Cahaba Wealth Management Inc. Boosts Position in Apple Inc. (NASDAQ:AAPL)

Cahaba Wealth Management Inc. grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,011 shares of the iPhone maker’s stock after purchasing an additional 560 shares during the quarter. Apple makes up about 0.5% of Cahaba Wealth Management Inc.’s holdings, making the stock its 20th biggest position. Cahaba Wealth Management Inc.’s holdings in Apple were worth $5,393,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of AAPL. Wyrmwood Management LLC lifted its stake in Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after buying an additional 69 shares during the last quarter. Gilfoyle & Co LLC boosted its stake in Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares during the period. PayPay Securities Corp increased its stake in Apple by 70.2% in the third quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock valued at $87,000 after purchasing an additional 210 shares during the period. Cordant Inc. raised its holdings in shares of Apple by 27.7% in the third quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock valued at $110,000 after buying an additional 140 shares during the last quarter. Finally, Life Planning Partners Inc purchased a new position in shares of Apple during the fourth quarter worth about $132,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Price Performance

AAPL opened at $165.84 on Tuesday. The company has a 50 day moving average of $174.24 and a two-hundred day moving average of $182.10. Apple Inc. has a 52-week low of $162.80 and a 52-week high of $199.62. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. The company has a market cap of $2.56 trillion, a P/E ratio of 25.83, a P/E/G ratio of 1.99 and a beta of 1.27.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. The company had revenue of $119.60 billion for the quarter, compared to analysts’ expectations of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.88 earnings per share. On average, analysts expect that Apple Inc. will post 6.54 earnings per share for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.96 annualized dividend and a dividend yield of 0.58%. Apple’s dividend payout ratio (DPR) is presently 14.95%.

Analysts Set New Price Targets

Several research analysts have weighed in on AAPL shares. UBS Group reiterated a “hold” rating and issued a $190.00 target price on shares of Apple in a research note on Monday, March 25th. The Goldman Sachs Group raised their target price on shares of Apple from $223.00 to $232.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Piper Sandler cut their price target on shares of Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. Rosenblatt Securities reiterated a “neutral” rating and set a $189.00 target price on shares of Apple in a research report on Tuesday, March 5th. Finally, Needham & Company LLC restated a “buy” rating and issued a $220.00 price target on shares of Apple in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $203.05.

Insider Activity at Apple

In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the transaction, the senior vice president now owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The disclosure for this sale can be found here. In the last three months, insiders sold 366,271 shares of company stock valued at $63,653,887. Corporate insiders own 0.06% of the company’s stock.

Apple Company 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.