” rating on shares of Apple in a report on Tuesday, June 10th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $234.95.

Apple Stock Performance

Shares of Apple stock opened at $213.36 on Monday. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company 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 business’s 50 day moving average price is $203.35 and its 200 day moving average price is $218.44.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data 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 return on equity of 167.24% and a net margin of 24.30%. The firm had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter last year, the business posted $1.53 earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. On average, research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its board has approved a stock buyback program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. This is an increase from Apple’s previous quarterly dividend of $0.25. Apple’s payout ratio is currently 16.20%.

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.