White Wing Wealth Management Invests $1.46 Million in Apple Inc. (NASDAQ:AAPL)

White Wing Wealth Management acquired a new stake in Apple Inc. (NASDAQ:AAPL) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,888 shares of the iPhone maker’s stock, valued at approximately $1,464,000. Apple comprises 1.3% of White Wing Wealth Management’s investment portfolio, making the stock its 13th largest position.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Headinvest LLC lifted its position in shares of Apple by 1.7% during the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock valued at $9,236,000 after buying an additional 872 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in Apple by 16.1% during the fourth quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock valued at $14,461,000 after purchasing an additional 10,425 shares during the last quarter. DNB Asset Management AS boosted its position in Apple by 6.9% during 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 period. 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 purchasing an additional 1,021 shares in the last quarter. Finally, Private Wealth Partners LLC raised its position in shares of Apple by 3.8% in the third quarter. Private Wealth Partners LLC now owns 673,349 shares of the iPhone maker’s stock valued at $115,284,000 after purchasing an additional 24,634 shares during the period. 60.41% of the stock is owned by institutional investors.

Apple Stock Up 6.0 %

AAPL opened at $183.38 on Friday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $199.62. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28. The business’s 50-day moving average price is $172.15 and its 200-day moving average price is $181.57. The company has a market cap of $2.83 trillion, a P/E ratio of 28.56, a P/E/G ratio of 2.05 and a beta of 1.26.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. Apple had a return on equity of 156.04% and a net margin of 26.16%. The business had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. During the same period last year, the company earned $1.52 EPS. Apple’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, equities analysts expect that Apple Inc. will post 6.53 EPS for the current year.

Apple declared that its Board of Directors has initiated a share buyback plan on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 13th will be issued a dividend of $0.25 per share. This is a positive change from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Friday, May 10th. Apple’s dividend payout ratio is currently 14.95%.

Insider Buying and Selling at Apple

In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 4,434,576 shares in the company, valued at $802,392,181.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Apple news, 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 value of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Arthur D. Levinson sold 100,000 shares of the business’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 transaction, the director now directly owns 4,434,576 shares in the company, valued at $802,392,181.44. The disclosure for this sale can be found here. Insiders sold 366,271 shares of company stock valued at $63,653,887 in the last quarter. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. UBS Group reaffirmed a “hold” rating and issued a $190.00 price objective on shares of Apple in a report on Monday, March 25th. Robert W. Baird raised their price target on Apple from $186.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Monness Crespi & Hardt boosted their price objective on Apple from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Friday. Redburn Atlantic downgraded Apple from a “buy” rating to a “neutral” rating and set a $200.00 target price for the company. in a research note on Wednesday, January 10th. Finally, DZ Bank reaffirmed a “hold” rating and set a $180.00 target price on shares of Apple in a report on Thursday, March 28th. One 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $203.72.

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.