Destiny Wealth Partners LLC Buys 2,576 Shares of Apple Inc. (NASDAQ:AAPL)

Destiny Wealth Partners LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 70,169 shares of the iPhone maker’s stock after buying an additional 2,576 shares during the period. Apple accounts for approximately 2.9% of Destiny Wealth Partners LLC’s portfolio, making the stock its 6th largest holding. Destiny Wealth Partners LLC’s holdings in Apple were worth $17,572,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in AAPL. AMF Tjanstepension AB boosted its holdings in Apple by 21.1% in the third quarter. AMF Tjanstepension AB now owns 3,380,064 shares of the iPhone maker’s stock valued at $787,631,000 after purchasing an additional 588,427 shares during the period. Sendero Wealth Management LLC raised its position in Apple by 2.0% in the 3rd quarter. Sendero Wealth Management LLC now owns 63,999 shares of the iPhone maker’s stock valued at $14,912,000 after purchasing an additional 1,243 shares in the last quarter. Selective Wealth Management Inc. boosted its stake in shares of Apple by 29.0% in the 3rd quarter. Selective Wealth Management Inc. now owns 28,389 shares of the iPhone maker’s stock valued at $6,409,000 after buying an additional 6,385 shares during the period. Pinnacle Bancorp Inc. grew its position in shares of Apple by 1.0% during the third quarter. Pinnacle Bancorp Inc. now owns 33,530 shares of the iPhone maker’s stock worth $7,812,000 after buying an additional 333 shares in the last quarter. Finally, LifePro Asset Management raised its holdings in Apple by 9.9% in the third quarter. LifePro Asset Management now owns 8,313 shares of the iPhone maker’s stock valued at $1,937,000 after acquiring an additional 752 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Ratings Changes

AAPL has been the topic of a number of recent analyst reports. Argus raised shares of Apple to a “strong-buy” rating in a research report on Friday, January 31st. TD Cowen reissued a “buy” rating on shares of Apple in a report on Tuesday, January 28th. Wells Fargo & Company raised their price target on Apple to $275.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Jefferies Financial Group reaffirmed an “underperform” rating on shares of Apple in a research report on Wednesday, February 19th. Finally, Raymond James boosted their target price on Apple to $250.00 and gave the stock a “buy” rating in a research note on Monday, January 20th. Four investment analysts have rated the stock with a sell rating, nine have assigned 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.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $245.52.

Apple Stock Down 2.7 %

AAPL opened at $217.90 on Friday. The business has a 50 day simple moving average of $230.70 and a 200-day simple moving average of $233.26. Apple Inc. has a 12 month low of $164.08 and a 12 month high of $260.10. The stock has a market capitalization of $3.27 trillion, a P/E ratio of 34.59, a P/E/G ratio of 2.44 and a beta of 1.18. 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 (NASDAQ:AAPL) last issued its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 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%. On average, equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

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

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.