White Pine Investment CO Boosts Stock Position in Apple Inc. (NASDAQ:AAPL)

White Pine Investment CO boosted its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,039 shares of the iPhone maker's stock after buying an additional 1,486 shares during the quarter. Apple makes up about 3.0% of White Pine Investment CO's holdings, making the stock its 8th largest position. White Pine Investment CO's holdings in Apple were worth $11,028,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Capstone Wealth Management LLC bought a new stake in Apple during the fourth quarter valued at $2,136,000. Aspire Private Capital LLC boosted its stake in Apple by 15.3% during the fourth quarter. Aspire Private Capital LLC now owns 25,713 shares of the iPhone maker's stock valued at $6,439,000 after buying an additional 3,415 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. lifted its stake in Apple by 7.1% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 30,000 shares of the iPhone maker's stock worth $7,513,000 after purchasing an additional 2,000 shares during the last quarter. JBGlobal.com LLC purchased a new position in shares of Apple in the 4th quarter worth about $2,302,000. Finally, Wall Street Financial Group Inc. boosted its holdings in shares of Apple by 29.4% in the 4th quarter. Wall Street Financial Group Inc. now owns 3,101 shares of the iPhone maker's stock worth $777,000 after purchasing an additional 704 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Performance

Shares of AAPL opened at $220.84 on Wednesday. The business's fifty day simple moving average is $236.47 and its two-hundred day simple moving average is $234.12. 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 Inc. has a 12 month low of $164.08 and a 12 month high of $260.10. The company 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.

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Apple (NASDAQ:AAPL - Get Free Report) last released 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%. Research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. Apple's dividend payout ratio is currently 15.87%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AAPL shares. Citigroup upped their price objective on Apple from $255.00 to $275.00 and gave the stock a "buy" rating in a report on Friday, January 31st. DA Davidson set a $290.00 price objective on Apple in a report on Friday, January 31st. TD Cowen reiterated a "buy" rating on shares of Apple in a report on Tuesday, January 28th. Monness Crespi & Hardt upped their price objective on Apple to $245.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Finally, Jefferies Financial Group reiterated an "underperform" rating on shares of Apple in a report on Wednesday, February 19th. Four 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $243.88.

Insider Buying and Selling

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now directly owns 389,944 shares of the company's stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is owned by insiders.

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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