Seaside Wealth Management Inc. raised its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 2.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,442 shares of the iPhone maker’s stock after buying an additional 111 shares during the period. Apple makes up about 0.5% of Seaside Wealth Management Inc.’s investment portfolio, making the stock its 19th biggest position. Seaside Wealth Management Inc.’s holdings in Apple were worth $1,363,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Bull Oak Capital LLC lifted its position in shares of Apple by 252.3% in 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 period. Hershey Financial Advisers LLC purchased a new stake in shares of Apple in the 2nd quarter worth approximately $42,000. SPX Gestao de Recursos Ltda purchased a new stake in shares of Apple in the 3rd quarter worth approximately $71,000. Christopher J. Hasenberg Inc lifted its position in shares of Apple by 88.9% in 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 period. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in Apple during the third quarter valued at approximately $77,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.
Insider Transactions at Apple
In related news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.06% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on AAPL shares. TD Cowen reissued a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Moffett Nathanson reissued a “sell” rating and set a $188.00 target price (down previously from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Jefferies Financial Group restated an “underperform” rating on shares of Apple in a research note on Wednesday, February 19th. Wells Fargo & Company increased their price objective on shares of Apple to $275.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, UBS Group increased their price objective on shares of Apple to $236.00 and gave the stock a “hold” rating in a research note on Tuesday, February 25th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.88.
Check Out Our Latest Research Report on AAPL
Apple Stock Performance
NASDAQ:AAPL opened at $241.76 on Friday. The company’s 50-day moving average price is $239.60 and its 200-day moving average price is $233.67. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a market cap of $3.63 trillion, a P/E ratio of 38.37, a P/E/G ratio of 2.44 and a beta of 1.20. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10.
Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings results 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 net margin of 24.30% and a return on equity of 160.83%. On average, sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio is currently 15.87%.
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
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