Capstone Wealth Management LLC Makes New Investment in Apple Inc. (NASDAQ:AAPL)

Capstone Wealth Management LLC bought a new position in Apple Inc. (NASDAQ:AAPL - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 8,528 shares of the iPhone maker's stock, valued at approximately $2,136,000. Apple makes up approximately 2.1% of Capstone Wealth Management LLC's investment portfolio, making the stock its 11th biggest holding.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Aspire Private Capital LLC raised its position in Apple by 15.3% during the fourth quarter. Aspire Private Capital LLC now owns 25,713 shares of the iPhone maker's stock valued at $6,439,000 after purchasing an additional 3,415 shares in the last quarter. Mitsubishi UFJ Asset Management UK Ltd. raised its position in Apple by 7.1% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 30,000 shares of the iPhone maker's stock valued at $7,513,000 after purchasing an additional 2,000 shares in the last quarter. JBGlobal.com LLC purchased a new stake in Apple during the fourth quarter valued at about $2,302,000. Wall Street Financial Group Inc. raised its position in Apple by 29.4% during the fourth quarter. Wall Street Financial Group Inc. now owns 3,101 shares of the iPhone maker's stock valued at $777,000 after purchasing an additional 704 shares in the last quarter. Finally, Atomi Financial Group Inc. raised its position in Apple by 21.7% during the fourth quarter. Atomi Financial Group Inc. now owns 324,005 shares of the iPhone maker's stock valued at $81,137,000 after purchasing an additional 57,741 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analysts Set New Price Targets

AAPL has been the topic of a number of recent research reports. Bank of America raised their price objective on Apple from $253.00 to $265.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Jefferies Financial Group reaffirmed an "underperform" rating on shares of Apple in a research note on Wednesday, February 19th. Loop Capital cut Apple from a "buy" rating to a "hold" rating and set a $230.00 target price on the stock. in a research note on Tuesday, January 21st. Monness Crespi & Hardt raised their target price on Apple to $245.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Finally, DA Davidson set a $290.00 target price on Apple in a research note on Friday, January 31st. Four 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 MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $243.88.

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Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 100,000 shares of the company's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares of the company's stock, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

Shares of NASDAQ AAPL opened at $220.84 on Wednesday. Apple Inc. has a twelve month low of $164.08 and a twelve month high of $260.10. The firm has a market cap of $3.32 trillion, a P/E ratio of 35.05, a PEG ratio of 2.44 and a beta of 1.18. The company has a 50 day moving average of $236.47 and a 200 day moving average of $234.12. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping analysts' consensus estimates 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, research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, February 10th. Apple's payout ratio is 15.87%.

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.

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