Allegiance Financial Group Advisory Services LLC Raises Stock Position in Apple Inc. (NASDAQ:AAPL)

Allegiance Financial Group Advisory Services LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,692 shares of the iPhone maker’s stock after buying an additional 328 shares during the period. Apple makes up approximately 1.3% of Allegiance Financial Group Advisory Services LLC’s holdings, making the stock its 20th largest holding. Allegiance Financial Group Advisory Services LLC’s holdings in Apple were worth $2,829,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Wyrmwood Management LLC grew its position in shares of Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after purchasing an additional 69 shares during the last quarter. Atlantic Private Wealth LLC acquired a new stake in shares of Apple in the first quarter valued at approximately $30,000. Gilfoyle & Co LLC grew its position in shares of Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after purchasing an additional 118 shares during the last quarter. Cheyne Capital Management UK LLP grew its position in shares of Apple by 200.0% in the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock valued at $212,000 after purchasing an additional 550 shares during the last quarter. Finally, HBC Financial Services PLLC boosted its position in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after acquiring an additional 80 shares during the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O’brien sold 54,732 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the transaction, the senior vice president now owns 136,572 shares in the company, valued at approximately $23,068,376.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the transaction, the senior vice president now owns 136,572 shares in the company, valued at approximately $23,068,376.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 366,271 shares of company stock worth $63,653,887. 0.06% of the stock is currently owned by company insiders.

Apple Stock Down 1.2 %

AAPL stock opened at $165.00 on Friday. Apple Inc. has a 12 month low of $162.80 and a 12 month high of $199.62. The firm has a market cap of $2.55 trillion, a PE ratio of 25.70, a P/E/G ratio of 2.03 and a beta of 1.27. The firm has a 50 day simple moving average of $174.67 and a 200 day simple moving average of $182.04. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, beating the consensus estimate of $2.09 by $0.09. The business had revenue of $119.60 billion during the quarter, compared to the consensus estimate of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.88 EPS. Equities research analysts forecast that Apple Inc. will post 6.54 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were given a $0.24 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.96 annualized dividend and a dividend yield of 0.58%. Apple’s dividend payout ratio (DPR) is presently 14.95%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Piper Sandler Companies lowered shares of Apple to a “neutral” rating and decreased their target price for the stock from $220.00 to $205.00 in a research report on Thursday, January 4th. Citigroup restated a “buy” rating and set a $225.00 target price on shares of Apple in a research report on Friday, February 16th. UBS Group reiterated a “hold” rating and issued a $190.00 price target on shares of Apple in a report on Monday, March 25th. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 price target on shares of Apple in a report on Tuesday. Finally, Piper Sandler decreased their price target on shares of Apple from $205.00 to $190.00 and set a “neutral” rating on the stock in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $203.34.

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.