Marion Wealth Management raised its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 1.1% during the fourth quarter, HoldingsChannel reports. The firm owned 36,402 shares of the iPhone maker’s stock after purchasing an additional 400 shares during the period. Apple comprises 2.4% of Marion Wealth Management’s portfolio, making the stock its 11th largest holding. Marion Wealth Management’s holdings in Apple were worth $9,116,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of AAPL. Bull Oak Capital LLC grew its position in Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares during the last quarter. Hershey Financial Advisers LLC purchased a new stake in Apple during the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc grew its position in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the last quarter. SPX Gestao de Recursos Ltda purchased a new stake in Apple during the 3rd quarter worth approximately $71,000. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in Apple during the 3rd quarter worth approximately $77,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.
Insider Buying and Selling at Apple
In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.06% of the company’s stock.
Apple Stock Down 0.1 %
Shares of Apple stock opened at $245.55 on Friday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The business has a 50-day moving average of $240.47 and a two-hundred day moving average of $232.72. The company has a market capitalization of $3.69 trillion, a P/E ratio of 38.98, a price-to-earnings-growth ratio of 2.44 and a beta of 1.20. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.
Apple (NASDAQ:AAPL – Get Free Report) last posted 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%. As a group, equities analysts predict that Apple Inc. will post 7.28 EPS for the current year.
Apple Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.41%. Apple’s dividend payout ratio (DPR) is presently 15.87%.
Analyst Upgrades and Downgrades
Several analysts have commented on the stock. Wedbush restated an “outperform” rating and set a $325.00 price objective on shares of Apple in a research note on Thursday, January 23rd. Oppenheimer cut shares of Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Wells Fargo & Company lifted their price objective on shares of Apple to $275.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Evercore ISI lifted their price objective on shares of Apple to $260.00 and gave the company a “buy” rating in a research note on Thursday. Finally, KeyCorp restated an “underweight” rating and set a $200.00 price objective on shares of Apple in a research note on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $244.85.
View Our Latest Analysis on AAPL
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.
Further Reading
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL – Free Report).
Receive News & Ratings for Apple Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Apple and related companies with MarketBeat.com’s FREE daily email newsletter.
