Apple Inc. (NASDAQ:AAPL) is Bright Futures Wealth Management LLC.'s 10th Largest Position

Bright Futures Wealth Management LLC. decreased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 71.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,135 shares of the iPhone maker's stock after selling 30,599 shares during the quarter. Apple accounts for 2.6% of Bright Futures Wealth Management LLC.'s portfolio, making the stock its 10th largest position. Bright Futures Wealth Management LLC.'s holdings in Apple were worth $2,905,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Drystone LLC purchased a new position in shares of Apple in the fourth quarter worth $25,000. Bull Oak Capital LLC increased its position in shares of Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock valued at $36,000 after acquiring an additional 111 shares during the period. SPX Gestao de Recursos Ltda purchased a new stake in shares of Apple during the third quarter worth about $71,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Apple in the third quarter worth about $77,000. Finally, ARK Investment Management LLC bought a new position in Apple during the 3rd quarter valued at approximately $110,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insiders Place Their Bets

In other news, COO Jeffrey E. Williams sold 35,493 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the sale, the chief operating officer now directly owns 390,059 shares of the company's stock, valued at approximately $87,377,116.59. The trade was a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the sale, the senior vice president now directly owns 179,158 shares of the company's stock, valued at $40,072,269.86. This represents a 17.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 182,451 shares of company stock valued at $40,818,720 over the last 90 days. Insiders own 0.06% of the company's stock.

Apple Price Performance

AAPL stock traded up $2.52 during mid-day trading on Friday, hitting $196.79. The company had a trading volume of 51,328,536 shares, compared to its average volume of 56,825,645. The company has a 50-day moving average price of $219.65 and a 200 day moving average price of $230.08. Apple Inc. has a 12-month low of $164.77 and a 12-month high of $260.10. The company has a market capitalization of $2.96 trillion, a price-to-earnings ratio of 31.24, a P/E/G ratio of 2.44 and a beta of 1.26. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Monday, February 10th. Apple's dividend payout ratio (DPR) is currently 15.87%.

Analyst Upgrades and Downgrades

AAPL has been the subject of several research reports. Tigress Financial upped their price objective on shares of Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a report on Thursday, April 3rd. Needham & Company LLC reissued a "buy" rating and set a $225.00 price target on shares of Apple in a research report on Monday, April 14th. Redburn Partners set a $230.00 price target on Apple in a report on Friday, January 31st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $263.00 price objective on shares of Apple in a research report on Thursday, April 3rd. Finally, Monness Crespi & Hardt boosted their price objective on shares of Apple to $245.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $235.85.

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.