Hidden Cove Wealth Management LLC Invests $6.48 Million in Apple Inc. (NASDAQ:AAPL)

Hidden Cove Wealth Management LLC purchased a new position in Apple Inc. (NASDAQ:AAPL - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 25,861 shares of the iPhone maker's stock, valued at approximately $6,476,000. Apple makes up approximately 5.3% of Hidden Cove Wealth Management LLC's portfolio, making the stock its 5th biggest holding.

Other hedge funds also recently modified their holdings of the company. Amara Financial LLC. acquired a new position in shares of Apple during the third quarter worth about $288,000. Sterling Investment Counsel LLC lifted its stake in 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 acquiring an additional 2,565 shares in the last quarter. Silicon Valley Capital Partners boosted its position in Apple by 12.8% during the 3rd quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker's stock worth $59,122,000 after acquiring an additional 28,799 shares during the last quarter. Catalyst Financial Partners LLC grew its stake in shares of Apple by 4.2% during the 3rd quarter. Catalyst Financial Partners LLC now owns 96,589 shares of the iPhone maker's stock worth $22,505,000 after acquiring an additional 3,935 shares in the last quarter. Finally, Narwhal Capital Management raised its holdings 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 purchasing an additional 6,711 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Argus upgraded shares of Apple to a "strong-buy" rating in a report on Friday, January 31st. TD Cowen restated a "buy" rating on shares of Apple in a research note on Tuesday, January 28th. Sanford C. Bernstein lifted their target price on Apple from $240.00 to $260.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Loop Capital cut Apple from a "buy" rating to a "hold" rating and set a $230.00 price target for the company. in a research report on Tuesday, January 21st. Finally, KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $235.85.

Apple Price Performance

NASDAQ:AAPL traded up $2.52 during mid-day trading on Friday, reaching $196.79. The stock had a trading volume of 51,328,536 shares, compared to its average volume of 56,825,645. The stock has a 50-day simple moving average of $219.65 and a two-hundred day simple moving average of $230.13. 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 Inc. has a 12 month low of $164.77 and a 12 month high of $260.10. The stock has a market capitalization of $2.96 trillion, a PE ratio of 31.24, a P/E/G ratio of 2.44 and a beta of 1.26.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly 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 return on equity of 160.83% and a net margin of 24.30%. On average, equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Monday, February 10th. Apple's dividend payout ratio (DPR) is presently 15.87%.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 38,822 shares of the 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 transaction, the senior vice president now directly owns 179,158 shares in the company, valued at approximately $40,072,269.86. This trade represents a 17.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 108,136 shares of the business'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 sale, the chief executive officer now owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This trade represents a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 182,451 shares of company stock worth $40,818,720 in the last three months. 0.06% of the stock is owned by corporate 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.