Drive Wealth Management LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 1.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 63,498 shares of the iPhone maker’s stock after buying an additional 687 shares during the period. Apple makes up about 3.9% of Drive Wealth Management LLC’s investment portfolio, making the stock its 4th biggest position. Drive Wealth Management LLC’s holdings in Apple were worth $14,795,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. 1620 Investment Advisors Inc. lifted its holdings in Apple by 0.5% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock valued at $2,249,000 after acquiring an additional 45 shares during the last quarter. Carolina Wealth Advisors LLC boosted its position in shares of Apple by 1.3% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after purchasing an additional 46 shares during the period. Verus Financial Partners Inc. increased its stake in Apple by 0.3% in the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after purchasing an additional 48 shares in the last quarter. Brown Financial Advisory raised its holdings in Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after buying an additional 50 shares during the period. Finally, Core Wealth Management Inc. boosted its holdings in shares of Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after buying an additional 50 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.
Apple Price Performance
Shares of AAPL stock opened at $222.78 on Monday. The firm has a market cap of $3.35 trillion, a price-to-earnings ratio of 36.64, a P/E/G ratio of 2.19 and a beta of 1.20. The stock’s fifty day simple moving average is $240.93 and its 200 day simple moving average is $230.70. Apple Inc. has a one year low of $164.07 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.
Apple Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.
Analysts Set New Price Targets
A number of equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Apple in a research note on Tuesday, January 21st. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Barclays cut their price objective on shares of Apple from $184.00 to $183.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 22nd. Wells Fargo & Company raised their price target on shares of Apple to $275.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a report on Friday, October 25th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $238.05.
Check Out Our Latest Research Report on AAPL
Insider Buying and Selling
In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.
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.
Featured Articles
- Five stocks we like better than Apple
- Breakout Stocks: What They Are and How to Identify Them
- MP Materials: Rare Earth Elements Powering the EV Boom
- Diversification Can Smooth Returns And Mitigate Portfolio Risk
- Verizon’s Turnaround Gains Traction: New Highs Are Likely in 2025
- Investing In Preferred Stock vs. Common Stock
- Bloom Energy: Powering the Future With Decentralized Energy
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL – Free Report).
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.