Clay Northam Wealth Management LLC Grows Position in Apple Inc. (NASDAQ:AAPL)

Clay Northam Wealth Management LLC raised its holdings in Apple Inc. (NASDAQ:AAPL) by 1.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,409 shares of the iPhone maker’s stock after buying an additional 648 shares during the period. Apple comprises approximately 9.8% of Clay Northam Wealth Management LLC’s investment portfolio, making the stock its biggest holding. Clay Northam Wealth Management LLC’s holdings in Apple were worth $11,053,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Apple during the fourth quarter worth approximately $560,388,000. Hudson Bay Capital Management LP bought a new position in shares of Apple during the third quarter worth approximately $487,435,000. Barclays PLC increased its stake in shares of Apple by 6.0% during the third quarter. Barclays PLC now owns 49,759,061 shares of the iPhone maker’s stock worth $8,519,244,000 after purchasing an additional 2,826,709 shares during the period. Granite Bay Wealth Management LLC bought a new position in shares of Apple during the third quarter worth approximately $461,021,000. Finally, Morgan Stanley increased its stake in shares of Apple by 1.0% during the third quarter. Morgan Stanley now owns 206,732,960 shares of the iPhone maker’s stock worth $35,394,751,000 after purchasing an additional 2,018,010 shares during the period. Institutional investors own 60.41% of the company’s stock.

Apple Stock Up 1.3 %

Shares of NASDAQ:AAPL opened at $169.02 on Thursday. The firm has a market cap of $2.61 trillion, a P/E ratio of 26.33, a P/E/G ratio of 2.00 and a beta of 1.27. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. Apple Inc. has a 12-month low of $162.80 and a 12-month high of $199.62. The business has a fifty day simple moving average of $173.58 and a 200 day simple moving average of $181.94.

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

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.57%. The ex-dividend date was Friday, February 9th. Apple’s dividend payout ratio is currently 14.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AAPL shares. Monness Crespi & Hardt increased their target price on Apple from $189.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. DZ Bank reissued a “hold” rating and set a $180.00 price target on shares of Apple in a research report on Thursday, March 28th. JPMorgan Chase & Co. reduced their price target on Apple from $215.00 to $210.00 and set an “overweight” rating on the stock in a research report on Thursday, April 11th. Wedbush reissued an “outperform” rating and set a $250.00 price target on shares of Apple in a research report on Tuesday, April 9th. Finally, Robert W. Baird increased their price target on Apple from $186.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. One 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $203.05.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 54,732 shares of the firm’s 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 completion of the transaction, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the transaction, the director now directly owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Deirdre O’brien sold 54,732 shares of Apple 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 completion of the transaction, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The disclosure for this sale can be found here. Insiders sold a total of 366,271 shares of company stock valued at $63,653,887 in the last three months. Insiders own 0.06% of the company’s stock.

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.