Red Spruce Capital LLC Makes New $331,000 Investment in Apple Inc. (NASDAQ:AAPL)

Red Spruce Capital LLC purchased a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 1,323 shares of the iPhone maker's stock, valued at approximately $331,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bull Oak Capital LLC raised its stake in shares of Apple by 252.3% in the 3rd 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 bought a new position in shares of Apple in the 2nd quarter valued at approximately $42,000. Christopher J. Hasenberg Inc raised its stake in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker's stock valued at $69,000 after acquiring an additional 144 shares in the last quarter. SPX Gestao de Recursos Ltda bought a new position in shares of Apple in the 3rd quarter valued at approximately $71,000. Finally, Teachers Insurance & Annuity Association of America bought a new position in shares of Apple in the 3rd quarter valued at approximately $77,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Barclays raised 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. TD Cowen reissued a "buy" rating on shares of Apple in a research note on Tuesday, January 28th. Redburn Partners set a $230.00 price target on Apple in a research report on Friday, January 31st. Monness Crespi & Hardt lifted their price target on Apple to $245.00 and gave the stock a "buy" rating in a research report on Wednesday, January 22nd. Finally, Jefferies Financial Group reaffirmed an "underperform" rating on shares of Apple in a research report on Wednesday, February 19th. Four equities research 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $243.88.

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Insider Buying and Selling at Apple

In other Apple 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 value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company's stock.

Apple Price Performance

Shares of AAPL stock opened at $220.84 on Wednesday. The stock's fifty day simple moving average is $236.47 and its 200 day simple moving average is $234.12. 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 one year low of $164.08 and a one year high of $260.10. The firm has a market cap of $3.32 trillion, a price-to-earnings ratio of 35.05, a P/E/G ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL - Get Free Report) last issued 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, analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

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

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