Jupiter Wealth Management LLC Acquires 1,237 Shares of Apple Inc. (NASDAQ:AAPL)

Jupiter Wealth Management LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 60,429 shares of the iPhone maker’s stock after acquiring an additional 1,237 shares during the period. Apple accounts for about 7.6% of Jupiter Wealth Management LLC’s investment portfolio, making the stock its 2nd largest holding. Jupiter Wealth Management LLC’s holdings in Apple were worth $15,133,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Orin Green Financial LLC boosted its holdings in shares of Apple by 18.2% in the 4th quarter. Orin Green Financial LLC now owns 13,325 shares of the iPhone maker’s stock valued at $3,337,000 after purchasing an additional 2,050 shares during the last quarter. ARQ Wealth Advisors LLC boosted its holdings in shares of Apple by 10.5% in the 4th quarter. ARQ Wealth Advisors LLC now owns 22,686 shares of the iPhone maker’s stock valued at $5,681,000 after purchasing an additional 2,158 shares during the last quarter. Blue Sky Capital Consultants Group Inc. acquired a new position in shares of Apple in the 4th quarter valued at $8,297,000. Three Cord True Wealth Management LLC acquired a new position in shares of Apple in the 4th quarter valued at $662,000. Finally, Warm Springs Advisors Inc. acquired a new position in shares of Apple in the 4th quarter valued at $8,444,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity

In other news, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the transaction, the chief operating officer now directly owns 390,059 shares of the company’s stock, valued at approximately $87,377,116.59. The trade was a 8.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider now directly owns 15,533 shares of the company’s stock, valued at $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 191,507 shares of company stock valued at $42,694,080. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL opened at $196.58 on Thursday. The company has a 50-day moving average of $202.17 and a 200-day moving average of $222.30. The company has a market capitalization of $2.94 trillion, a P/E ratio of 30.62, a PEG ratio of 2.18 and a beta of 1.22. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.03. The company had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.53 EPS. Equities analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple declared that its board has approved a stock buyback plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.53%. This is an increase from Apple’s previous quarterly dividend of $0.25. Apple’s payout ratio is presently 16.20%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of research analyst reports. DA Davidson lifted their price target on shares of Apple from $230.00 to $250.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Jefferies Financial Group restated an “underperform” rating and set a $170.62 target price (up previously from $167.88) on shares of Apple in a report on Friday, May 2nd. Wedbush restated an “outperform” rating and set a $270.00 target price on shares of Apple in a report on Tuesday, June 10th. Rosenblatt Securities lowered shares of Apple from a “buy” rating to a “neutral” rating and set a $217.00 target price on the stock. in a report on Friday, May 2nd. Finally, UBS Group restated a “buy” rating on shares of Apple in a report on Sunday, June 1st. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $234.86.

Apple 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.