Apple Inc. (NASDAQ:AAPL) Holdings Lifted by Independence Bank of Kentucky
Independence Bank of Kentucky raised its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 20.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 120,698 shares of the iPhone maker’s stock after purchasing an additional 20,441 shares during the period. Apple accounts for 4.7% of Independence Bank of Kentucky’s holdings, making the stock its 2nd biggest position. Independence Bank of Kentucky’s holdings in Apple were worth $30,225,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of AAPL. OFC Financial Planning LLC bought a new stake in shares of Apple during the 4th quarter worth $20,828,000. SeaBridge Investment Advisors LLC raised its position in Apple by 4.2% in the fourth quarter. SeaBridge Investment Advisors LLC now owns 86,559 shares of the iPhone maker’s stock worth $21,676,000 after acquiring an additional 3,509 shares during the period. Blossom Wealth Management boosted its stake in Apple by 3.4% in the fourth quarter. Blossom Wealth Management now owns 12,661 shares of the iPhone maker’s stock valued at $3,171,000 after acquiring an additional 418 shares during the last quarter. Dohj LLC grew its position in shares of Apple by 7.7% during the 4th quarter. Dohj LLC now owns 21,406 shares of the iPhone maker’s stock valued at $5,361,000 after acquiring an additional 1,539 shares during the period. Finally, Marietta Wealth Management LLC increased its stake in shares of Apple by 0.7% during the 4th quarter. Marietta Wealth Management LLC now owns 117,315 shares of the iPhone maker’s stock worth $29,378,000 after purchasing an additional 797 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.
Analyst Ratings Changes
AAPL has been the topic of several research analyst reports. Sanford C. Bernstein upped their price objective on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Oppenheimer downgraded Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group reissued a “buy” rating on shares of Apple in a report on Wednesday, February 19th. KeyCorp reaffirmed an “underweight” rating and set a $200.00 price objective on shares of Apple in a report on Friday, January 31st. Finally, Maxim Group lifted their target price on shares of Apple to $215.00 and gave the stock a “hold” rating in a research note on Friday, February 21st. Four research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $245.52.
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Apple Stock Down 2.7 %
AAPL opened at $217.90 on Friday. The business’s fifty day simple moving average is $230.70 and its 200 day simple moving average is $233.35. Apple Inc. has a 52 week low of $164.08 and a 52 week high of $260.10. 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 stock has a market cap of $3.27 trillion, a PE ratio of 34.59, a P/E/G ratio of 2.44 and a beta of 1.18.
Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating 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%. As a group, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio (DPR) is presently 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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