Merit Financial Group LLC boosted its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 18.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 498,135 shares of the iPhone maker’s stock after purchasing an additional 75,995 shares during the quarter. Apple comprises approximately 2.3% of Merit Financial Group LLC’s investment portfolio, making the stock its 8th largest position. Merit Financial Group LLC’s holdings in Apple were worth $64,723,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in AAPL. Robinson Value Management Ltd. acquired a new stake in shares of Apple in the 3rd quarter worth $28,000. Hanseatic Management Services Inc. increased its stake in shares of Apple by 75.4% in the 3rd quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock worth $34,000 after acquiring an additional 107 shares during the last quarter. Cheyne Capital Management UK LLP increased its stake in shares of Apple by 200.0% in the 3rd quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $293,000 after acquiring an additional 550 shares during the last quarter. Ramsey Quantitative Systems acquired a new stake in shares of Apple in the 2nd quarter worth $55,000. Finally, Morgan Dempsey Capital Management LLC acquired a new stake in shares of Apple in the 3rd quarter worth $55,000. 57.60% of the stock is owned by institutional investors and hedge funds.
Apple Trading Down 1.2 %
NASDAQ:AAPL opened at $158.28 on Tuesday. The firm has a market cap of $2.50 trillion, a P/E ratio of 26.87, a PEG ratio of 2.12 and a beta of 1.30. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.76. The stock’s 50 day simple moving average is $149.73 and its 200-day simple moving average is $145.35. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $179.61.
Apple Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 16th. Investors of record on Monday, February 13th were paid a $0.23 dividend. The ex-dividend date was Friday, February 10th. This is an increase from Apple’s previous quarterly dividend of $0.17. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.58%. Apple’s payout ratio is 15.62%.
Insider Activity at Apple
In related news, COO Jeffrey E. Williams sold 187,730 shares of Apple 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 sale, the chief operating officer now directly owns 489,816 shares in the company, valued at $78,253,004.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.
Analyst Upgrades and Downgrades
AAPL has been the subject of a number of recent research reports. Evercore ISI reaffirmed an “outperform” rating and issued a $190.00 target price on shares of Apple in a research note on Monday, February 6th. Piper Sandler reiterated an “overweight” rating and set a $195.00 price target on shares of Apple in a report on Friday, February 3rd. National Bank Financial lowered their price target on Apple to $54.00 and set an “outperform” rating for the company in a report on Friday, January 20th. Bank of America increased their price target on Apple from $153.00 to $158.00 in a report on Friday, February 3rd. Finally, Barclays raised their target price on Apple from $133.00 to $145.00 and gave the company an “equal weight” rating in a report on Friday, February 3rd. Two 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.24.
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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