Schrum Private Wealth Management LLC Has $2.08 Million Stake in Apple Inc. (NASDAQ:AAPL)

Schrum Private Wealth Management LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 59.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,794 shares of the iPhone maker’s stock after selling 16,097 shares during the period. Apple comprises 2.9% of Schrum Private Wealth Management LLC’s investment portfolio, making the stock its 5th biggest holding. Schrum Private Wealth Management LLC’s holdings in Apple were worth $2,078,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Wyrmwood Management LLC grew its stake in shares of Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after acquiring an additional 69 shares in the last quarter. Gilfoyle & Co LLC grew its holdings 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 acquiring an additional 118 shares in the last quarter. PayPay Securities Corp increased its position in shares of Apple by 70.2% during the third quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock valued at $87,000 after acquiring an additional 210 shares during the last quarter. Cordant Inc. lifted its holdings in Apple by 27.7% during the third quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock worth $110,000 after acquiring an additional 140 shares during the period. Finally, Life Planning Partners Inc purchased a new position in Apple in the fourth quarter worth $132,000. Institutional investors own 60.41% of the company’s stock.

Insider Transactions at Apple

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 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 directly owns 136,572 shares in the company, valued at approximately $23,068,376.52. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other 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 transaction, the senior vice president now 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 can be accessed through the SEC website. Also, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the sale, the director now owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 366,271 shares of company stock worth $63,653,887. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on AAPL. Rosenblatt Securities reiterated a “neutral” rating and set a $196.00 target price (up from $189.00) on shares of Apple in a research note on Friday. UBS Group reiterated a “hold” rating and issued a $190.00 target price on shares of Apple in a research note on Monday, March 25th. Redburn Partners lowered shares of Apple to a “neutral” rating and set a $200.00 price target for the company. in a research note on Wednesday, January 10th. Canaccord Genuity Group increased their price objective on Apple from $200.00 to $215.00 and gave the company a “buy” rating in a report on Saturday. Finally, Wedbush restated an “outperform” rating and issued a $250.00 target price on shares of Apple in a research note on Friday. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $204.00.

Apple Trading Up 6.0 %

Shares of AAPL stock opened at $183.38 on Friday. The business has a 50-day moving average price of $172.17 and a two-hundred day moving average price of $181.60. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $199.62. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. The firm has a market cap of $2.83 trillion, a P/E ratio of 28.52, a price-to-earnings-growth ratio of 2.09 and a beta of 1.26.

Apple (NASDAQ:AAPL) last released its earnings results 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. The company had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. Apple had a return on equity of 153.25% and a net margin of 26.31%. Apple’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.52 EPS. Equities analysts anticipate that Apple Inc. will post 6.53 EPS for the current fiscal year.

Apple announced that its board has initiated a stock buyback program on Thursday, May 2nd that allows the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Apple Increases Dividend

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

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.