Apple Inc. (NASDAQ:AAPL) Stock Position Increased by WorthPointe LLC

WorthPointe LLC lifted its position in Apple Inc. (NASDAQ:AAPL) by 2.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 16,701 shares of the iPhone maker’s stock after acquiring an additional 397 shares during the quarter. Apple accounts for about 1.6% of WorthPointe LLC’s investment portfolio, making the stock its 10th largest holding. WorthPointe LLC’s holdings in Apple were worth $3,891,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Glenmede Trust Co. NA lifted its position in Apple by 1.4% during the third quarter. Glenmede Trust Co. NA now owns 4,150,902 shares of the iPhone maker’s stock valued at $967,160,000 after purchasing an additional 57,060 shares during the last quarter. Bridgewater Associates LP lifted its holdings in shares of Apple by 119.9% in the 3rd quarter. Bridgewater Associates LP now owns 1,031,856 shares of the iPhone maker’s stock valued at $240,422,000 after acquiring an additional 562,532 shares during the last quarter. Insight Wealth Partners LLC grew its position in Apple by 26.3% in the third quarter. Insight Wealth Partners LLC now owns 11,307 shares of the iPhone maker’s stock worth $2,635,000 after acquiring an additional 2,357 shares in the last quarter. Capital Counsel LLC NY raised its position in Apple by 0.6% during the third quarter. Capital Counsel LLC NY now owns 77,610 shares of the iPhone maker’s stock valued at $18,083,000 after purchasing an additional 450 shares during the period. Finally, Hardy Reed LLC lifted its stake in shares of Apple by 0.8% in the 3rd quarter. Hardy Reed LLC now owns 135,617 shares of the iPhone maker’s stock valued at $31,599,000 after purchasing an additional 1,036 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on AAPL. Rosenblatt Securities restated a “buy” rating and set a $262.00 price target on shares of Apple in a report on Monday, January 27th. JPMorgan Chase & Co. raised their target price on shares of Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Piper Sandler reiterated a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Morgan Stanley upped their price objective on Apple from $273.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Wedbush restated an “outperform” rating and issued a $325.00 price target on shares of Apple in a report on Thursday, January 23rd. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $242.52.

Apple Stock Up 2.1 %

AAPL stock opened at $232.80 on Wednesday. The company has a market capitalization of $3.50 trillion, a P/E ratio of 36.95, a price-to-earnings-growth ratio of 2.36 and a beta of 1.20. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10. The firm’s fifty day simple moving average is $241.58 and its 200-day simple moving average is $230.89. 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 (NASDAQ:AAPL) last posted its quarterly earnings results 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 net margin of 24.30% and a return on equity of 160.83%. As a group, equities research analysts forecast that Apple Inc. will post 7.33 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 13th. Shareholders of record on Monday, February 10th will be given a $0.25 dividend. The ex-dividend date is Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.43%. Apple’s dividend payout ratio 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.