Apple Inc. (NASDAQ:AAPL) Stock Holdings Decreased by Hemington Wealth Management

Hemington Wealth Management lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 147,699 shares of the iPhone maker’s stock after selling 675 shares during the quarter. Apple accounts for 11.0% of Hemington Wealth Management’s portfolio, making the stock its 2nd biggest holding. Hemington Wealth Management’s holdings in Apple were worth $28,436,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Wyrmwood Management LLC increased its position in shares of Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after acquiring an additional 69 shares during the period. Gilfoyle & Co LLC increased its holdings in Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares during the period. PayPay Securities Corp raised its position in Apple by 70.2% during the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock valued at $87,000 after purchasing an additional 210 shares in the last quarter. Cordant Inc. lifted its holdings in shares of Apple by 27.7% in the 3rd quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock worth $110,000 after buying an additional 140 shares during the period. Finally, Life Planning Partners Inc bought a new position in shares of Apple during the 4th quarter worth $132,000. Institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

AAPL opened at $183.38 on Friday. The firm’s fifty day simple moving average is $172.17 and its two-hundred day simple moving average is $181.60. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $199.62. The company has a market cap of $2.83 trillion, a price-to-earnings ratio of 28.52, a PEG ratio of 2.09 and a beta of 1.26. 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 (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 153.25%. The firm had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. During the same period last year, the company posted $1.52 EPS. Apple’s quarterly revenue was down 4.3% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post 6.53 earnings per share for the current fiscal year.

Apple declared that its Board of Directors has approved a share repurchase program on Thursday, May 2nd that permits the company to buyback $110.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 13th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.55%. This is a boost from Apple’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, May 10th. Apple’s payout ratio is presently 14.93%.

Insider Activity at Apple

In other Apple news, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the sale, the senior vice president now owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Apple news, SVP Deirdre O’brien sold 54,732 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the transaction, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The disclosure for this sale can be found here. In the last ninety days, insiders sold 366,271 shares of company stock valued at $63,653,887. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AAPL. Piper Sandler lowered their price objective on shares of Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a research note on Friday, February 2nd. Canaccord Genuity Group increased their price objective on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Saturday. Itau BBA Securities raised shares of Apple from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $162.00 to $188.00 in a research note on Friday. Barclays increased their target price on Apple from $158.00 to $164.00 and gave the company an “underweight” rating in a research report on Friday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $220.00 price target on shares of Apple in a research report on Friday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $204.00.

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.