Cooksen Wealth LLC Acquires Shares of 3,668 Apple Inc. (NASDAQ:AAPL)

Cooksen Wealth LLC bought a new position in shares of Apple Inc. (NASDAQ:AAPL) in the 4th quarter, Holdings Channel reports. The fund bought 3,668 shares of the iPhone maker’s stock, valued at approximately $706,000. Apple makes up 0.8% of Cooksen Wealth LLC’s holdings, making the stock its 26th biggest position.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Yeomans Consulting Group Inc. purchased a new stake in Apple in the 4th quarter valued at approximately $1,713,000. Raleigh Capital Management Inc. grew its holdings in shares of Apple by 11.8% in the 4th quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock worth $2,986,000 after acquiring an additional 1,643 shares during the period. Headinvest LLC increased its stake in Apple by 1.7% in the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock valued at $9,236,000 after purchasing an additional 872 shares in the last quarter. GLOBALT Investments LLC GA acquired a new position in Apple during the fourth quarter worth $38,406,000. Finally, Barden Capital Management Inc. boosted its position in Apple by 132.8% during the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after purchasing an additional 18,615 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Analyst Ratings Changes

AAPL has been the subject of a number of research analyst reports. UBS Group restated a “neutral” rating and issued a $190.00 price target on shares of Apple in a research report on Tuesday, June 11th. Canaccord Genuity Group raised their target price on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Tigress Financial upped their price target on shares of Apple from $240.00 to $245.00 and gave the company a “strong-buy” rating in a report on Thursday, May 30th. DA Davidson raised shares of Apple from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $200.00 to $230.00 in a research note on Tuesday, June 11th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $216.00 target price on shares of Apple in a research note on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.06.

Apple Trading Down 1.1 %

NASDAQ AAPL opened at $214.29 on Wednesday. The firm has a market capitalization of $3.29 trillion, a price-to-earnings ratio of 33.33, a PEG ratio of 2.59 and a beta of 1.25. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. Apple Inc. has a one year low of $164.07 and a one year high of $220.20. The company’s 50 day moving average price is $185.62 and its 200 day moving average price is $184.36.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The business had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.52 EPS. On average, sell-side analysts predict that Apple Inc. will post 6.58 EPS for the current year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Friday, May 10th. This is a boost from Apple’s previous quarterly dividend of $0.24. Apple’s payout ratio is currently 15.55%.

Apple declared that its Board of Directors has initiated a share buyback plan on Thursday, May 2nd that allows the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O’brien sold 54,732 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the transaction, the senior vice president now owns 136,572 shares in the company, valued at approximately $23,068,376.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Chris Kondo sold 4,999 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total transaction of $951,809.60. Following the completion of the sale, the insider now directly owns 29,278 shares in the company, valued at $5,574,531.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Deirdre O’brien sold 54,732 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the transaction, the senior vice president now owns 136,572 shares in the company, valued at approximately $23,068,376.52. The disclosure for this sale can be found here. Insiders sold 346,270 shares of company stock valued at $60,880,196 over the last quarter. Company insiders own 0.06% of the company’s stock.

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.