Apple Inc. (NASDAQ:AAPL) is Palumbo Wealth Management LLC’s 6th Largest Position

Palumbo Wealth Management LLC grew its stake in Apple Inc. (NASDAQ:AAPL) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,540 shares of the iPhone maker’s stock after buying an additional 247 shares during the period. Apple makes up about 4.4% of Palumbo Wealth Management LLC’s holdings, making the stock its 6th biggest holding. Palumbo Wealth Management LLC’s holdings in Apple were worth $8,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. IFM Investors Pty Ltd lifted its holdings in shares of Apple by 20.0% in the 1st quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock worth $456,728,000 after acquiring an additional 435,891 shares during the last quarter. Ironwood Wealth Management LLC. lifted its holdings in shares of Apple by 0.4% in the 1st quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock worth $42,016,000 after acquiring an additional 1,040 shares during the last quarter. Markel Corp lifted its holdings in shares of Apple by 0.7% in the 1st quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock worth $210,752,000 after acquiring an additional 8,450 shares during the last quarter. Camden Capital LLC lifted its holdings in shares of Apple by 9.2% in the 1st quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock worth $27,305,000 after acquiring an additional 13,200 shares during the last quarter. Finally, Harbor Island Capital LLC lifted its holdings in shares of Apple by 0.3% in the 1st quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock worth $23,629,000 after acquiring an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value 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 Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Luca Maestri sold 53,194 shares of the stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total value of $9,262,139.28. Following the transaction, the chief financial officer now owns 107,788 shares in the company, valued at approximately $18,768,046.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $16,864,085.49. Following the completion of the transaction, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. Insiders have sold 366,271 shares of company stock worth $63,653,887 in the last quarter. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Rosenblatt Securities restated a “neutral” rating and issued a $189.00 price objective on shares of Apple in a report on Tuesday, March 5th. The Goldman Sachs Group upped their price target on shares of Apple from $223.00 to $232.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Citigroup reiterated a “buy” rating and set a $225.00 price target on shares of Apple in a report on Friday, February 16th. Needham & Company LLC reiterated a “buy” rating and set a $220.00 price target on shares of Apple in a report on Tuesday, April 16th. Finally, Robert W. Baird upped their price target on shares of Apple from $186.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $203.34.

Apple Price Performance

AAPL opened at $165.00 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07. The stock has a market capitalization of $2.55 trillion, a P/E ratio of 25.70, a P/E/G ratio of 2.02 and a beta of 1.27. The company’s 50-day simple moving average is $174.67 and its two-hundred day simple moving average is $182.11. Apple Inc. has a 52-week low of $162.80 and a 52-week high of $199.62.

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

Apple Announces Dividend

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

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.