Aprio Wealth Management LLC Has $5.95 Million Stake in Apple Inc. (NASDAQ:AAPL)

Aprio Wealth Management LLC increased its position in Apple Inc. (NASDAQ:AAPL) by 37.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,696 shares of the iPhone maker’s stock after buying an additional 9,369 shares during the quarter. Apple accounts for approximately 1.2% of Aprio Wealth Management LLC’s investment portfolio, making the stock its 21st largest position. Aprio Wealth Management LLC’s holdings in Apple were worth $5,950,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Inscription Capital LLC increased its stake in shares of Apple by 17.3% in the first quarter. Inscription Capital LLC now owns 140,997 shares of the iPhone maker’s stock valued at $23,923,000 after buying an additional 20,768 shares during the period. Trust Co of the South acquired a new position in shares of Apple in the first quarter valued at approximately $12,750,000. Park Avenue Securities LLC increased its stake in shares of Apple by 5.6% in the first quarter. Park Avenue Securities LLC now owns 386,474 shares of the iPhone maker’s stock valued at $66,273,000 after buying an additional 20,599 shares during the period. Legacy Financial Group LLC acquired a new position in shares of Apple in the first quarter valued at approximately $1,850,000. Finally, BCS Wealth Management boosted its holdings in Apple by 21.8% in the first quarter. BCS Wealth Management now owns 35,178 shares of the iPhone maker’s stock valued at $6,032,000 after acquiring an additional 6,285 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Activity

In other news, SVP Deirdre O’brien sold 54,732 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the sale, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the sale, the director now directly owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Deirdre O’brien sold 54,732 shares of Apple 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 sale, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The disclosure for this sale can be found here. Insiders sold a total of 346,270 shares of company stock valued at $60,880,196 in the last ninety days. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AAPL. Itau BBA Securities upgraded Apple from an “underperform” rating to a “market perform” rating and upped their target price for the company from $162.00 to $188.00 in a report on Friday, May 3rd. Barclays reiterated an “underweight” rating and issued a $164.00 target price on shares of Apple in a report on Tuesday, June 11th. Tigress Financial upped their target price on Apple from $240.00 to $245.00 and gave the company a “strong-buy” rating in a report on Thursday, May 30th. Citigroup reduced their target price on Apple from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Monday, April 29th. Finally, Canaccord Genuity Group increased their price target on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Saturday, May 4th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $210.83.

Apple Trading Up 0.3 %

NASDAQ AAPL opened at $208.14 on Tuesday. The firm has a market capitalization of $3.19 trillion, a P/E ratio of 32.37, a PEG ratio of 2.55 and a beta of 1.25. The business has a fifty day simple moving average of $188.57 and a 200 day simple moving average of $184.85. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $220.20. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly 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 during the quarter, compared to analyst estimates of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. Apple’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.52 EPS. On average, analysts predict that Apple Inc. will post 6.58 EPS for the current fiscal year.

Apple announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 2nd that permits the company to repurchase $110.00 billion in shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were given a dividend of $0.25 per share. The ex-dividend date was Friday, May 10th. This is a positive change from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 0.48%. Apple’s dividend payout ratio (DPR) is currently 15.55%.

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.