Icon Wealth Advisors LLC Purchases 2,333 Shares of Apple Inc. (NASDAQ:AAPL)

Icon Wealth Advisors LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 123,487 shares of the iPhone maker’s stock after purchasing an additional 2,333 shares during the period. Apple accounts for 2.4% of Icon Wealth Advisors LLC’s investment portfolio, making the stock its 10th largest holding. Icon Wealth Advisors LLC’s holdings in Apple were worth $28,773,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AAPL. Bull Oak Capital LLC boosted its stake in Apple by 252.3% in 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 in the last quarter. Hershey Financial Advisers LLC purchased a new position in Apple during the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc increased its position in Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares during the period. Teachers Insurance & Annuity Association of America purchased a new stake in Apple in the third quarter valued at approximately $77,000. Finally, ARK Investment Management LLC purchased a new position in shares of Apple during the third quarter worth approximately $110,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $233.22 on Friday. The company has a 50-day simple moving average of $241.49 and a 200-day simple moving average of $230.96. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The company has a market cap of $3.51 trillion, a PE ratio of 37.02, 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.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping 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%. On average, equities analysts anticipate 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. Stockholders of record on Monday, February 10th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s payout ratio is currently 15.87%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AAPL shares. Loop Capital cut shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price target for the company. in a research note on Tuesday, January 21st. Citigroup raised their price target on Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Barclays upped their price objective on Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. UBS Group restated a “neutral” rating and set a $236.00 price target on shares of Apple in a research note on Monday, December 2nd. Finally, Evercore ISI boosted their price objective on shares of Apple from $250.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $242.52.

Insider Activity at Apple

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the company’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 transaction of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares in the company, valued at $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 SEC, which is available through this link. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

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.