Apple Inc. (NASDAQ:AAPL) Shares Purchased by Arrowroot Family Office LLC

Arrowroot Family Office LLC grew its position in shares of Apple Inc. (NASDAQ:AAPL) by 9.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,335 shares of the iPhone maker’s stock after acquiring an additional 1,145 shares during the quarter. Apple comprises 1.8% of Arrowroot Family Office LLC’s portfolio, making the stock its 17th biggest position. Arrowroot Family Office LLC’s holdings in Apple were worth $3,107,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Bull Oak Capital LLC lifted its stake in shares of Apple by 252.3% during 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. Hershey Financial Advisers LLC purchased a new stake in shares of Apple during the 2nd quarter valued at about $42,000. Christopher J. Hasenberg Inc lifted its position 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 acquiring an additional 144 shares in the last quarter. Teachers Insurance & Annuity Association of America purchased a new position in Apple in the 3rd quarter worth approximately $77,000. Finally, ARK Investment Management LLC acquired a new stake in Apple in the third quarter valued at approximately $110,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Loop Capital cut shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 target price on the stock. in a research report on Tuesday, January 21st. Maxim Group upped their price objective on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research report on Friday, November 1st. The Goldman Sachs Group raised their target price on Apple from $280.00 to $294.00 and gave the company a “buy” rating in a research note on Friday, January 31st. KeyCorp reiterated an “underweight” rating and issued a $200.00 price target on shares of Apple in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. raised their price objective on Apple from $260.00 to $270.00 and gave the company an “overweight” 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average target price of $242.52.

Insider Activity at Apple

In other news, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’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 transaction of $24,997,000.00. Following 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 position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $227.63 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The firm’s 50 day moving average is $241.45 and its two-hundred day moving average is $230.97. The firm has a market capitalization of $3.42 trillion, a P/E ratio of 36.13, a PEG 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.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Analysts anticipate that Apple Inc. will post 7.33 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 13th. Investors of record on Monday, February 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, February 10th. Apple’s 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.