Arrowroot Family Office LLC increased its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 9.4% during the third quarter, HoldingsChannel.com reports. The fund owned 13,335 shares of the iPhone maker’s stock after buying an additional 1,145 shares during the period. Apple makes up approximately 1.8% of Arrowroot Family Office LLC’s holdings, making the stock its 17th biggest position. Arrowroot Family Office LLC’s holdings in Apple were worth $3,107,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of AAPL. Bull Oak Capital LLC raised its holdings in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares during the period. Hershey Financial Advisers LLC purchased a new position in Apple during the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc raised its stake in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the period. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Apple in the third quarter valued at $77,000. Finally, ARK Investment Management LLC acquired a new stake in shares of Apple in the third quarter worth $110,000. 67.73% of the stock is owned by institutional investors and hedge funds.
Apple Stock Down 2.4 %
NASDAQ AAPL opened at $227.63 on Friday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. 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 stock’s 50 day moving average is $241.45 and its two-hundred day moving average is $230.97. The company has a market capitalization of $3.42 trillion, a price-to-earnings ratio of 36.13, a PEG ratio of 2.36 and a beta of 1.20.
Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Equities analysts forecast that Apple Inc. will post 7.33 earnings per share for the current fiscal year.
Apple Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Investors of record on Monday, February 10th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, February 10th. Apple’s dividend payout ratio is currently 15.87%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. Citigroup raised their price objective on Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. KeyCorp reaffirmed an “underweight” rating and set a $200.00 price objective on shares of Apple in a research report on Friday, January 31st. Wedbush reiterated an “outperform” rating and issued a $325.00 target price on shares of Apple in a research report on Thursday, January 23rd. Argus upgraded shares of Apple to a “strong-buy” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company increased their price objective on Apple to $275.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one 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 a consensus target price of $242.52.
View Our Latest Stock Report on Apple
Insider Buying and Selling at Apple
In other news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.
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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