Beaird Harris Wealth Management LLC Purchases 2,228 Shares of Apple Inc. (NASDAQ:AAPL)

Beaird Harris Wealth Management LLC raised its position in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 10.9% in the fourth quarter, HoldingsChannel reports. The firm owned 22,706 shares of the iPhone maker’s stock after acquiring an additional 2,228 shares during the period. Beaird Harris Wealth Management LLC’s holdings in Apple were worth $4,372,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raleigh Capital Management Inc. raised its position in shares of Apple by 11.8% in the 4th quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock worth $2,986,000 after acquiring an additional 1,643 shares in the last quarter. Headinvest LLC raised its position in shares of Apple by 1.7% in the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock worth $9,236,000 after acquiring an additional 872 shares in the last quarter. GLOBALT Investments LLC GA bought a new position in shares of Apple in the 4th quarter worth $38,406,000. Barden Capital Management Inc. raised its position in shares of Apple by 132.8% in the 4th quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after acquiring an additional 18,615 shares in the last quarter. Finally, Sound Income Strategies LLC grew its stake in Apple by 16.1% during the 4th quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock worth $14,461,000 after buying an additional 10,425 shares during the last quarter. 60.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Morgan Stanley restated an “overweight” rating and set a $216.00 target price on shares of Apple in a research note on Tuesday, June 11th. DZ Bank restated a “hold” rating and set a $180.00 target price on shares of Apple in a research note on Thursday, March 28th. Needham & Company LLC restated a “buy” rating and set a $220.00 target price on shares of Apple in a research note on Tuesday, June 11th. Loop Capital dropped their target price on Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Finally, Wedbush boosted their target price on Apple from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $207.47.

Check Out Our Latest Stock Analysis on AAPL

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the transaction, the senior vice president now directly owns 136,572 shares in the company, valued at $23,068,376.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $170.03, for a total value 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 346,270 shares of company stock valued at $60,880,196. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

Shares of Apple stock traded down $1.75 during mid-day trading on Friday, reaching $212.49. 70,122,748 shares of the stock traded hands, compared to its average volume of 64,600,812. The business has a 50-day moving average of $183.77 and a 200 day moving average of $184.04. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $220.20. The stock has a market capitalization of $3.26 trillion, a PE ratio of 33.05, a PEG ratio of 2.59 and a beta of 1.25. 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 announced its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The business had revenue of $90.75 billion during the quarter, compared to analysts’ expectations of $90.37 billion. During the same quarter in the prior year, the firm earned $1.52 earnings per share. The business’s revenue was down 4.3% compared to the same quarter last year. On average, analysts predict that Apple Inc. will post 6.58 EPS for the current year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%. This is a boost from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio is presently 15.55%.

Apple declared that its Board of Directors has authorized a stock repurchase program on Thursday, May 2nd that allows the company to repurchase $110.00 billion in shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Apple Company 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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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