Apple Inc. (NASDAQ:AAPL) Holdings Boosted by Old North State Wealth Management LLC
Old North State Wealth Management LLC grew its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,394 shares of the iPhone maker’s stock after buying an additional 344 shares during the quarter. Apple accounts for 3.9% of Old North State Wealth Management LLC’s investment portfolio, making the stock its 4th largest holding. Old North State Wealth Management LLC’s holdings in Apple were worth $6,870,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the company. Drystone LLC acquired a new position in shares of Apple during the 4th quarter worth $25,000. Bull Oak Capital LLC boosted its holdings in Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares in the last quarter. SPX Gestao de Recursos Ltda acquired a new position in Apple during the third quarter worth about $71,000. Teachers Insurance & Annuity Association of America purchased a new position in Apple in the third quarter valued at about $77,000. Finally, ARK Investment Management LLC acquired a new stake in shares of Apple during the 3rd quarter valued at approximately $110,000. Institutional investors and hedge funds own 67.73% of the company’s stock.
Wall Street Analyst Weigh In
AAPL has been the topic of a number of research reports. Maxim Group upped their price target on Apple to $215.00 and gave the stock a “hold” rating in a report on Friday, February 21st. Evercore ISI upped their target price on Apple from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday, March 18th. Raymond James lifted their price target on Apple to $250.00 and gave the stock a “buy” rating in a research note on Monday, January 20th. Citigroup increased their price objective on shares of Apple from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, Loop Capital cut shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 target price for the company. in a research report on Tuesday, January 21st. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $245.26.
Read Our Latest Report on AAPL
Insiders Place Their Bets
In other Apple news, SVP Katherine L. Adams sold 38,822 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the transaction, the senior vice president now owns 179,158 shares in the company, valued at $40,072,269.86. The trade was a 17.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction dated 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 sale, 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 disclosure for this sale can be found here. Insiders sold a total of 182,451 shares of company stock worth $40,818,720 over the last ninety days. 0.06% of the stock is owned by company insiders.
Apple Trading Down 9.2 %
AAPL stock opened at $203.19 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The company has a market cap of $3.05 trillion, a price-to-earnings ratio of 32.25, a PEG ratio of 2.44 and a beta of 1.18. The business has a fifty day simple moving average of $230.14 and a 200-day simple moving average of $233.15. Apple Inc. has a 52 week low of $164.08 and a 52 week high of $260.10.
Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS 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%. On average, equities research analysts expect that Apple Inc. will post 7.28 EPS for the current year.
Apple Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.49%. Apple’s dividend payout ratio (DPR) is 15.87%.
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.
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