Jeppson Wealth Management LLC Has $17.47 Million Holdings in Apple Inc. (NASDAQ:AAPL)

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Jeppson Wealth Management LLC trimmed its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.2% in the first quarter, HoldingsChannel reports. The firm owned 100,076 shares of the iPhone maker’s stock after selling 154 shares during the quarter. Apple accounts for about 8.2% of Jeppson Wealth Management LLC’s holdings, making the stock its 2nd largest holding. Jeppson Wealth Management LLC’s holdings in Apple were worth $17,474,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AAPL. Norges Bank purchased a new stake in Apple in the 4th quarter worth approximately $25,228,507,000. State Street Corp lifted its position in Apple by 1.8% during the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock valued at $112,422,274,000 after purchasing an additional 10,951,705 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Apple in the 4th quarter worth approximately $1,461,735,000. Capital Research Global Investors increased its holdings in shares of Apple by 38.1% in the 4th quarter. Capital Research Global Investors now owns 29,549,427 shares of the iPhone maker’s stock worth $5,247,094,000 after buying an additional 8,154,171 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of Apple by 41.8% during the 4th quarter. ProShare Advisors LLC now owns 20,866,567 shares of the iPhone maker’s stock worth $3,705,275,000 after acquiring an additional 6,154,422 shares during the last quarter. 57.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Piper Sandler lowered their price target on Apple from $200.00 to $195.00 in a research report on Friday, April 29th. UBS Group set a $185.00 price objective on Apple in a report on Thursday, July 21st. Itaú Unibanco assumed coverage on Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective for the company. Bank of America cut their price objective on Apple from $200.00 to $185.00 in a report on Tuesday, July 26th. Finally, Raymond James cut their price objective on Apple from $190.00 to $185.00 and set a “maintains” rating for the company in a report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $179.04.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the completion of the transaction, the senior vice president now owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by corporate insiders.

Apple Stock Up 3.3 %

Shares of NASDAQ:AAPL opened at $162.51 on Monday. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The firm has a market capitalization of $2.63 trillion, a P/E ratio of 26.38, a P/E/G ratio of 1.97 and a beta of 1.19. The stock has a 50 day moving average price of $144.31 and a 200-day moving average price of $157.20. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.88 and a current ratio of 0.93.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.88% and a net margin of 26.41%. The company had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. During the same quarter last year, the company earned $1.30 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities research analysts anticipate that Apple Inc. will post 6.09 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Friday, August 5th. Apple’s dividend payout ratio (DPR) is presently 14.94%.

Apple announced that its board has approved a share buyback program on Thursday, April 28th that allows the company to repurchase $90.00 billion in shares. This repurchase authorization allows the iPhone maker to buy up to 3.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

About Apple

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

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