Osprey Private Wealth LLC Acquires 690 Shares of Apple Inc. (NASDAQ:AAPL)

Osprey Private Wealth LLC boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 8.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,575 shares of the iPhone maker’s stock after purchasing an additional 690 shares during the quarter. Osprey Private Wealth LLC’s holdings in Apple were worth $1,905,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock valued at $349,532,608,000 after acquiring an additional 49,168,843 shares in the last quarter. Geode Capital Management LLC grew its holdings in Apple by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker’s stock worth $84,999,145,000 after buying an additional 6,307,413 shares in the last quarter. Norges Bank bought a new stake in Apple during the fourth quarter worth $46,868,648,000. Northern Trust Corp grew its holdings in Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after buying an additional 20,079,472 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Apple by 14.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock worth $26,220,566,000 after buying an additional 13,137,968 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Up 0.2%

AAPL opened at $209.11 on Wednesday. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a market cap of $3.12 trillion, a PE ratio of 32.57, a price-to-earnings-growth ratio of 2.33 and a beta of 1.20. 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 50 day moving average of $203.79 and a 200 day moving average of $216.45.

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

Apple declared that its board has approved a share repurchase plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Apple Increases Dividend

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

Insider Activity

In other news, CFO Kevan Parekh sold 4,570 shares of the company’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer directly owned 4,569 shares in the company, valued at $941,214. This represents a 50.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Chris Kondo sold 4,486 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the sale, the insider directly owned 15,533 shares in the company, valued at approximately $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 company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AAPL. Wedbush reiterated an “outperform” rating and set a $270.00 price target on shares of Apple in a report on Wednesday, July 9th. Barclays set a $173.00 price target on Apple and gave the stock an “underweight” rating in a report on Tuesday, June 24th. KeyCorp upgraded Apple from an “underweight” rating to a “sector weight” rating in a report on Monday, April 14th. Monness Crespi & Hardt upped their price target on Apple to $245.00 and gave the stock a “buy” rating in a report on Tuesday, June 10th. Finally, Raymond James Financial decreased their price target on Apple from $250.00 to $230.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $235.27.

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.