Apple Inc. (NASDAQ:AAPL) Stock Holdings Lifted by Cliftonlarsonallen Wealth Advisors LLC

Cliftonlarsonallen Wealth Advisors LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 0.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,060 shares of the iPhone maker’s stock after purchasing an additional 144 shares during the quarter. Cliftonlarsonallen Wealth Advisors LLC’s holdings in Apple were worth $38,220,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of 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 in the last quarter. Geode Capital Management LLC boosted its stake in shares of Apple by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker’s stock worth $84,999,145,000 after acquiring an additional 6,307,413 shares in the last quarter. Norges Bank bought a new stake in shares of Apple during the 4th quarter worth about $46,868,648,000. Northern Trust Corp lifted its position in shares of 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 purchasing an additional 20,079,472 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Apple by 14.3% during the 4th 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 purchasing an additional 13,137,968 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several research analyst reports. Citigroup reissued a “buy” rating on shares of Apple in a research report on Tuesday, June 10th. China Renaissance initiated coverage on Apple in a research report on Tuesday, April 22nd. They set a “buy” rating and a $241.00 price objective for the company. Barclays set a $173.00 price objective on Apple and gave the stock an “underweight” rating in a research report on Tuesday, June 24th. UBS Group reissued a “hold” rating on shares of Apple in a research report on Friday. Finally, Wedbush reissued an “outperform” rating and set a $270.00 price objective on shares of Apple in a research report on Wednesday, July 9th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $235.11.

Insider Buying and Selling

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

Apple Trading Up 0.6%

AAPL stock opened at $211.18 on Friday. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The firm has a market cap of $3.15 trillion, a P/E ratio of 32.89, a P/E/G ratio of 2.35 and a beta of 1.20. The business’s 50 day moving average is $204.57 and its 200-day moving average is $215.85. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18.

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

Apple Increases Dividend

The firm also recently declared 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. The ex-dividend date was Monday, May 12th. This is a positive change from Apple’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. Apple’s dividend payout ratio is 16.20%.

Apple announced that its board 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 generally an indication that the company’s board of directors believes its shares are undervalued.

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.