Yarger Wealth Strategies LLC Acquires 56 Shares of Apple Inc. (NASDAQ:AAPL)

Yarger Wealth Strategies LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,216 shares of the iPhone maker’s stock after buying an additional 56 shares during the quarter. Apple comprises 4.4% of Yarger Wealth Strategies LLC’s portfolio, making the stock its 4th biggest position. Yarger Wealth Strategies LLC’s holdings in Apple were worth $7,600,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in AAPL. Tallon Kerry Patrick acquired a new stake in shares of Apple in the 4th quarter valued at about $1,877,000. First National Bank of Hutchinson raised its position in Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after buying an additional 6,982 shares during the last quarter. Capital & Planning LLC lifted its stake in Apple by 10.7% in the 4th quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker’s stock valued at $6,836,000 after acquiring an additional 2,647 shares in the last quarter. Eagle Capital Management LLC boosted its position in Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after acquiring an additional 272 shares during the last quarter. Finally, Brighton Jones LLC grew its stake in shares of Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after acquiring an additional 69,207 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Activity

In related news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider directly owned 15,533 shares of the company’s stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the 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 directly owned 4,569 shares of the company’s stock, valued at approximately $941,214. The trade was a 50.01% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on AAPL. Barclays set a $173.00 price objective on shares of Apple and gave the stock an “underweight” rating in a research report on Tuesday, June 24th. Raymond James Financial cut their price target on shares of Apple from $250.00 to $230.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. China Renaissance began coverage on shares of Apple in a research note on Tuesday, April 22nd. They set a “buy” rating and a $241.00 price objective for the company. Rosenblatt Securities downgraded Apple from a “buy” rating to a “neutral” rating and set a $217.00 target price on the stock. in a research report on Friday, May 2nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Apple in a report on Tuesday, June 10th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $235.27.

Apple Price Performance

AAPL stock opened at $208.62 on Tuesday. The company’s 50-day moving average price is $203.58 and its two-hundred day moving average price is $216.50. The firm has a market cap of $3.12 trillion, a P/E ratio of 32.50, a P/E/G ratio of 2.36 and a beta of 1.20. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.

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

Apple declared that its Board of Directors has initiated a share repurchase program on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a dividend of $0.26 per share. This is an increase from Apple’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, May 12th. Apple’s dividend payout ratio is currently 16.20%.

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.