M Wealth Management LLC Invests $2.08 Million in Apple Inc. (NASDAQ:AAPL)

M Wealth Management LLC acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 8,296 shares of the iPhone maker’s stock, valued at approximately $2,078,000. Apple accounts for 1.9% of M Wealth Management LLC’s portfolio, making the stock its 11th biggest holding.

Several other hedge funds also recently bought and sold shares of AAPL. Drystone LLC purchased a new position in shares of Apple during the fourth quarter worth approximately $25,000. Bull Oak Capital LLC grew its stake in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares in the last quarter. Christopher J. Hasenberg Inc increased its holdings in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the period. SPX Gestao de Recursos Ltda bought a new stake in Apple during the 3rd quarter valued at $71,000. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in shares of Apple in the 3rd quarter worth $77,000. Institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Shares of AAPL opened at $221.53 on Thursday. The firm has a 50-day simple moving average of $231.03 and a two-hundred day simple moving average of $233.35. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. Apple Inc. has a 1-year low of $164.08 and a 1-year high of $260.10. The stock has a market cap of $3.33 trillion, a PE ratio of 35.16, a P/E/G ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) 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%. As a group, analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.45%. Apple’s dividend payout ratio is currently 15.87%.

Analyst Ratings Changes

Several analysts recently weighed in on AAPL shares. Loop Capital downgraded Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective for the company. in a report on Tuesday, January 21st. Monness Crespi & Hardt boosted their price target on shares of Apple to $245.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a research note on Wednesday, February 19th. Argus raised shares of Apple to a “strong-buy” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company lifted their target price on Apple to $275.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $243.65.

About Apple

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.