Apple Inc. (NASDAQ:AAPL) Shares Bought by Phoenix Wealth Advisors

Phoenix Wealth Advisors grew its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 7.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,938 shares of the iPhone maker's stock after buying an additional 2,281 shares during the period. Apple accounts for about 3.6% of Phoenix Wealth Advisors' holdings, making the stock its 4th biggest holding. Phoenix Wealth Advisors' holdings in Apple were worth $8,248,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Melfa Wealth Management Inc. boosted its position in shares of Apple by 3.1% during the 4th quarter. Melfa Wealth Management Inc. now owns 24,446 shares of the iPhone maker's stock valued at $6,122,000 after purchasing an additional 727 shares in the last quarter. Albion Financial Group UT boosted its position in shares of Apple by 0.7% during the 4th quarter. Albion Financial Group UT now owns 351,175 shares of the iPhone maker's stock valued at $87,941,000 after purchasing an additional 2,381 shares in the last quarter. Eagle Wealth Strategies LLC boosted its position in shares of Apple by 7.2% during the 4th quarter. Eagle Wealth Strategies LLC now owns 9,459 shares of the iPhone maker's stock valued at $2,369,000 after purchasing an additional 634 shares in the last quarter. Global Trust Asset Management LLC boosted its position in shares of Apple by 1.2% during the 4th quarter. Global Trust Asset Management LLC now owns 53,466 shares of the iPhone maker's stock valued at $13,389,000 after purchasing an additional 633 shares in the last quarter. Finally, Advisory Alpha LLC boosted its position in shares of Apple by 4.8% during the 4th quarter. Advisory Alpha LLC now owns 118,983 shares of the iPhone maker's stock valued at $29,796,000 after purchasing an additional 5,409 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on AAPL. Jefferies Financial Group reiterated an "underperform" rating on shares of Apple in a report on Wednesday, February 19th. Raymond James increased their price target on Apple to $250.00 and gave the stock a "buy" rating in a report on Monday, January 20th. Needham & Company LLC reiterated a "buy" rating and issued a $260.00 price target on shares of Apple in a report on Friday, January 31st. Monness Crespi & Hardt increased their price target on Apple to $245.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Finally, Argus upgraded Apple to a "strong-buy" rating in a report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $243.22.

Remove Ads

Insider Activity at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction 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 completion of the sale, the chief operating officer now owns 389,944 shares of the company's stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is owned by corporate insiders.

Apple Price Performance

NASDAQ:AAPL opened at $216.98 on Thursday. The firm has a market capitalization of $3.26 trillion, a price-to-earnings ratio of 34.44, a P/E/G ratio of 2.44 and a beta of 1.18. Apple Inc. has a 52-week low of $164.08 and a 52-week high of $260.10. The stock has a fifty day moving average of $235.80 and a 200 day moving average of $234.00. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (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%. On average, research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.46%. The ex-dividend date was Monday, February 10th. Apple's dividend payout ratio 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.