Stone Point Wealth LLC Sells 799 Shares of Apple Inc. (NASDAQ:AAPL)

Stone Point Wealth LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 3.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,423 shares of the iPhone maker’s stock after selling 799 shares during the quarter. Apple accounts for about 1.5% of Stone Point Wealth LLC’s holdings, making the stock its 14th largest position. Stone Point Wealth LLC’s holdings in Apple were worth $3,932,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Wyrmwood Management LLC boosted its stake in Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after buying an additional 69 shares in the last quarter. Gilfoyle & Co LLC increased its position in shares of Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares in the last quarter. PayPay Securities Corp lifted its holdings in Apple by 70.2% during the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock valued at $87,000 after purchasing an additional 210 shares during the last quarter. Cordant Inc. boosted its position in Apple by 27.7% in the third quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock valued at $110,000 after buying an additional 140 shares in the last quarter. Finally, Life Planning Partners Inc bought a new stake in Apple during the fourth quarter worth about $132,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Trading Up 6.0 %

AAPL opened at $183.38 on Monday. The company has a 50-day simple moving average of $172.17 and a 200 day simple moving average of $181.67. The stock has a market capitalization of $2.83 trillion, a price-to-earnings ratio of 28.52, a P/E/G ratio of 2.22 and a beta of 1.26. 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 twelve month low of $164.07 and a twelve month high of $199.62.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. Apple had a return on equity of 153.25% and a net margin of 26.31%. The firm had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. During the same quarter last year, the business posted $1.52 EPS. The company’s revenue was down 4.3% compared to the same quarter last year. Analysts predict that Apple Inc. will post 6.54 EPS for the current fiscal year.

Apple Increases Dividend

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

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AAPL. Canaccord Genuity Group boosted their target price on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday. Needham & Company LLC restated a “buy” rating and issued a $220.00 target price on shares of Apple in a research note on Friday. Redburn Atlantic lowered shares of Apple from a “buy” rating to a “neutral” rating and set a $200.00 price objective on the stock. in a report on Wednesday, January 10th. The Goldman Sachs Group boosted their price objective on shares of Apple from $223.00 to $232.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Wedbush restated an “outperform” rating and set a $250.00 target price on shares of Apple in a research report on Friday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $204.11.

Insider Transactions at Apple

In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the sale, the director now owns 4,434,576 shares in the company, valued at $802,392,181.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Arthur D. Levinson sold 100,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the sale, the director now directly owns 4,434,576 shares in the company, valued at $802,392,181.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Luca Maestri sold 53,194 shares of Apple 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 sale, the chief financial officer now owns 107,788 shares in the company, valued at $18,768,046.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 366,271 shares of company stock valued at $63,653,887. 0.06% of the stock is currently owned by insiders.

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.