Wolff Financial Management LLC holds a $3.38 million position in Apple Inc. (NASDAQ:AAPL)


Wolff Financial Management LLC reduced its position in Apple Inc. (NASDAQ: AAPLGet a rating) by 0.8% in the first quarter, according to the company in its latest 13F filing with the Securities and Exchange Commission (SEC). The company held 19,328 shares of the iPhone maker after selling 161 shares during the period. Apple represents about 1.3% of Wolff Financial Management LLC’s portfolio, making the stock its 19th largest holding. Wolff Financial Management LLC’s holdings in Apple were worth $3,375,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also changed their stakes in the company. State Street Corp raised its position in Apple shares by 1.8% in the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker valued at $112,422,274,000 after buying an additional 10,951,705 shares last quarter. Geode Capital Management LLC increased its position in Apple by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker valued at $46,812,958,000 after acquiring an additional 4,456,954 shares during the period. Norges Bank acquired a new position in Apple in Q4, valued at approximately $25,228,507,000. Charles Schwab Investment Management Inc. increased its position in Apple by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 79,583,859 shares of the iPhone maker valued at $14,131,710,000 after acquiring an additional 1,273,148 shares during the period. Finally, Fisher Asset Management LLC increased its stake in Apple by 5.1% during the 4th quarter. Fisher Asset Management LLC now owns 63,982,104 shares of the iPhone maker worth $11,361,302,000 after acquiring an additional 3,096,696 shares during the period. Institutional investors hold 57.62% of the company’s shares.

Analysts set new price targets

A number of analysts have recently commented on AAPL shares. Sanford C. Bernstein set a target price of $170.00 on Apple in a Monday, May 2 research report. Wedbush raised its target price on Apple from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday. Bank of America lowered its price target on Apple from $200.00 to $185.00 in a Tuesday, July 26 research note. Itau BBA Securities launched coverage on Apple in a research report on Tuesday, July 26. They set an “underperform” rating and a target price of $136.00 on the stock. Finally, Credit Suisse Group upgraded Apple from a “neutral” rating to an “outperforming” rating and set a price target of $201.00 for the company in a research note on Tuesday. Two financial analysts have assigned the stock a sell rating, seven have issued a hold rating, twenty-four have assigned a buy rating and one has assigned the stock a strong buy rating. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average price target of $180.94.

Insider buying and selling

In related news, please Katherine L. Adams sold 25,000 shares of the company in a trade on Wednesday, August 3. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the sale, the senior vice president now directly owns 427,334 shares of the company, valued at approximately $70,411,823.18. The sale was disclosed in a filing with the SEC, accessible via the SEC website. Company insiders own 0.06% of the company’s shares.

Apple shares up 0.9%

Shares of Apple broth opened at $174.55 on Thursday. The company has a market capitalization of $2.81 trillion, a P/E ratio of 28.80, a PEG ratio of 2.24 and a beta of 1.23. The company has a debt ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. Apple Inc. has a one-year low of $129.04 and a one-year high of $182.94. The company has a fifty-day moving average of $149.82 and a two-hundred-day moving average of $157.52.

Apple (NASDAQ: AAPLGet a rating) last announced its quarterly results on Thursday, July 28. The iPhone maker reported earnings per share (EPS) of $1.20 for the quarter, beating consensus analyst estimates of $1.14 by $0.06. The company posted revenue of $82.96 billion in the quarter, versus a consensus estimate of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company’s revenues increased by 1.9% compared to the same quarter last year. In the same quarter last year, the company posted EPS of $1.30. On average, analysts expect Apple Inc. to post 6.1 earnings per share for the current year.

Apple dividend announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 11. Investors of record on Monday August 8 received a dividend of $0.23. The ex-dividend date was Friday August 5th. This represents an annualized dividend of $0.92 and a dividend yield of 0.53%. Apple’s dividend payout ratio is currently 15.18%.

Apple said its board on Thursday (April 28) approved a stock repurchase program that allows the company to repurchase $90.00 billion in outstanding stock. This repurchase authorization allows the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Apple Profile

(Get a rating)

Apple Inc designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories worldwide. It also sells various related services. Additionally, the company offers iPhone, a range of smartphones; Mac, a line of personal computers; iPad, a range of versatile tablets; AirPods Max, an over-ear wireless headset; and wearables, home and accessories including AirPods, Apple TV, Apple Watch, Beats products, HomePod and iPod touch.

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Want to see which other hedge funds hold AAPLs? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ: AAPLGet a rating).

Institutional ownership by quarter for Apple (NASDAQ:AAPL)



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Geraldine L. Melton