CIC Wealth LLC Buys 5,107 Shares of Apple Inc. (NASDAQ:AAPL)

CIC Wealth LLC boosted its stake in Apple Inc. (NASDAQ:AAPLFree Report) by 3.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 141,717 shares of the iPhone maker’s stock after purchasing an additional 5,107 shares during the period. Apple makes up 8.7% of CIC Wealth LLC’s portfolio, making the stock its 2nd largest position. CIC Wealth LLC’s holdings in Apple were worth $27,285,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in AAPL. Atlantic Private Wealth LLC acquired a new position in Apple in the 1st quarter valued at about $30,000. Wyrmwood Management LLC boosted its holdings in Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after purchasing an additional 69 shares in the last quarter. Summit Wealth Group LLC boosted its holdings 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 valued at $42,000 after purchasing an additional 6,949,659 shares in the last quarter. HBC Financial Services PLLC boosted its holdings in Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares in the last quarter. Finally, West Tower Group LLC purchased a new stake in Apple in the 2nd quarter valued at approximately $64,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AAPL. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $189.00 price objective on shares of Apple in a report on Tuesday, March 5th. Citigroup reaffirmed a “buy” rating and issued a $225.00 price objective on shares of Apple in a report on Friday, February 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $220.00 price objective on shares of Apple in a report on Friday, February 2nd. Redburn Partners lowered Apple to a “neutral” rating and set a $200.00 price objective on the stock. in a report on Wednesday, January 10th. Finally, UBS Group reissued a “hold” rating and set a $190.00 price target on shares of Apple in a research note on Monday, March 25th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $204.53.

Get Our Latest Stock Report on Apple

Apple Trading Down 1.1 %

Shares of AAPL opened at $171.48 on Friday. The stock has a fifty day moving average of $180.75 and a two-hundred day moving average of $182.53. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07. The company has a market capitalization 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. Apple Inc. has a fifty-two week low of $159.35 and a fifty-two week high of $199.62.

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

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were issued a $0.24 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.96 annualized dividend and a yield of 0.56%. Apple’s dividend payout ratio (DPR) is presently 14.95%.

Insider Buying and Selling at Apple

In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the transaction, the director now directly owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by insiders.

Apple Profile

(Free Report)

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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