Icon Wealth Advisors LLC Has $28.77 Million Position in Apple Inc. (NASDAQ:AAPL)

Icon Wealth Advisors LLC boosted its stake in Apple Inc. (NASDAQ:AAPL) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 123,487 shares of the iPhone maker’s stock after purchasing an additional 2,333 shares during the period. Apple makes up approximately 2.4% of Icon Wealth Advisors LLC’s holdings, making the stock its 10th largest position. Icon Wealth Advisors LLC’s holdings in Apple were worth $28,773,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bull Oak Capital LLC boosted its position in shares of 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 during the period. Hershey Financial Advisers LLC purchased a new stake in Apple in the 2nd quarter worth $42,000. Christopher J. Hasenberg Inc raised its holdings in 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. Teachers Insurance & Annuity Association of America purchased a new position in shares of Apple in the third quarter valued at about $77,000. Finally, ARK Investment Management LLC bought a new position in shares of Apple in the third quarter worth about $110,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on AAPL shares. Monness Crespi & Hardt lifted their price objective on shares of Apple to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. TD Cowen restated a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. KeyCorp reiterated an “underweight” rating and issued a $200.00 target price on shares of Apple in a report on Friday, January 31st. Rosenblatt Securities restated a “buy” rating and set a $262.00 price target on shares of Apple in a report on Monday, January 27th. Finally, Citigroup lifted their price objective on shares of Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $242.52.

Apple Trading Up 0.3 %

Apple stock opened at $233.22 on Friday. The company has a market capitalization of $3.51 trillion, a price-to-earnings ratio of 37.02, a price-to-earnings-growth ratio of 2.36 and a beta of 1.20. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The stock has a 50-day moving average price of $241.49 and a 200 day moving average price of $230.96. 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 posted its 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%. Sell-side analysts anticipate that Apple Inc. will post 7.33 EPS for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Investors of record on Monday, February 10th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. Apple’s dividend payout ratio is currently 15.87%.

Insider Buying and Selling

In other news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

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.