Cahaba Wealth Management Inc. Acquires 708 Shares of Apple Inc. (NASDAQ:AAPL)

Cahaba Wealth Management Inc. increased its holdings in Apple Inc. (NASDAQ:AAPL) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,719 shares of the iPhone maker’s stock after purchasing an additional 708 shares during the quarter. Apple makes up 0.4% of Cahaba Wealth Management Inc.’s investment portfolio, making the stock its 24th biggest holding. Cahaba Wealth Management Inc.’s holdings in Apple were worth $4,925,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Conservest Capital Advisors Inc. increased its holdings in shares of Apple by 0.3% in the third quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock valued at $2,877,000 after purchasing an additional 55 shares during the period. Flagstone Financial Management lifted its holdings in shares of Apple by 0.9% during the 4th quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock worth $1,173,000 after acquiring an additional 56 shares during the period. High Pines Wealth Management LLC raised its position in shares of Apple by 0.7% in the 4th quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock worth $1,638,000 after buying an additional 58 shares during the period. Kraft Davis & Associates LLC raised its holdings in shares of Apple by 0.9% in the 3rd quarter. Kraft Davis & Associates LLC now owns 6,716 shares of the iPhone maker’s stock worth $1,155,000 after purchasing an additional 59 shares during the period. Finally, Asset Planning Corporation lifted its position in Apple by 1.0% during 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. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Activity at Apple

In other Apple news, COO Jeffrey E. Williams sold 59,162 shares of Apple stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $172.22, for a total value of $10,188,879.64. Following the transaction, the chief operating officer now owns 489,944 shares in the company, valued at $84,378,155.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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, COO Jeffrey E. Williams sold 59,162 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $172.22, for a total value of $10,188,879.64. Following the sale, the chief operating officer now owns 489,944 shares in the company, valued at $84,378,155.68. The disclosure for this sale can be found here. Insiders sold a total of 366,271 shares of company stock valued at $63,653,887 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on AAPL shares. Loop Capital lowered their price objective on shares of Apple from $185.00 to $170.00 and set a “hold” rating for the company in a research report on Monday, April 1st. Sanford C. Bernstein raised Apple from a “market perform” rating to an “outperform” rating and set a $195.00 target price on the stock in a research report on Monday, April 29th. Maxim Group began coverage on Apple in a research note on Wednesday, April 17th. They set a “hold” rating and a $178.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $220.00 price objective on shares of Apple in a report on Friday. Finally, Piper Sandler reduced their price objective on shares of Apple from $205.00 to $190.00 and set a “neutral” rating on the stock in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $204.00.

Apple Stock Up 6.0 %

NASDAQ:AAPL traded up $10.35 during trading hours on Friday, reaching $183.38. 163,224,109 shares of the stock were exchanged, compared to its average volume of 59,692,680. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $199.62. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02. The firm has a 50 day moving average of $172.17 and a 200 day moving average of $181.60. The stock has a market cap of $2.83 trillion, a PE ratio of 28.52, a PEG ratio of 2.09 and a beta of 1.26.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, beating the consensus estimate of $1.51 by $0.02. Apple had a return on equity of 153.25% and a net margin of 26.31%. The company had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. During the same quarter in the prior year, the firm posted $1.52 EPS. The firm’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 earnings per share for the current year.

Apple announced that its Board of Directors has approved a stock buyback plan on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is 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 is a boost from Apple’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, May 10th. This represents a $1.00 annualized dividend and a yield of 0.55%. Apple’s dividend payout ratio (DPR) is presently 14.93%.

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.