Wealth Management Resources Inc. Raises Holdings in Apple Inc. (NASDAQ:AAPL)

Wealth Management Resources Inc. grew its position in Apple Inc. (NASDAQ:AAPL) by 12.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,557 shares of the iPhone maker’s stock after buying an additional 807 shares during the quarter. Apple accounts for 0.7% of Wealth Management Resources Inc.’s holdings, making the stock its 24th largest holding. Wealth Management Resources Inc.’s holdings in Apple were worth $1,455,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AAPL. Conservest Capital Advisors Inc. raised its position in Apple by 0.3% during the third quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock valued at $2,877,000 after acquiring an additional 55 shares in the last quarter. High Pines Wealth Management LLC raised its position in Apple by 0.7% during the fourth quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock valued at $1,638,000 after acquiring an additional 58 shares in the last quarter. Kraft Davis & Associates LLC raised its position in Apple by 0.9% during the third quarter. Kraft Davis & Associates LLC now owns 6,716 shares of the iPhone maker’s stock valued at $1,155,000 after acquiring an additional 59 shares in the last quarter. Asset Planning Corporation increased its position in shares of Apple by 1.0% in the fourth quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock valued at $1,181,000 after buying an additional 59 shares in the last quarter. Finally, Columbus Macro LLC increased its position in shares of Apple by 0.5% in the fourth quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock valued at $2,120,000 after buying an additional 59 shares in the last quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Citigroup restated a “buy” rating and issued a $225.00 price objective on shares of Apple in a research report on Friday, February 16th. Morgan Stanley reaffirmed an “overweight” rating and issued a $220.00 price target on shares of Apple in a research note on Friday, March 22nd. Monness Crespi & Hardt lifted their price target on Apple from $189.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. DA Davidson assumed coverage on Apple in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $166.00 price target on the stock. Finally, DZ Bank reaffirmed a “hold” rating and issued a $180.00 price target on shares of Apple in a research note on Thursday, March 28th. One research 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 assigned a strong buy rating to the company. According to MarketBeat, Apple has an average rating of “Moderate Buy” and an average price target of $203.34.

Apple Price Performance

Shares of NASDAQ AAPL opened at $167.04 on Friday. The stock’s 50-day moving average is $175.15 and its two-hundred day moving average is $182.10. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02. Apple Inc. has a 1-year low of $162.80 and a 1-year high of $199.62. The company has a market cap of $2.58 trillion, a price-to-earnings ratio of 26.02, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.09. The company had revenue of $119.60 billion for the quarter, compared to the consensus estimate of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. Apple’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.88 EPS. Analysts forecast that Apple Inc. will post 6.54 EPS for the current fiscal 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 given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.96 annualized dividend and a dividend yield of 0.57%. Apple’s dividend payout ratio is currently 14.95%.

Insider Transactions at Apple

In other news, SVP Deirdre O’brien sold 54,732 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Deirdre O’brien sold 54,732 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Arthur D. Levinson sold 100,000 shares of the company’s 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 transaction, the director now directly 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. In the last ninety days, insiders sold 366,271 shares of company stock valued at $63,653,887. 0.06% of the stock is currently owned by corporate 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.