Apple Inc. (NASDAQ:AAPL) is Geneos Wealth Management Inc.’s 5th Largest Position

Geneos Wealth Management Inc. cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 11.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 182,348 shares of the iPhone maker’s stock after selling 24,676 shares during the quarter. Apple accounts for approximately 1.7% of Geneos Wealth Management Inc.’s holdings, making the stock its 5th biggest holding. Geneos Wealth Management Inc.’s holdings in Apple were worth $35,107,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AAPL. Headinvest LLC increased its stake in 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 purchasing an additional 872 shares during the period. Sound Income Strategies LLC grew its holdings in shares of Apple by 16.1% in the fourth quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock worth $14,461,000 after purchasing an additional 10,425 shares during the last quarter. DNB Asset Management AS grew its holdings in shares of Apple by 6.9% in the fourth quarter. DNB Asset Management AS now owns 4,307,068 shares of the iPhone maker’s stock worth $829,240,000 after purchasing an additional 279,311 shares during the last quarter. Boltwood Capital Management increased its stake in shares of Apple by 2.8% in the fourth quarter. Boltwood Capital Management now owns 37,178 shares of the iPhone maker’s stock worth $7,158,000 after buying an additional 1,021 shares during the period. Finally, Private Wealth Partners LLC raised its holdings in Apple by 3.8% during the 3rd quarter. Private Wealth Partners LLC now owns 673,349 shares of the iPhone maker’s stock valued at $115,284,000 after buying an additional 24,634 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Deirdre O’brien sold 54,732 shares of the firm’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 sale, the senior vice president now owns 136,572 shares in the company, valued at $23,068,376.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Luca Maestri sold 53,194 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the transaction, the chief financial officer now owns 107,788 shares in the company, valued at approximately $18,768,046.56. The disclosure for this sale can be found here. Insiders sold 366,271 shares of company stock valued at $63,653,887 over the last three months. Insiders own 0.06% of the company’s stock.

Apple Stock Up 6.0 %

Shares of Apple stock opened at $183.38 on Monday. The company has a 50-day simple moving average of $172.17 and a two-hundred day simple moving average of $181.67. The stock has a market capitalization of $2.83 trillion, a PE ratio of 28.52, a price-to-earnings-growth ratio of 2.22 and a beta of 1.26. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $199.62. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 153.25%. The company had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. During the same period in the previous year, the business earned $1.52 EPS. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, analysts anticipate that Apple Inc. will post 6.54 EPS for the current fiscal year.

Apple announced that its board has initiated a share buyback plan on Thursday, May 2nd that allows the company to buyback $110.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 13th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Friday, May 10th. This is an increase from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio (DPR) is presently 14.93%.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of analyst reports. Itau BBA Securities upgraded shares of Apple from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $162.00 to $188.00 in a research report on Friday. Barclays boosted their price target on Apple from $158.00 to $164.00 and gave the company an “underweight” rating in a report on Friday. Citigroup dropped their price objective on Apple from $220.00 to $210.00 and set a “buy” rating for the company in a report on Monday, April 29th. Monness Crespi & Hardt boosted their target price on Apple from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Friday. Finally, Redburn Partners lowered Apple to a “neutral” rating and set a $200.00 price target for the company. in a research note on Wednesday, January 10th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average target price of $204.11.

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.