Elevate Capital Advisors LLC Purchases Shares of 20,083 Apple Inc. (NASDAQ:AAPL)

Elevate Capital Advisors LLC acquired a new position in shares of Apple Inc. (NASDAQ:AAPL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,083 shares of the iPhone maker’s stock, valued at approximately $5,029,000. Apple makes up about 4.4% of Elevate Capital Advisors LLC’s investment portfolio, making the stock its biggest position.

Several other institutional investors also recently modified their holdings of the stock. Amara Financial LLC. purchased a new stake in shares of Apple during the 3rd quarter valued at $288,000. Sterling Investment Counsel LLC increased its stake in Apple by 3.8% in the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after acquiring an additional 2,565 shares during the last quarter. Silicon Valley Capital Partners raised its position in Apple by 12.8% during the third quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock valued at $59,122,000 after purchasing an additional 28,799 shares in the last quarter. Catalyst Financial Partners LLC lifted its stake in Apple by 4.2% during the third quarter. Catalyst Financial Partners LLC now owns 96,589 shares of the iPhone maker’s stock worth $22,505,000 after purchasing an additional 3,935 shares during the last quarter. Finally, Narwhal Capital Management boosted its holdings in shares of Apple by 2.5% in the 3rd quarter. Narwhal Capital Management now owns 276,791 shares of the iPhone maker’s stock worth $64,492,000 after purchasing an additional 6,711 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 108,136 shares of the business’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the sale, the chief executive officer now directly owns 3,280,295 shares of the company’s stock, valued at approximately $733,637,976.75. The trade was a 3.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 35,493 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the transaction, the chief operating officer now owns 390,059 shares of the company’s stock, valued at $87,377,116.59. The trade was a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 182,451 shares of company stock worth $40,818,720 in the last 90 days. Insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL opened at $198.15 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a market cap of $2.98 trillion, a price-to-earnings ratio of 31.45, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. The stock has a fifty day simple moving average of $222.87 and a two-hundred day simple moving average of $231.14. Apple Inc. has a 12-month low of $164.08 and a 12-month high of $260.10.

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

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.50%. Apple’s dividend payout ratio is currently 15.87%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. UBS Group raised their price objective on Apple to $236.00 and gave the company a “hold” rating in a report on Tuesday, February 25th. Evercore ISI boosted their price objective on shares of Apple from $260.00 to $275.00 and gave the stock an “outperform” rating in a report on Tuesday, March 18th. Bank of America reduced their target price on shares of Apple from $265.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Apple in a research note on Friday, April 4th. Finally, Tigress Financial raised their price objective on Apple from $295.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Thursday, April 3rd. Three analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $240.26.

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.