2,952 Shares in Apple Inc. (NASDAQ:AAPL) Acquired by Ridgeline Wealth LLC

Ridgeline Wealth LLC purchased a new position in shares of Apple Inc. (NASDAQ:AAPL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,952 shares of the iPhone maker’s stock, valued at approximately $739,000. Apple comprises approximately 0.6% of Ridgeline Wealth LLC’s holdings, making the stock its 26th biggest position.

Other large investors have also modified their holdings of the company. High Net Worth Advisory Group LLC grew its holdings in Apple by 1.7% in the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after purchasing an additional 1,066 shares during the last quarter. Amara Financial LLC. purchased a new stake in Apple in the 3rd quarter valued at about $288,000. Granite Investment Partners LLC grew its stake in shares of Apple by 2.7% during the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after buying an additional 7,606 shares during the period. Truist Financial Corp raised its holdings in shares of Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after purchasing an additional 126,210 shares during the period. Finally, Sterling Investment Counsel LLC raised its stake in shares of Apple by 3.8% in the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after acquiring an additional 2,565 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Up 1.3 %

Shares of Apple stock opened at $244.60 on Tuesday. The stock’s 50-day moving average is $240.70 and its 200 day moving average is $231.75. Apple Inc. has a one year low of $164.07 and a one year high of $260.10. The firm has a market cap of $3.67 trillion, a price-to-earnings ratio of 38.83, a PEG ratio of 2.32 and a beta of 1.20. 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 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 0.41%. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Insider Buying and Selling at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of Apple 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 directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Barclays upped their target price on shares of Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Needham & Company LLC restated a “buy” rating and set a $260.00 price target on shares of Apple in a research report on Friday, January 31st. Argus raised shares of Apple to a “strong-buy” rating in a research note on Friday, January 31st. Moffett Nathanson restated a “sell” rating and set a $188.00 price objective (down previously from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Finally, UBS Group reiterated a “neutral” rating and issued a $236.00 price target on shares of Apple in a research report on Monday, December 2nd. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $242.52.

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.