Apple Inc. (NASDAQ:AAPL) Stock Position Raised by Coastline Trust Co

Coastline Trust Co lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,551 shares of the iPhone maker’s stock after buying an additional 3,361 shares during the quarter. Apple makes up about 4.7% of Coastline Trust Co’s investment portfolio, making the stock its 2nd largest holding. Coastline Trust Co’s holdings in Apple were worth $35,147,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in AAPL. Cahaba Wealth Management Inc. raised its stake in Apple by 2.0% during the fourth quarter. Cahaba Wealth Management Inc. now owns 28,011 shares of the iPhone maker’s stock valued at $5,393,000 after buying an additional 560 shares in the last quarter. FAS Wealth Partners Inc. lifted its stake in Apple by 1.6% during the fourth quarter. FAS Wealth Partners Inc. now owns 142,540 shares of the iPhone maker’s stock worth $27,443,000 after purchasing an additional 2,177 shares during the last quarter. Capital Advantage Inc. boosted its holdings in Apple by 0.6% in the fourth quarter. Capital Advantage Inc. now owns 58,262 shares of the iPhone maker’s stock worth $11,217,000 after purchasing an additional 334 shares during the period. Private Ocean LLC increased its stake in Apple by 570.7% during the fourth quarter. Private Ocean LLC now owns 161,707 shares of the iPhone maker’s stock valued at $31,133,000 after purchasing an additional 137,596 shares during the last quarter. Finally, Lake Hills Wealth Management LLC raised its holdings in shares of Apple by 0.5% during the fourth quarter. Lake Hills Wealth Management LLC now owns 16,685 shares of the iPhone maker’s stock worth $3,212,000 after purchasing an additional 82 shares during the period. Institutional investors own 60.41% of the company’s stock.

Insider Activity

In related news, SVP Deirdre O’brien sold 54,732 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the sale, the senior vice president now directly owns 136,572 shares in the company, valued at $23,068,376.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 54,732 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the sale, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The disclosure for this sale can be found here. Insiders have sold 366,271 shares of company stock worth $63,653,887 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Apple from $220.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday. Barclays restated an “underweight” rating and set a $158.00 price objective on shares of Apple in a research report on Tuesday. Piper Sandler reduced their price target on shares of Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. Loop Capital dropped their price objective on shares of Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a report on Monday, April 1st. Finally, Piper Sandler Companies lowered shares of Apple to a “neutral” rating and reduced their target price for the company from $220.00 to $205.00 in a research note on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $203.05.

Apple Stock Up 0.6 %

Shares of NASDAQ:AAPL opened at $166.90 on Wednesday. Apple Inc. has a 52 week low of $162.80 and a 52 week high of $199.62. 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 cap of $2.58 trillion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 1.99 and a beta of 1.27. The firm has a 50 day simple moving average of $173.88 and a 200 day simple moving average of $182.03.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 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%. Apple’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.88 earnings per share. As a group, research analysts expect that Apple Inc. will post 6.54 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were paid a dividend of $0.24 per share. The ex-dividend date was Friday, February 9th. This represents a $0.96 annualized dividend and a yield of 0.58%. 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.