Biltmore Wealth Management LLC Has $1.69 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Biltmore Wealth Management LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,746 shares of the iPhone maker’s stock after selling 81 shares during the quarter. Apple accounts for 0.7% of Biltmore Wealth Management LLC’s investment portfolio, making the stock its 18th largest holding. Biltmore Wealth Management LLC’s holdings in Apple were worth $1,689,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AAPL. Crane Advisory LLC boosted its position in shares of Apple by 2.7% during the 4th quarter. Crane Advisory LLC now owns 80,579 shares of the iPhone maker’s stock worth $19,610,000 after purchasing an additional 2,108 shares in the last quarter. Tlwm boosted its holdings in Apple by 2.4% in the fourth quarter. Tlwm now owns 12,978 shares of the iPhone maker’s stock worth $3,250,000 after acquiring an additional 310 shares in the last quarter. Cardinal Point Capital Management ULC grew its stake in Apple by 22.1% in the fourth quarter. Cardinal Point Capital Management ULC now owns 35,031 shares of the iPhone maker’s stock valued at $8,773,000 after acquiring an additional 6,329 shares during the period. Wallace Advisory Group LLC increased its holdings in shares of Apple by 42.3% during the fourth quarter. Wallace Advisory Group LLC now owns 17,543 shares of the iPhone maker’s stock valued at $4,087,000 after acquiring an additional 5,212 shares in the last quarter. Finally, Cypress Financial Planning LLC raised its position in shares of Apple by 11.4% during the fourth quarter. Cypress Financial Planning LLC now owns 9,105 shares of the iPhone maker’s stock worth $2,280,000 after purchasing an additional 932 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Insider Activity at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction 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 $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Apple Stock Up 0.6 %

Apple stock opened at $247.10 on Tuesday. The firm has a 50 day simple moving average of $240.39 and a 200 day simple moving average of $233.12. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The firm has a market capitalization of $3.71 trillion, a price-to-earnings ratio of 39.22, a P/E/G ratio of 2.44 and a beta of 1.20.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating 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%. On average, analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a $0.25 dividend. 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 0.40%. Apple’s dividend payout ratio (DPR) is currently 15.87%.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several research reports. Raymond James lifted their price target on shares of Apple to $250.00 and gave the company a “buy” rating in a research report on Monday, January 20th. TD Cowen reissued a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Moffett Nathanson reaffirmed a “sell” rating and issued a $188.00 price target (down previously from $202.00) on shares of Apple in a research report on Tuesday, January 7th. UBS Group set a $270.00 price objective on Apple in a report on Friday, January 31st. Finally, Jefferies Financial Group restated an “underperform” rating on shares of Apple in a report on Wednesday, February 19th. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.85.

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.