Innova Wealth Partners Purchases 7,603 Shares of Apple Inc. (NASDAQ:AAPL)

Innova Wealth Partners lifted its position in Apple Inc. (NASDAQ:AAPL) by 303.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,106 shares of the iPhone maker’s stock after purchasing an additional 7,603 shares during the quarter. Apple accounts for approximately 1.6% of Innova Wealth Partners’ holdings, making the stock its 18th biggest holding. Innova Wealth Partners’ holdings in Apple were worth $2,531,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AAPL. Bull Oak Capital LLC lifted its position in Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares in the last quarter. Hershey Financial Advisers LLC acquired a new position in Apple during the 2nd quarter worth 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 buying an additional 144 shares in the last quarter. SPX Gestao de Recursos Ltda acquired a new position in Apple during the 3rd quarter worth about $71,000. Finally, Teachers Insurance & Annuity Association of America acquired a new position in Apple during the 3rd quarter worth about $77,000. Institutional investors own 67.73% of the company’s stock.

Insider Transactions at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of AAPL opened at $244.47 on Wednesday. The stock has a market capitalization of $3.67 trillion, a P/E ratio of 38.80, a P/E/G ratio of 2.32 and a beta of 1.20. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10. The company has a 50 day moving average of $240.66 and a 200-day moving average of $231.94. 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 issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share 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, equities research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. Apple’s dividend payout ratio is currently 15.87%.

Analyst Ratings Changes

A number of research firms have issued reports on AAPL. Jefferies Financial Group downgraded shares of Apple from a “hold” rating to an “underperform” rating and cut their target price for the company from $211.84 to $200.75 in a research report on Thursday, January 30th. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Oppenheimer downgraded shares of Apple from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. TD Cowen restated a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Finally, 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 report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average price target of $242.52.

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.