BetterWealth LLC Increases Stake in Apple Inc. (NASDAQ:AAPL)

BetterWealth LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 25.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 177,880 shares of the iPhone maker’s stock after acquiring an additional 36,631 shares during the quarter. Apple comprises approximately 12.3% of BetterWealth LLC’s investment portfolio, making the stock its 2nd biggest holding. BetterWealth LLC’s holdings in Apple were worth $44,545,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AAPL. Bull Oak Capital LLC boosted its position in Apple by 252.3% in the 3rd 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. Christopher J. Hasenberg Inc lifted its stake in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after acquiring an additional 144 shares during the period. SPX Gestao de Recursos Ltda bought a new stake in Apple during the 3rd quarter worth about $71,000. Teachers Insurance & Annuity Association of America acquired a new position in Apple during the 3rd quarter valued at about $77,000. Finally, ARK Investment Management LLC bought a new position in shares of Apple in the 3rd quarter valued at about $110,000. 67.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on AAPL. Citigroup increased their price objective on shares of Apple from $255.00 to $275.00 and gave the company a “buy” rating in a report on Friday, January 31st. Bank of America lifted their price objective on Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Rosenblatt Securities reissued a “buy” rating and issued a $262.00 target price on shares of Apple in a research note on Monday, January 27th. Moffett Nathanson restated a “sell” rating and set a $188.00 target price (down previously from $202.00) on shares of Apple in a report on Tuesday, January 7th. Finally, Evercore ISI upped their price target on Apple from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Tuesday, March 18th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average price target of $243.65.

Apple Stock Up 1.9 %

Shares of AAPL opened at $218.27 on Monday. The firm has a market cap of $3.28 trillion, a P/E ratio of 34.65, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. Apple Inc. has a 52 week low of $164.08 and a 52 week high of $260.10. The firm’s 50-day simple moving average is $231.82 and its 200 day simple moving average is $233.42.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio is currently 15.87%.

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.