Sunpointe LLC Buys 568 Shares of Apple Inc. (NASDAQ:AAPL)

Sunpointe LLC grew its stake in Apple Inc. (NASDAQ:AAPL) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,125 shares of the iPhone maker’s stock after buying an additional 568 shares during the period. Apple accounts for about 3.5% of Sunpointe LLC’s holdings, making the stock its 4th biggest holding. Sunpointe LLC’s holdings in Apple were worth $7,043,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in AAPL. Drystone LLC acquired a new position in shares of Apple during the 4th quarter valued at $25,000. Life Planning Partners Inc bought a new stake in Apple in the fourth quarter valued at $47,000. SPX Gestao de Recursos Ltda bought a new stake in Apple in the third quarter valued at $71,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Apple during the third quarter valued at about $77,000. Finally, ARK Investment Management LLC bought a new position in shares of Apple during the 3rd quarter worth about $110,000. 67.73% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the transaction, the chief executive officer now directly owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. The trade was a 3.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the sale, the chief operating officer now directly owns 390,059 shares in the company, valued at $87,377,116.59. The trade was a 8.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 187,021 shares of company stock valued at $41,760,140 over the last quarter. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $209.28 on Friday. The firm has a market cap of $3.14 trillion, a price-to-earnings ratio of 33.22, 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 $215.71 and a two-hundred day simple moving average of $229.31. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a 1-year low of $169.11 and a 1-year high of $260.10.

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

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.48%. Apple’s payout ratio is 15.87%.

Analysts Set New Price Targets

AAPL has been the topic of a number of research reports. Wedbush dropped their price target on Apple from $325.00 to $250.00 and set an “outperform” rating on the stock in a research note on Monday, April 7th. TD Cowen reaffirmed a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $263.00 target price on shares of Apple in a report on Thursday, April 3rd. Redburn Partners set a $230.00 price target on shares of Apple in a research note on Friday, January 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 price objective on shares of Apple in a research note on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Apple has an average rating of “Moderate Buy” and an average price target of $233.88.

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.