Priebe Wealth Holdings LLC Invests $1.04 Million in Apple Inc. (NASDAQ:AAPL)

Priebe Wealth Holdings LLC purchased a new stake in Apple Inc. (NASDAQ:AAPL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,407 shares of the iPhone maker’s stock, valued at approximately $1,041,000. Apple comprises 0.9% of Priebe Wealth Holdings LLC’s investment portfolio, making the stock its 19th largest position.

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

Apple Trading Up 0.4 %

NASDAQ:AAPL opened at $182.40 on Wednesday. The stock has a fifty day simple moving average of $172.17 and a 200 day simple moving average of $181.78. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $2.82 trillion, a price-to-earnings ratio of 28.37, a price-to-earnings-growth ratio of 2.21 and a beta of 1.26. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $199.62.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, topping the consensus estimate of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The company had revenue of $90.75 billion during the quarter, compared to analysts’ expectations of $90.37 billion. During the same period last year, the company posted $1.52 earnings per share. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. Sell-side analysts forecast that Apple Inc. will post 6.54 earnings per share for the current year.

Apple announced that its board has initiated a share repurchase plan on Thursday, May 2nd that permits the company to buyback $110.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 13th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.55%. This is a boost from Apple’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, May 10th. Apple’s payout ratio is presently 15.55%.

Insider Buying and Selling at Apple

In other news, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction on 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 transaction, the director now owns 4,434,576 shares in the company, valued at $802,392,181.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the transaction, 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 can be accessed through this link. Also, Director Arthur D. Levinson sold 100,000 shares of Apple 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 directly owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The disclosure for this sale can be found here. Insiders have sold a total of 366,271 shares of company stock valued at $63,653,887 in the last three months. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Maxim Group began coverage on shares of Apple in a research report on Wednesday, April 17th. They issued a “hold” rating and a $178.00 price target on the stock. Itau BBA Securities raised Apple from an “underperform” rating to a “market perform” rating and upped their target price for the company from $162.00 to $188.00 in a report on Friday, May 3rd. Piper Sandler cut their price target on Apple from $205.00 to $190.00 and set a “neutral” rating on the stock in a report on Friday, February 2nd. Rosenblatt Securities restated a “neutral” rating and set a $196.00 price objective (up previously from $189.00) on shares of Apple in a research report on Friday, May 3rd. Finally, DZ Bank reaffirmed a “hold” rating and issued a $180.00 target price on shares of Apple in a research report on Thursday, March 28th. One investment 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 issued a strong buy rating to the company. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.11.

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.