Apple Inc. (NASDAQ:AAPL) Shares Purchased by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC lifted its stake in Apple Inc. (NASDAQ:AAPLFree Report) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 208,718 shares of the iPhone maker’s stock after purchasing an additional 12,264 shares during the period. Apple makes up 7.1% of Octavia Wealth Advisors LLC’s investment portfolio, making the stock its largest holding. Octavia Wealth Advisors LLC’s holdings in Apple were worth $40,184,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Buffington Mohr McNeal raised its position in Apple by 7.2% during the fourth quarter. Buffington Mohr McNeal now owns 49,809 shares of the iPhone maker’s stock worth $9,590,000 after acquiring an additional 3,353 shares during the last quarter. Independent Family Office LLC raised its position in Apple by 4.7% during the fourth quarter. Independent Family Office LLC now owns 6,285 shares of the iPhone maker’s stock worth $1,210,000 after acquiring an additional 280 shares during the last quarter. Suncoast Equity Management raised its position in Apple by 1.1% during the fourth quarter. Suncoast Equity Management now owns 298,046 shares of the iPhone maker’s stock worth $57,383,000 after acquiring an additional 3,222 shares during the last quarter. DGS Capital Management LLC raised its position in Apple by 4.1% during the fourth quarter. DGS Capital Management LLC now owns 45,071 shares of the iPhone maker’s stock worth $8,677,000 after acquiring an additional 1,777 shares during the last quarter. Finally, United Asset Strategies Inc. raised its position in Apple by 6.7% during the fourth quarter. United Asset Strategies Inc. now owns 156,036 shares of the iPhone maker’s stock worth $30,042,000 after acquiring an additional 9,795 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Trading Up 0.6 %

NASDAQ AAPL opened at $187.43 on Wednesday. The company’s fifty day simple moving average is $172.57 and its 200-day simple moving average is $182.15. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $199.62. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The stock has a market cap of $2.87 trillion, a P/E ratio of 29.15, a PEG ratio of 2.20 and a beta of 1.26.

Apple (NASDAQ:AAPLGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. The firm had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.52 earnings per share. Equities research analysts predict that Apple Inc. will post 6.57 EPS for the current fiscal year.

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

Apple Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 13th will be issued a $0.25 dividend. The ex-dividend date is Friday, May 10th. This is a boost from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 0.53%. Apple’s dividend payout ratio is currently 15.55%.

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arthur D. Levinson sold 100,000 shares of the company’s 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 completion of the sale, the director now directly owns 4,434,576 shares in the company, valued at $802,392,181.44. The disclosure for this sale can be found here. Insiders have sold 366,271 shares of company stock valued at $63,653,887 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of research reports. Barclays lifted their target price on shares of Apple from $158.00 to $164.00 and gave the stock an “underweight” rating in a research report on Friday, May 3rd. Canaccord Genuity Group lifted their price target on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Needham & Company LLC reiterated a “buy” rating and set a $220.00 price target on shares of Apple in a report on Friday, May 3rd. Piper Sandler lowered their price target 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. Finally, Wedbush reiterated an “outperform” rating and set a $250.00 price target on shares of Apple in a report on Monday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $204.11.

Get Our Latest Stock Report on AAPL

Apple Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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