Apple Inc. (NASDAQ:AAPL) Shares Purchased by Spire Wealth Management

Spire Wealth Management raised its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 558,254 shares of the iPhone maker's stock after purchasing an additional 28,404 shares during the period. Apple comprises 4.3% of Spire Wealth Management's investment portfolio, making the stock its 2nd biggest position. Spire Wealth Management's holdings in Apple were worth $139,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Drystone LLC acquired a new stake in shares of Apple in the 4th quarter valued at about $25,000. Bull Oak Capital LLC lifted its stake in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock valued at $36,000 after buying an additional 111 shares during the last quarter. SPX Gestao de Recursos Ltda acquired a new stake in shares of Apple in the third quarter valued at approximately $71,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Apple in the third quarter valued at approximately $77,000. Finally, ARK Investment Management LLC acquired a new position in shares of Apple in the 3rd quarter valued at $110,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on AAPL shares. Barclays raised their price objective on shares of Apple from $183.00 to $197.00 and gave the stock an "underweight" rating in a research report on Friday, January 31st. UBS Group raised their price target on Apple to $236.00 and gave the stock a "hold" rating in a report on Tuesday, February 25th. Jefferies Financial Group reaffirmed an "underperform" rating on shares of Apple in a research note on Wednesday, February 19th. Redburn Partners set a $230.00 target price on Apple in a research note on Friday, January 31st. Finally, Bank of America boosted their target price on Apple from $253.00 to $265.00 and gave the company a "buy" rating in a report on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and an average target price of $245.52.

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Apple Stock Performance

Apple stock traded up $1.06 during trading hours on Tuesday, hitting $223.19. The company had a trading volume of 36,357,553 shares, compared to its average volume of 54,820,636. 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 $3.35 trillion, a PE ratio of 35.43, a PEG ratio of 2.44 and a beta of 1.18. The firm has a 50-day moving average of $230.54 and a 200 day moving average of $233.42. 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 issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (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 expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. Apple's payout ratio is presently 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.