Platte River Wealth Advisors LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 65,765 shares of the iPhone maker’s stock after selling 1,165 shares during the period. Apple makes up about 3.6% of Platte River Wealth Advisors LLC’s portfolio, making the stock its 7th biggest position. Platte River Wealth Advisors LLC’s holdings in Apple were worth $8,545,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of AAPL. Wealthspire Advisors LLC grew its position in Apple by 42.8% during the 2nd quarter. Wealthspire Advisors LLC now owns 299,829 shares of the iPhone maker’s stock worth $40,993,000 after acquiring an additional 89,865 shares during the last quarter. Eagle Bay Advisors LLC grew its position in Apple by 35.7% during the 2nd quarter. Eagle Bay Advisors LLC now owns 25,608 shares of the iPhone maker’s stock worth $3,501,000 after acquiring an additional 6,735 shares during the last quarter. Callan Capital LLC grew its position in Apple by 1.6% during the 2nd quarter. Callan Capital LLC now owns 85,226 shares of the iPhone maker’s stock worth $11,652,000 after acquiring an additional 1,322 shares during the last quarter. Bennett Selby Investments LP grew its position in Apple by 0.3% during the 3rd quarter. Bennett Selby Investments LP now owns 151,793 shares of the iPhone maker’s stock worth $20,978,000 after acquiring an additional 450 shares during the last quarter. Finally, Blueshift Asset Management LLC bought a new stake in Apple during the 3rd quarter worth $563,000. Institutional investors own 57.60% of the company’s stock.
Analyst Ratings Changes
A number of brokerages recently weighed in on AAPL. Fundamental Research restated a “buy” rating and set a $168.00 price objective on shares of Apple in a research report on Tuesday, February 14th. Cowen reduced their price objective on Apple from $200.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday, February 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $195.00 target price on shares of Apple in a report on Friday, February 3rd. Evercore ISI reaffirmed an “outperform” rating and set a $190.00 target price on shares of Apple in a report on Monday, February 6th. Finally, Cowen cut their target price on Apple from $200.00 to $195.00 and set an “outperform” rating on the stock in a report on Friday, February 3rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $168.24.
Apple Stock Performance
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The iPhone maker reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.05). The company had revenue of $117.15 billion for the quarter, compared to the consensus estimate of $121.67 billion. Apple had a return on equity of 163.45% and a net margin of 24.56%. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.10 earnings per share. Equities analysts forecast that Apple Inc. will post 6.04 earnings per share for the current fiscal year.
Apple Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 13th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, February 10th. This is a positive change from Apple’s previous quarterly dividend of $0.17. This represents a $0.92 annualized dividend and a dividend yield of 0.57%. Apple’s dividend payout ratio is currently 15.62%.
Insider Activity
In other news, COO Jeffrey E. Williams sold 187,730 shares of the company’s stock in a transaction that occurred on Wednesday, March 22nd. The stock was sold at an average price of $159.76, for a total value of $29,991,744.80. Following the completion of the transaction, the chief operating officer now directly owns 489,816 shares of the company’s stock, valued at $78,253,004.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.
Apple Company Profile
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.
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