ForthRight Wealth Management LLC Increases Stock Holdings in Apple Inc. (NASDAQ:AAPL)

ForthRight Wealth Management LLC increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,097 shares of the iPhone maker’s stock after purchasing an additional 67 shares during the quarter. Apple comprises about 0.8% of ForthRight Wealth Management LLC’s investment portfolio, making the stock its 23rd biggest holding. ForthRight Wealth Management LLC’s holdings in Apple were worth $2,137,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AAPL. Conservest Capital Advisors Inc. increased its holdings in shares of Apple by 0.3% in the third quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock valued at $2,877,000 after purchasing an additional 55 shares during the last quarter. High Pines Wealth Management LLC boosted its holdings in shares of Apple by 0.7% during the 4th quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock worth $1,638,000 after buying an additional 58 shares during the period. Kraft Davis & Associates LLC grew its stake in Apple by 0.9% in the 3rd quarter. Kraft Davis & Associates LLC now owns 6,716 shares of the iPhone maker’s stock valued at $1,155,000 after buying an additional 59 shares during the last quarter. Asset Planning Corporation raised its holdings in Apple by 1.0% in the 4th quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock valued at $1,181,000 after acquiring an additional 59 shares during the period. Finally, Columbus Macro LLC lifted its position in Apple by 0.5% during the fourth quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock worth $2,120,000 after acquiring an additional 59 shares during the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on AAPL. Bank of America raised Apple from a “neutral” rating to a “buy” rating and upped their target price for the company from $208.00 to $225.00 in a research report on Thursday, January 18th. Piper Sandler lowered their price objective on Apple from $205.00 to $190.00 and set a “neutral” rating on the stock in a research report on Friday, February 2nd. Loop Capital dropped their target price on Apple from $185.00 to $170.00 and set a “hold” rating for the company in a report on Monday, April 1st. Needham & Company LLC restated a “buy” rating and issued a $220.00 price target on shares of Apple in a research note on Tuesday, April 16th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $200.00 price objective on shares of Apple in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $203.05.

Apple Stock Up 0.6 %

Shares of NASDAQ:AAPL opened at $166.90 on Wednesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07. Apple Inc. has a 52-week low of $162.80 and a 52-week high of $199.62. The company has a market capitalization 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 company has a fifty day moving average of $173.88 and a 200-day moving average of $182.03.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping 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 business had revenue of $119.60 billion during the quarter, compared to analysts’ expectations of $117.99 billion. During the same quarter in the prior year, the firm earned $1.88 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities analysts predict that Apple Inc. will post 6.54 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s payout ratio is 14.95%.

Insider Buying and Selling at Apple

In other news, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the transaction, the director now owns 4,434,576 shares in the company, valued at $802,392,181.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction 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 directly owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the transaction, the chief executive officer now directly owns 3,377,407 shares in the company, valued at $574,260,512.21. The disclosure for this sale can be found here. In the last ninety days, insiders sold 366,271 shares of company stock worth $63,653,887. 0.06% of the stock is currently owned by company insiders.

Apple 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.