Affinity Wealth Management LLC Buys 394 Shares of Apple Inc. (NASDAQ:AAPL)

Affinity Wealth Management LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 1.5% during the fourth quarter, reports. The firm owned 26,042 shares of the iPhone maker’s stock after purchasing an additional 394 shares during the quarter. Apple makes up 1.0% of Affinity Wealth Management LLC’s portfolio, making the stock its 29th largest position. Affinity Wealth Management LLC’s holdings in Apple were worth $5,014,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Atlantic Private Wealth LLC bought a new stake in shares of Apple during the 1st quarter valued at $30,000. Wyrmwood Management LLC increased its stake in Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after acquiring an additional 69 shares during the last quarter. Summit Wealth Group LLC increased its stake in Apple by 16,252.3% in the 1st quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 6,949,659 shares during the last quarter. HBC Financial Services PLLC increased its stake in Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after acquiring an additional 80 shares during the last quarter. Finally, West Tower Group LLC bought a new position in Apple in the 2nd quarter worth about $64,000. 60.41% of the stock is currently owned by institutional investors.

Apple Stock Down 1.1 %

AAPL stock opened at $171.48 on Friday. Apple Inc. has a twelve month low of $159.35 and a twelve month high of $199.62. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. The firm has a market cap of $2.65 trillion, a PE ratio of 26.71, a price-to-earnings-growth ratio of 2.09 and a beta of 1.29. The business has a 50 day moving average of $181.15 and a 200 day moving average of $182.58.

Apple (NASDAQ:AAPLGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.09. Apple had a return on equity of 156.04% and a net margin of 26.16%. The company had revenue of $119.60 billion during the quarter, compared to analyst estimates of $117.99 billion. During the same quarter last year, the company earned $1.88 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, research analysts forecast that Apple Inc. will post 6.55 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Friday, February 9th. Apple’s dividend payout ratio (DPR) is presently 14.95%.

Insider Activity at Apple

In related news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the completion of the transaction, the director now owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on AAPL. Morgan Stanley restated an “overweight” rating and issued a $220.00 target price on shares of Apple in a research note on Friday, March 22nd. Monness Crespi & Hardt upped their target price on Apple from $189.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Redburn Atlantic lowered Apple from a “buy” rating to a “neutral” rating and set a $200.00 target price on the stock. in a research note on Wednesday, January 10th. Bank of America upgraded Apple from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $208.00 to $225.00 in a report on Thursday, January 18th. Finally, Piper Sandler cut their price objective on Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $204.53.

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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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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