AdvisorNet Financial Inc Acquires 727 Shares of Apple Inc. (NASDAQ:AAPL)

AdvisorNet Financial Inc lifted its position in Apple Inc. (NASDAQ:AAPL) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 199,909 shares of the iPhone maker’s stock after acquiring an additional 727 shares during the period. Apple accounts for 3.5% of AdvisorNet Financial Inc’s holdings, making the stock its 2nd largest position. AdvisorNet Financial Inc’s holdings in Apple were worth $38,488,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Atlantic Private Wealth LLC acquired a new position in Apple during the first quarter worth $30,000. Wyrmwood Management LLC boosted its stake in Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after buying an additional 69 shares during the last quarter. Gilfoyle & Co LLC boosted its stake in Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after buying an additional 118 shares during the last quarter. Summit Wealth Group LLC boosted its stake in Apple by 16,252.3% during the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after buying an additional 6,949,659 shares during the last quarter. Finally, HBC Financial Services PLLC boosted its stake in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares during the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AAPL has been the topic of a number of recent research reports. Maxim Group assumed coverage on Apple in a research note on Wednesday. They set a “hold” rating and a $178.00 price objective on the stock. Rosenblatt Securities restated a “neutral” rating and issued a $189.00 target price on shares of Apple in a research report on Tuesday, March 5th. Morgan Stanley restated an “overweight” rating and issued a $220.00 target price on shares of Apple in a research report on Friday, March 22nd. Bank of America upgraded Apple from a “neutral” rating to a “buy” rating and lifted their target price for the company from $208.00 to $225.00 in a research report on Thursday, January 18th. Finally, Robert W. Baird lifted their target price on Apple from $186.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $203.34.

Insider Activity at Apple

In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the company’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 sale, the director now directly owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the company’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 sale, the director now directly owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the sale, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The disclosure for this sale can be found here. Insiders sold a total of 366,271 shares of company stock valued at $63,653,887 in the last three months. 0.06% of the stock is currently owned by company insiders.

Apple Price Performance

Shares of NASDAQ AAPL opened at $167.04 on Friday. The stock’s 50-day moving average is $175.15 and its two-hundred day moving average is $182.10. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02. Apple Inc. has a 1-year low of $162.80 and a 1-year high of $199.62. The company has a market cap of $2.58 trillion, a price-to-earnings ratio of 26.02, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.09. The business had revenue of $119.60 billion during the quarter, compared to analysts’ expectations of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.88 EPS. Analysts forecast that Apple Inc. will post 6.54 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were given a $0.24 dividend. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.57%. Apple’s dividend payout ratio (DPR) is presently 14.95%.

Apple Company 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.