Wrapmanager Inc. Grows Stock Position in Apple Inc. (NASDAQ:AAPL)

Wrapmanager Inc. boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 31.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,810 shares of the iPhone maker’s stock after purchasing an additional 12,630 shares during the period. Apple accounts for approximately 3.2% of Wrapmanager Inc.’s holdings, making the stock its 5th largest holding. Wrapmanager Inc.’s holdings in Apple were worth $12,305,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of AAPL. Bull Oak Capital LLC raised its stake in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares during the last quarter. Hershey Financial Advisers LLC acquired a new stake in Apple during the 2nd quarter worth $42,000. Christopher J. Hasenberg Inc raised its position in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after acquiring an additional 144 shares during the last quarter. ARK Investment Management LLC acquired a new position in shares of Apple in the 3rd quarter valued at $110,000. Finally, Cordant Inc. grew its stake in shares of Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after purchasing an additional 173 shares during the period. Institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a report on Friday, October 25th. Bank of America restated a “buy” rating and set a $253.00 price objective (down previously from $256.00) on shares of Apple in a report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Apple in a report on Tuesday, January 21st. Sanford C. Bernstein boosted their price target on shares of Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on Apple from $265.00 to $260.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $238.05.

Apple Trading Up 3.2 %

Shares of AAPL stock opened at $229.82 on Tuesday. The company has a market cap of $3.46 trillion, a PE ratio of 37.80, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The stock’s 50 day simple moving average is $240.93 and its two-hundred day simple moving average is $230.68. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.46 earnings per share. Research analysts predict that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is 16.45%.

About Apple

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.