GenWealth Group Inc. Raises Holdings in Apple Inc. (NASDAQ:AAPL)

GenWealth Group Inc. grew its position in Apple Inc. (NASDAQ:AAPL) by 1.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,667 shares of the iPhone maker’s stock after buying an additional 120 shares during the quarter. GenWealth Group Inc.’s holdings in Apple were worth $1,829,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AAPL. Wyrmwood Management LLC increased its position in Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after buying an additional 69 shares in the last quarter. Gilfoyle & Co LLC increased its position in Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after buying an additional 118 shares in the last quarter. A.P. Gilfoyle & Co. L.P. acquired a new position in Apple during the 4th quarter valued at about $39,000. University of Texas Texas AM Investment Managment Co. increased its position in Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after buying an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. acquired a new position in Apple during the 4th quarter valued at about $85,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Apple

In related news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the transaction, the director now directly owns 4,359,576 shares in the company, valued at $835,207,570.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the transaction, the director now directly owns 4,359,576 shares in the company, valued at $835,207,570.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total value of $951,809.60. Following the completion of the transaction, the insider now owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 346,270 shares of company stock worth $60,880,196. Company insiders own 0.06% of the company’s stock.

Apple Trading Up 0.4 %

AAPL opened at $214.10 on Friday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $220.20. The business has a fifty day simple moving average of $190.27 and a 200-day simple moving average of $185.14. The firm has a market cap of $3.28 trillion, a P/E ratio of 33.30, a P/E/G ratio of 2.54 and a beta of 1.25. The company has a quick ratio of 0.99, a current ratio of 1.04 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, topping the consensus estimate of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The business had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. During the same period last year, the business posted $1.52 earnings per share. The company’s quarterly revenue was down 4.3% on a year-over-year basis. On average, equities analysts expect that Apple Inc. will post 6.58 earnings per share for the current year.

Apple announced that its board has authorized 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 purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 10th. This is a positive change from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 0.47%. Apple’s dividend payout ratio (DPR) is 15.55%.

Analyst Ratings Changes

Several brokerages recently issued reports on AAPL. Tigress Financial upped their target price on Apple from $240.00 to $245.00 and gave the company a “strong-buy” rating in a research report on Thursday, May 30th. Canaccord Genuity Group boosted their price target on Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Saturday, May 4th. UBS Group reiterated a “neutral” rating and set a $190.00 price target on shares of Apple in a research note on Tuesday, June 11th. Rosenblatt Securities upgraded Apple from a “neutral” rating to a “buy” rating and boosted their price target for the company from $196.00 to $260.00 in a research note on Wednesday. Finally, Loop Capital lowered their target price on Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $214.29.

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.