Opes Wealth Management LLC Has $93.43 Million Position in Apple Inc. (NASDAQ:AAPL)

Opes Wealth Management LLC raised its holdings in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 50.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 485,297 shares of the iPhone maker’s stock after purchasing an additional 161,668 shares during the quarter. Apple accounts for about 22.4% of Opes Wealth Management LLC’s portfolio, making the stock its largest position. Opes Wealth Management LLC’s holdings in Apple were worth $93,434,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of AAPL. International Assets Investment Management LLC lifted its position in Apple by 14,395.4% during the fourth quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock valued at $136,119,470,000 after purchasing an additional 70,212,651 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Apple by 130.1% in the fourth quarter. Cerity Partners LLC now owns 9,430,190 shares of the iPhone maker’s stock valued at $1,815,594,000 after acquiring an additional 5,331,439 shares during the period. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Apple in the fourth quarter valued at $560,388,000. Hudson Bay Capital Management LP purchased a new stake in shares of Apple in the third quarter valued at $487,435,000. Finally, Barclays PLC raised its stake in shares of Apple by 6.0% in the third quarter. Barclays PLC now owns 49,759,061 shares of the iPhone maker’s stock valued at $8,519,244,000 after acquiring an additional 2,826,709 shares during the period. Institutional investors own 60.41% of the company’s stock.

Apple Price Performance

Apple stock opened at $189.87 on Friday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $199.62. The firm has a market capitalization of $2.91 trillion, a price-to-earnings ratio of 29.53, a PEG ratio of 2.28 and a beta of 1.26. The company has a fifty day simple moving average of $174.13 and a 200-day simple moving average of $182.61. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPLGet Free Report) last released its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The business had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. During the same quarter in the prior year, the firm earned $1.52 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, equities analysts anticipate that Apple Inc. will post 6.57 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were issued a $0.25 dividend. The ex-dividend date was Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.53%. This is a positive change from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio is currently 15.55%.

Apple declared that its Board of Directors has authorized a stock buyback program on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

AAPL has been the topic of several recent analyst reports. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $196.00 price target (up previously from $189.00) on shares of Apple in a research note on Friday, May 3rd. UBS Group reiterated a “hold” rating and set a $190.00 target price on shares of Apple in a report on Monday, March 25th. Bank of America increased their target price on shares of Apple from $225.00 to $230.00 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 target price on shares of Apple in a report on Friday, May 3rd. Finally, Canaccord Genuity Group increased their target price on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $204.71.

View Our Latest Analysis on AAPL

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,999 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total value of $951,809.60. Following the completion of the sale, the insider now owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the transaction, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Chris Kondo sold 4,999 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total transaction of $951,809.60. Following the transaction, the insider now directly owns 29,278 shares of the company’s stock, valued at approximately $5,574,531.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 371,270 shares of company stock valued at $64,605,696. 0.06% of the stock is owned by company insiders.

About Apple

(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.

Further Reading

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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