PUREfi Wealth LLC Makes New $3.55 Million Investment in Apple Inc. (NASDAQ:AAPL)

PUREfi Wealth LLC purchased a new stake in shares of Apple Inc. (NASDAQ:AAPL) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,187 shares of the iPhone maker’s stock, valued at approximately $3,553,000. Apple comprises about 3.5% of PUREfi Wealth LLC’s holdings, making the stock its 4th biggest position.

A number of other institutional investors have also modified their holdings of the company. New Mexico Educational Retirement Board grew its stake in Apple by 2.1% during the 4th quarter. New Mexico Educational Retirement Board now owns 719,664 shares of the iPhone maker’s stock worth $180,218,000 after buying an additional 14,800 shares during the last quarter. Valeo Financial Advisors LLC increased its holdings in shares of Apple by 12.9% during the fourth quarter. Valeo Financial Advisors LLC now owns 738,227 shares of the iPhone maker’s stock valued at $184,867,000 after acquiring an additional 84,239 shares in the last quarter. AustralianSuper Pty Ltd raised its position in shares of Apple by 26.5% in the 4th quarter. AustralianSuper Pty Ltd now owns 6,031,766 shares of the iPhone maker’s stock valued at $1,510,475,000 after purchasing an additional 1,264,387 shares during the last quarter. Campbell Wealth Management boosted its stake in Apple by 65.2% in the 4th quarter. Campbell Wealth Management now owns 22,810 shares of the iPhone maker’s stock worth $5,712,000 after purchasing an additional 9,005 shares in the last quarter. Finally, Asset Planning Inc purchased a new stake in Apple during the 4th quarter worth approximately $8,095,000. 67.73% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the transaction, the chief executive officer now owns 3,280,295 shares of the company’s stock, valued at approximately $733,637,976.75. This trade represents a 3.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the sale, the senior vice president now directly owns 179,158 shares in the company, valued at approximately $40,072,269.86. The trade was a 17.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 182,451 shares of company stock valued at $40,818,720 over the last quarter. 0.06% of the stock is owned by insiders.

Apple Stock Performance

NASDAQ AAPL opened at $196.79 on Friday. Apple Inc. has a fifty-two week low of $164.77 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The stock’s fifty day moving average is $219.65 and its two-hundred day moving average is $230.10. The firm has a market capitalization of $2.96 trillion, a P/E ratio of 31.24, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26.

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%. On average, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.51%. Apple’s payout ratio is 15.87%.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of research analyst reports. Monness Crespi & Hardt raised their price target on shares of Apple to $245.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Citigroup dropped their price target on Apple from $275.00 to $245.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. TD Cowen restated a “buy” rating on shares of Apple in a research note on Tuesday, January 28th. Sanford C. Bernstein upped their target price on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Maxim Group increased their price target on shares of Apple to $215.00 and gave the stock a “hold” rating in a report on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $235.85.

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.