Kaufman Rossin Wealth LLC Makes New $1.07 Million Investment in Apple Inc. (NASDAQ:AAPL)

Kaufman Rossin Wealth LLC bought a new stake in Apple Inc. (NASDAQ:AAPL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,262 shares of the iPhone maker’s stock, valued at approximately $1,067,000. Apple accounts for 1.1% of Kaufman Rossin Wealth LLC’s investment portfolio, making the stock its 16th biggest position.

Other hedge funds have also modified their holdings of the company. High Net Worth Advisory Group LLC lifted its stake in Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after acquiring an additional 1,066 shares in the last quarter. Amara Financial LLC. acquired a new position in Apple in the 3rd quarter valued at about $288,000. Sterling Investment Counsel LLC increased its stake in Apple by 3.8% during the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after purchasing an additional 2,565 shares during the period. Silicon Valley Capital Partners lifted its position in shares of Apple by 12.8% during the third quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock worth $59,122,000 after purchasing an additional 28,799 shares in the last quarter. Finally, Catalyst Financial Partners LLC boosted its stake in shares of Apple by 4.2% in the third quarter. Catalyst Financial Partners LLC now owns 96,589 shares of the iPhone maker’s stock valued at $22,505,000 after purchasing an additional 3,935 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Price Performance

Apple stock opened at $220.73 on Tuesday. The firm has a market capitalization of $3.32 trillion, a PE ratio of 35.04, a P/E/G ratio of 2.44 and a beta of 1.18. 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 $231.54 and its 200 day simple moving average is $233.41. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating 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, equities research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Analyst Ratings Changes

Several research firms have commented on AAPL. Argus upgraded shares of Apple to a “strong-buy” rating in a research note on Friday, January 31st. Evercore ISI increased their price target on Apple from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Tuesday, March 18th. KeyCorp reissued an “underweight” rating and set a $200.00 price objective on shares of Apple in a research report on Friday, January 31st. Maxim Group upped their target price on shares of Apple to $215.00 and gave the stock a “hold” rating in a research note on Friday, February 21st. Finally, Sanford C. Bernstein lifted their price target on shares of Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $243.65.

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.