Root Financial Partners LLC Acquires 12,453 Shares of Apple Inc. (NASDAQ:AAPL)

Root Financial Partners LLC increased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 19.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 75,023 shares of the iPhone maker's stock after purchasing an additional 12,453 shares during the period. Apple comprises about 2.3% of Root Financial Partners LLC's investment portfolio, making the stock its 13th biggest holding. Root Financial Partners LLC's holdings in Apple were worth $18,787,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Walkner Condon Financial Advisors LLC grew its position in Apple by 0.6% during the fourth quarter. Walkner Condon Financial Advisors LLC now owns 58,415 shares of the iPhone maker's stock valued at $14,628,000 after purchasing an additional 356 shares in the last quarter. Family Capital Management Inc. grew its stake in shares of Apple by 0.3% in the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock valued at $4,235,000 after buying an additional 48 shares in the last quarter. Values Added Financial LLC raised its holdings in shares of Apple by 6.5% during the 4th quarter. Values Added Financial LLC now owns 28,275 shares of the iPhone maker's stock valued at $7,081,000 after purchasing an additional 1,714 shares in the last quarter. Figure 8 Investment Strategies LLC bought a new position in Apple during the fourth quarter valued at about $7,738,000. Finally, Newport Capital Group LLC lifted its position in shares of Apple by 3.1% in the fourth quarter. Newport Capital Group LLC now owns 6,982 shares of the iPhone maker's stock worth $1,749,000 after buying an additional 212 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

Shares of AAPL stock traded up $2.52 on Friday, hitting $196.79. 51,328,536 shares of the stock traded hands, compared to its average volume of 56,825,645. The company has a market capitalization of $2.96 trillion, a PE ratio of 31.24, a PEG ratio of 2.44 and a beta of 1.26. Apple Inc. has a 1-year low of $164.77 and a 1-year high of $260.10. The company's fifty day moving average is $219.65 and its 200 day moving average is $230.08. 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 (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid 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 is presently 15.87%.

Insider Buying and Selling at Apple

In related news, COO Jeffrey E. Williams sold 35,493 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the sale, the chief operating officer now directly owns 390,059 shares in the company, valued at approximately $87,377,116.59. This trade represents a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the transaction, the chief executive officer now directly owns 3,280,295 shares in the company, valued at $733,637,976.75. The trade was a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 182,451 shares of company stock valued at $40,818,720. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on AAPL. JPMorgan Chase & Co. lowered their price target on Apple from $270.00 to $245.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Monness Crespi & Hardt boosted their target price on shares of Apple to $245.00 and gave the stock a "buy" rating in a research report on Wednesday, January 22nd. UBS Group lifted their price objective on Apple to $236.00 and gave the stock a "buy" rating in a research note on Monday, April 14th. Maxim Group raised their target price on Apple to $215.00 and gave the company a "hold" rating in a report on Friday, February 21st. Finally, Redburn Partners set a $230.00 price objective on Apple in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $235.85.

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.