Tulsa Wealth Advisors INC Buys New Shares in Apple Inc. $AAPL

Tulsa Wealth Advisors INC bought a new position in shares of Apple Inc. (NASDAQ:AAPL) during the 4th quarter, Holdings Channel reports. The institutional investor bought 85,294 shares of the iPhone maker’s stock, valued at approximately $23,188,000. Apple comprises approximately 7.7% of Tulsa Wealth Advisors INC’s portfolio, making the stock its 2nd largest position.

Several other large investors have also recently bought and sold shares of AAPL. Vanguard Group Inc. grew its stake in shares of Apple by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock valued at $387,749,545,000 after buying an additional 26,856,752 shares in the last quarter. State Street Corp increased its holdings in Apple by 1.1% during the fourth quarter. State Street Corp now owns 604,056,505 shares of the iPhone maker’s stock worth $164,218,801,000 after buying an additional 6,555,392 shares during the last quarter. Geode Capital Management LLC raised its position in Apple by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 358,032,517 shares of the iPhone maker’s stock worth $97,031,587,000 after acquiring an additional 1,866,103 shares in the last quarter. Morgan Stanley raised its position in Apple by 0.6% during the fourth quarter. Morgan Stanley now owns 230,483,035 shares of the iPhone maker’s stock worth $62,659,118,000 after acquiring an additional 1,379,651 shares in the last quarter. Finally, Norges Bank acquired a new stake in Apple in the fourth quarter valued at $52,266,468,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

NASDAQ:AAPL opened at $298.01 on Monday. The company has a market cap of $4.38 trillion, a P/E ratio of 36.04, a P/E/G ratio of 2.59 and a beta of 1.09. The firm’s fifty day moving average price is $289.73 and its two-hundred day moving average price is $272.91. Apple Inc. has a one year low of $196.85 and a one year high of $317.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. The company had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. Apple’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.65 EPS. Equities analysts expect that Apple Inc. will post 8.75 earnings per share for the current year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.4%. This is a boost from Apple’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. Apple’s dividend payout ratio (DPR) is 13.06%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AAPL shares. Robert W. Baird set a $310.00 price objective on shares of Apple in a research report on Friday, May 1st. Stifel Nicolaus set a $330.00 target price on shares of Apple in a report on Monday, March 2nd. Morgan Stanley set a $325.00 price target on Apple in a report on Tuesday, June 9th. Rosenblatt Securities reissued a “neutral” rating and set a $276.00 price target on shares of Apple in a research report on Tuesday, June 9th. Finally, Tigress Financial restated a “strong-buy” rating and issued a $375.00 price objective (up from $305.00) on shares of Apple in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.59.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s planned price increases could protect margins as memory and storage costs rise, and Bank of America reiterated a Buy rating with a $380 target, citing Apple’s pricing power and supply-chain strength. Article Title
• Positive Sentiment: Reports of upcoming AI-focused devices and a second-generation iPhone Air support confidence in Apple’s product pipeline and longer-term growth story. Article Title
• Neutral Sentiment: Apple’s planned price hikes may help earnings, but they could also pressure demand if consumers balk at higher handset prices. Article Title
• Neutral Sentiment: Apple opening Brazil’s App Store to alternative marketplaces reduces regulatory friction there, but it also underscores ongoing global platform scrutiny. Article Title

Insider Activity at Apple

In other news, CEO Timothy D. Cook sold 64,949 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the completion of the sale, the chief executive officer owned 3,280,418 shares in the company, valued at $833,980,668.14. The trade was a 1.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevan Parekh sold 1,534 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the transaction, the chief financial officer directly owned 13,366 shares in the company, valued at $3,675,650. The trade was a 10.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 97,875 shares of company stock valued at $24,998,541. 0.06% of the stock is currently owned by insiders.

Apple Company Profile

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.