Stockman Wealth Management Inc. Grows Holdings in Apple Inc. (NASDAQ:AAPL)

Stockman Wealth Management Inc. lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 101,437 shares of the iPhone maker’s stock after purchasing an additional 92 shares during the period. Apple comprises about 3.3% of Stockman Wealth Management Inc.’s investment portfolio, making the stock its 5th biggest position. Stockman Wealth Management Inc.’s holdings in Apple were worth $22,532,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. FNY Investment Advisers LLC lifted its position in Apple by 124.3% during the 1st quarter. FNY Investment Advisers LLC now owns 2,400 shares of the iPhone maker’s stock valued at $533,000 after acquiring an additional 1,330 shares during the period. QRG Capital Management Inc. grew its stake in shares of Apple by 8.9% in the first quarter. QRG Capital Management Inc. now owns 2,614,764 shares of the iPhone maker’s stock worth $580,818,000 after acquiring an additional 214,083 shares during the period. Avid Wealth Partners LLC grew its stake in shares of Apple by 28.3% in the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock worth $935,000 after acquiring an additional 930 shares during the period. Mason & Associates Inc grew its position in Apple by 1.3% during the first quarter. Mason & Associates Inc now owns 34,474 shares of the iPhone maker’s stock valued at $7,658,000 after buying an additional 441 shares during the period. Finally, Precision Wealth Strategies LLC grew its position in Apple by 4.5% during the first quarter. Precision Wealth Strategies LLC now owns 4,317 shares of the iPhone maker’s stock valued at $959,000 after buying an additional 184 shares during the period. Institutional investors own 67.73% of the company’s stock.

Apple Stock Up 0.6%

AAPL stock opened at $212.48 on Tuesday. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a market cap of $3.17 trillion, a P/E ratio of 33.10, a P/E/G ratio of 2.36 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’s 50-day moving average price is $204.57 and its 200 day moving average price is $215.41.

Apple (NASDAQ:AAPL) last issued its quarterly 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 during the quarter, compared to analyst estimates of $94.04 billion. During the same quarter in the prior year, the business posted $1.53 earnings per share. Apple’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, research analysts expect 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 paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. This is a positive change from Apple’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple’s payout ratio is presently 16.20%.

Apple declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows 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 board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AAPL. China Renaissance began coverage on shares of Apple in a report on Tuesday, April 22nd. They issued a “buy” rating and a $241.00 target price on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a research report on Wednesday, May 21st. UBS Group restated a “hold” rating on shares of Apple in a report on Friday. JPMorgan Chase & Co. raised their price target on shares of Apple from $230.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. Finally, Jefferies Financial Group raised shares of Apple from an “underperform” rating to a “hold” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.11.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 4,486 shares of the company’s stock in a transaction that occurred 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 approximately $3,233,815.27. This represents a 22.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevan Parekh sold 4,570 shares of the business’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the sale, the chief financial officer owned 4,569 shares in the company, valued at $941,214. The trade was a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

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.