Apple Inc. (NASDAQ:AAPL) Shares Bought by Riverstone Advisors LLC

Riverstone Advisors LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,596 shares of the iPhone maker’s stock after purchasing an additional 148 shares during the period. Apple comprises 2.1% of Riverstone Advisors LLC’s investment portfolio, making the stock its 11th biggest position. Riverstone Advisors LLC’s holdings in Apple were worth $3,655,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Drystone LLC purchased a new position in shares of Apple in the fourth quarter valued at approximately $25,000. Bull Oak Capital LLC raised its stake in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the last quarter. SPX Gestao de Recursos Ltda purchased a new position in Apple in the 3rd quarter valued at $71,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Apple during the third quarter worth $77,000. Finally, ARK Investment Management LLC purchased a new stake in shares of Apple during the third quarter worth $110,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Down 2.7 %

Shares of Apple stock opened at $217.90 on Monday. Apple Inc. has a 52-week low of $164.08 and a 52-week high of $260.10. The company has a 50 day moving average of $230.70 and a 200 day moving average of $233.43. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $3.27 trillion, a P/E ratio of 34.59, a P/E/G ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. As a group, research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Analysts Set New Price Targets

A number of research firms recently weighed in on AAPL. Morgan Stanley lowered their price target on shares of Apple from $275.00 to $252.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. TD Cowen restated a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Wells Fargo & Company lifted their price objective on Apple to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. DA Davidson set a $290.00 target price on Apple in a report on Friday, January 31st. Finally, Citigroup lifted their price target on Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $245.52.

About Apple

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.