Centerline Wealth Advisors LLC Invests $11.04 Million in Apple Inc. (NASDAQ:AAPL)

Centerline Wealth Advisors LLC acquired a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 44,121 shares of the iPhone maker's stock, valued at approximately $11,041,000. Apple comprises approximately 6.5% of Centerline Wealth Advisors LLC's investment portfolio, making the stock its 6th biggest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Amara Financial LLC. acquired a new position in shares of Apple during the third quarter worth about $288,000. Sterling Investment Counsel LLC grew its stake in shares of Apple by 3.8% in the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker's stock valued at $16,269,000 after purchasing an additional 2,565 shares during the last quarter. Silicon Valley Capital Partners grew its position in Apple by 12.8% in the 3rd quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker's stock valued at $59,122,000 after buying an additional 28,799 shares during the last quarter. Catalyst Financial Partners LLC lifted its position in Apple by 4.2% in the third quarter. Catalyst Financial Partners LLC now owns 96,589 shares of the iPhone maker's stock valued at $22,505,000 after purchasing an additional 3,935 shares during the period. Finally, Narwhal Capital Management boosted its stake in shares of Apple by 2.5% in the third quarter. Narwhal Capital Management now owns 276,791 shares of the iPhone maker's stock valued at $64,492,000 after buying an additional 6,711 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

Apple stock traded up $7.73 during midday trading on Friday, reaching $198.15. The company's stock had a trading volume of 87,256,357 shares, compared to its average volume of 56,952,380. The business has a 50-day moving average price of $222.87 and a 200-day moving average price of $231.14. The stock has a market cap of $2.98 trillion, a PE ratio of 31.45, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. Apple Inc. has a 52 week low of $164.08 and a 52 week high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data 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 return on equity of 160.83% and a net margin of 24.30%. On average, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current 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. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.50%. Apple's dividend payout ratio (DPR) is presently 15.87%.

Analyst Ratings Changes

AAPL has been the topic of a number of research analyst reports. Raymond James boosted their price objective on shares of Apple to $250.00 and gave the stock a "buy" rating in a report on Friday, April 4th. Bank of America reduced their target price on Apple from $265.00 to $250.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Wedbush cut their price objective on shares of Apple from $325.00 to $250.00 and set an "outperform" rating for the company in a research report on Monday, April 7th. DA Davidson set a $290.00 price target on Apple in a research note on Friday, January 31st. Finally, Oppenheimer lowered shares of Apple from an "outperform" rating to a "market perform" rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $240.26.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the sale, the senior vice president now owns 179,158 shares of the company's stock, valued at approximately $40,072,269.86. This trade represents a 17.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the transaction, the chief executive officer now owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. This represents a 3.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 182,451 shares of company stock worth $40,818,720 in the last quarter. Insiders own 0.06% of the company's stock.

Apple 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.