47,827 Shares in Apple Inc. (NASDAQ:AAPL) Bought by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Apple Inc. (NASDAQ:AAPL) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 47,827 shares of the iPhone maker’s stock, valued at approximately $9,208,000. Apple accounts for 2.7% of Turtle Creek Wealth Advisors LLC’s holdings, making the stock its 7th largest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Conservest Capital Advisors Inc. increased its stake in Apple by 0.3% during the 3rd quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock valued at $2,877,000 after purchasing an additional 55 shares in the last quarter. High Pines Wealth Management LLC grew its holdings in shares of Apple by 0.7% during the fourth quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock valued at $1,638,000 after buying an additional 58 shares during the last quarter. Kraft Davis & Associates LLC increased its position in shares of Apple by 0.9% during the third quarter. Kraft Davis & Associates LLC now owns 6,716 shares of the iPhone maker’s stock valued at $1,155,000 after acquiring an additional 59 shares in the last quarter. Asset Planning Corporation raised its holdings in Apple by 1.0% in the 4th quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock worth $1,181,000 after acquiring an additional 59 shares during the last quarter. Finally, Columbus Macro LLC lifted its position in Apple by 0.5% in the 4th quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock valued at $2,120,000 after acquiring an additional 59 shares in the last quarter. 60.41% of the stock is owned by institutional investors.

Apple Stock Up 6.0 %

AAPL opened at $183.38 on Friday. The company has a market capitalization of $2.83 trillion, a PE ratio of 28.56, a price-to-earnings-growth ratio of 2.05 and a beta of 1.26. The firm has a 50-day simple moving average of $172.15 and a two-hundred day simple moving average of $181.57. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $199.62.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, beating the consensus estimate of $1.51 by $0.02. The business had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. Apple’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.52 earnings per share. Analysts forecast that Apple Inc. will post 6.53 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 13th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.55%. This is a positive change from Apple’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, May 10th. Apple’s dividend payout ratio (DPR) is presently 14.95%.

Apple announced that its board has authorized a stock repurchase program on Thursday, May 2nd that allows the company to buyback $110.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of research analyst reports. UBS Group reissued a “hold” rating and issued a $190.00 target price on shares of Apple in a report on Monday, March 25th. Sanford C. Bernstein raised Apple from a “market perform” rating to an “outperform” rating and set a $195.00 target price for the company in a research report on Monday, April 29th. Citigroup lowered their target price on shares of Apple from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Monness Crespi & Hardt boosted their price objective on shares of Apple from $200.00 to $205.00 and gave the company a “buy” rating in a report on Friday. Finally, DZ Bank restated a “hold” rating and set a $180.00 price objective on shares of Apple in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average price target of $203.72.

Insider Transactions at Apple

In related news, SVP Deirdre O’brien sold 54,732 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the sale, the senior vice president now directly owns 136,572 shares in the company, valued at $23,068,376.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Apple news, CFO Luca Maestri sold 53,194 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the transaction, the chief financial officer now owns 107,788 shares in the company, valued at $18,768,046.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the sale, the senior vice president now owns 136,572 shares in the company, valued at $23,068,376.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 366,271 shares of company stock worth $63,653,887. 0.06% of the stock is currently owned by company insiders.

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.