Apple Inc. (NASDAQ:AAPL) Shares Purchased by MGB Wealth Management LLC

MGB Wealth Management LLC increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 7.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,110 shares of the iPhone maker’s stock after buying an additional 2,282 shares during the quarter. Apple accounts for approximately 2.4% of MGB Wealth Management LLC’s holdings, making the stock its 7th largest holding. MGB Wealth Management LLC’s holdings in Apple were worth $7,801,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AAPL. AMF Tjanstepension AB lifted its position in Apple by 21.1% in the 3rd quarter. AMF Tjanstepension AB now owns 3,380,064 shares of the iPhone maker’s stock valued at $787,631,000 after acquiring an additional 588,427 shares in the last quarter. Latitude Advisors LLC raised its stake in shares of Apple by 0.3% in the 3rd quarter. Latitude Advisors LLC now owns 17,236 shares of the iPhone maker’s stock valued at $4,016,000 after purchasing an additional 50 shares during the period. Integrity Financial Corp WA lifted its holdings in shares of Apple by 18.8% in the third quarter. Integrity Financial Corp WA now owns 32,980 shares of the iPhone maker’s stock valued at $7,684,000 after purchasing an additional 5,225 shares in the last quarter. Trellis Wealth Advisors LLC grew its holdings in shares of Apple by 67.9% during the third quarter. Trellis Wealth Advisors LLC now owns 6,865 shares of the iPhone maker’s stock worth $1,600,000 after buying an additional 2,777 shares in the last quarter. Finally, Telos Capital Management Inc. raised its position in Apple by 0.7% in the 3rd quarter. Telos Capital Management Inc. now owns 233,615 shares of the iPhone maker’s stock valued at $54,432,000 after buying an additional 1,678 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity

In other news, SVP Katherine L. Adams sold 38,822 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the transaction, the senior vice president now directly owns 179,158 shares in the company, valued at approximately $40,072,269.86. This represents a 17.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of the business’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the sale, the chief executive officer now owns 3,280,295 shares in the company, valued at $733,637,976.75. This represents a 3.19 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 182,451 shares of company stock worth $40,818,720. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AAPL. KeyCorp upgraded shares of Apple from an “underweight” rating to a “sector weight” rating in a research note on Monday. Citigroup reduced their price target on Apple from $275.00 to $245.00 and set a “buy” rating for the company in a report on Monday. Needham & Company LLC restated a “buy” rating and issued a $225.00 price objective on shares of Apple in a research note on Monday. Evercore ISI lifted their target price on Apple from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 18th. Finally, Maxim Group boosted their target price on Apple to $215.00 and gave the stock a “hold” rating in a report on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $235.85.

Apple Stock Performance

NASDAQ AAPL opened at $194.27 on Thursday. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10. The firm has a market capitalization of $2.92 trillion, a price-to-earnings ratio of 30.84, a P/E/G ratio of 2.44 and a beta of 1.26. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The firm’s 50 day simple moving average is $220.98 and its 200 day simple moving average is $230.53.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. As a group, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.51%. Apple’s dividend payout ratio (DPR) is currently 15.87%.

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.