Ullmann Wealth Partners Group LLC Has $5.70 Million Stake in Apple Inc. (NASDAQ:AAPL)

Ullmann Wealth Partners Group LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 8.3% in the 1st quarter, Holdings Channel reports. The firm owned 25,673 shares of the iPhone maker’s stock after selling 2,313 shares during the quarter. Apple comprises approximately 0.8% of Ullmann Wealth Partners Group LLC’s investment portfolio, making the stock its 22nd biggest position. Ullmann Wealth Partners Group LLC’s holdings in Apple were worth $5,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Regent Peak Wealth Advisors LLC grew its holdings in shares of Apple by 0.9% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 111,858 shares of the iPhone maker’s stock worth $28,012,000 after purchasing an additional 1,050 shares during the last quarter. Tallon Kerry Patrick bought a new position in Apple during the 4th quarter valued at about $1,877,000. First National Bank of Hutchinson boosted its position in Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after buying an additional 6,982 shares in the last quarter. Capital & Planning LLC grew its stake in Apple by 10.7% during the fourth quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker’s stock worth $6,836,000 after buying an additional 2,647 shares during the last quarter. Finally, Kera Capital Partners Inc. acquired a new stake in shares of Apple during the fourth quarter worth approximately $2,817,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AAPL shares. Scotiabank cut shares of Apple to a “market perform” rating in a research note on Friday, May 2nd. Tigress Financial raised their price target on Apple from $295.00 to $300.00 and gave the company a “strong-buy” rating in a report on Thursday, April 3rd. Barclays set a $173.00 price objective on Apple and gave the company an “underweight” rating in a research report on Tuesday, June 24th. KeyCorp upgraded Apple from an “underweight” rating to a “sector weight” rating in a report on Monday, April 14th. Finally, China Renaissance started coverage on Apple in a research note on Tuesday, April 22nd. They issued a “buy” rating and a $241.00 target price for the company. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $234.95.

Insider Transactions at Apple

In other Apple news, insider Chris Kondo sold 4,486 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider owned 15,533 shares of the company’s stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the sale, the chief financial officer owned 4,569 shares in the company, valued at approximately $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $213.36 on Friday. The firm has a fifty day moving average of $203.26 and a two-hundred day moving average of $219.14. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The stock has a market capitalization of $3.19 trillion, a price-to-earnings ratio of 33.23, a PEG ratio of 2.37 and a beta of 1.20. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter in the prior year, the company posted $1.53 earnings per share. The firm’s revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

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 dividend of $0.26 per share. This is a positive change from Apple’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. Apple’s payout ratio is presently 16.20%.

Apple announced that its board has approved a share buyback plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

About Apple

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.