Clay Northam Wealth Management LLC Boosts Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Clay Northam Wealth Management LLC boosted its stake in Apple Inc. (NASDAQ:AAPL) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 57,409 shares of the iPhone maker’s stock after buying an additional 648 shares during the period. Apple accounts for approximately 9.8% of Clay Northam Wealth Management LLC’s portfolio, making the stock its largest position. Clay Northam Wealth Management LLC’s holdings in Apple were worth $11,053,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Cullinan Associates Inc. lifted its holdings in shares of Apple by 6.3% during the third quarter. Cullinan Associates Inc. now owns 784,520 shares of the iPhone maker’s stock valued at $134,318,000 after purchasing an additional 46,216 shares during the last quarter. Ronald Blue Trust Inc. lifted its holdings in shares of Apple by 4.3% during the third quarter. Ronald Blue Trust Inc. now owns 143,501 shares of the iPhone maker’s stock valued at $24,569,000 after purchasing an additional 5,981 shares during the last quarter. Platte River Wealth Advisors LLC lifted its holdings in shares of Apple by 1.1% during the third quarter. Platte River Wealth Advisors LLC now owns 62,407 shares of the iPhone maker’s stock valued at $10,685,000 after purchasing an additional 697 shares during the last quarter. Polaris Wealth Advisory Group LLC lifted its holdings in shares of Apple by 77.3% during the third quarter. Polaris Wealth Advisory Group LLC now owns 322,877 shares of the iPhone maker’s stock valued at $55,280,000 after purchasing an additional 140,750 shares during the last quarter. Finally, Independent Wealth Network Inc. lifted its holdings in shares of Apple by 0.9% during the third quarter. Independent Wealth Network Inc. now owns 19,813 shares of the iPhone maker’s stock valued at $3,392,000 after purchasing an additional 178 shares during the last quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AAPL shares. Piper Sandler lowered their target price on shares of Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. Redburn Atlantic lowered shares of Apple from a “buy” rating to a “neutral” rating and set a $200.00 target price for the company. in a report on Wednesday, January 10th. DZ Bank reiterated a “hold” rating and set a $180.00 target price on shares of Apple in a report on Thursday, March 28th. Redburn Partners downgraded shares of Apple to a “neutral” rating and set a $200.00 price target for the company. in a research report on Wednesday, January 10th. Finally, Piper Sandler Companies downgraded shares of Apple to a “neutral” rating and reduced their price target for the company from $220.00 to $205.00 in a research report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $203.05.

Insider Activity at Apple

In related news, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the transaction, the director now owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the sale, the director now owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 99,183 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. In the last quarter, insiders have sold 366,271 shares of company stock worth $63,653,887. 0.06% of the stock is owned by corporate insiders.

Apple Stock Up 1.3 %

AAPL opened at $169.02 on Thursday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07. Apple Inc. has a fifty-two week low of $162.80 and a fifty-two week high of $199.62. The firm’s fifty day moving average is $173.58 and its 200 day moving average is $181.94. The stock has a market cap of $2.61 trillion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 2.00 and a beta of 1.27.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.09. Apple had a net margin of 26.16% and a return on equity of 156.04%. The company had revenue of $119.60 billion for the quarter, compared to analysts’ expectations of $117.99 billion. During the same quarter in the previous year, the company earned $1.88 EPS. Apple’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, sell-side analysts forecast that Apple Inc. will post 6.54 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s dividend payout ratio (DPR) is 14.95%.

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.