Pines Wealth Management LLC Makes New $9.46 Million Investment in Apple Inc. (NASDAQ:AAPL)

Pines Wealth Management LLC acquired a new stake 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 and Exchange Commission. The institutional investor acquired 39,920 shares of the iPhone maker’s stock, valued at approximately $9,455,000. Apple comprises about 4.1% of Pines Wealth Management LLC’s portfolio, making the stock its largest position.

Other institutional investors have also made changes to their positions in the company. Bull Oak Capital LLC lifted its holdings 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 buying an additional 111 shares during the last quarter. Hershey Financial Advisers LLC bought a new position in shares of Apple during the 2nd quarter worth about $42,000. Christopher J. Hasenberg Inc raised its position in shares of 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 buying an additional 144 shares during the last quarter. SPX Gestao de Recursos Ltda bought a new stake in shares of Apple in the third quarter valued at about $71,000. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in Apple during the third quarter worth about $77,000. 67.73% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Apple news, 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 sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Redburn Partners set a $230.00 price objective on Apple in a report on Friday, January 31st. Wedbush reiterated an “outperform” rating and set a $325.00 price target on shares of Apple in a research note on Thursday, January 23rd. Jefferies Financial Group reissued an “underperform” rating on shares of Apple in a report on Wednesday, February 19th. Raymond James lifted their target price on shares of Apple to $250.00 and gave the company a “buy” rating in a research report on Monday, January 20th. Finally, JPMorgan Chase & Co. increased their price target on shares of Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $243.88.

Apple Price Performance

AAPL opened at $247.04 on Wednesday. The company has a fifty day moving average price of $240.26 and a two-hundred day moving average price of $233.34. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The firm has a market capitalization of $3.71 trillion, a PE ratio of 39.21, a P/E/G ratio of 2.44 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 released its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 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%. As a group, analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors 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 is 15.87%.

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.