Agate Pass Investment Management LLC increased its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 3.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,775 shares of the iPhone maker’s stock after acquiring an additional 1,655 shares during the period. Apple makes up about 5.3% of Agate Pass Investment Management LLC’s portfolio, making the stock its 2nd biggest holding. Agate Pass Investment Management LLC’s holdings in Apple were worth $11,713,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. High Net Worth Advisory Group LLC boosted its holdings in Apple by 1.7% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after buying an additional 1,066 shares during the last quarter. Amara Financial LLC. acquired a new stake in Apple in the 3rd quarter worth about $288,000. Granite Investment Partners LLC boosted its holdings in Apple by 2.7% in the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after buying an additional 7,606 shares during the last quarter. Truist Financial Corp boosted its holdings in Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after buying an additional 126,210 shares during the last quarter. Finally, Sterling Investment Counsel LLC boosted its holdings in Apple by 3.8% in the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after buying an additional 2,565 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.
Insider Activity
In other news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.
Apple Stock Performance
NASDAQ AAPL opened at $245.55 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The company has a market capitalization of $3.69 trillion, a PE ratio of 38.98, a P/E/G ratio of 2.43 and a beta of 1.20. The company has a fifty day moving average of $240.47 and a two-hundred day moving average of $232.55.
Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating 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%. As a group, analysts expect that Apple Inc. will post 7.28 earnings per share for the current 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 issued 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 0.41%. Apple’s payout ratio is 15.87%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the company. Barclays lifted their price objective on Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Morgan Stanley lifted their price objective on Apple from $273.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Rosenblatt Securities restated a “buy” rating and set a $262.00 target price on shares of Apple in a report on Monday, January 27th. UBS Group restated a “neutral” rating and set a $236.00 target price on shares of Apple in a report on Monday, December 2nd. Finally, Bank of America boosted their target price on Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $242.52.
Check Out Our Latest Analysis on Apple
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.
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