Penn Davis Mcfarland Inc. Purchases 621 Shares of Apple Inc. (NASDAQ:AAPL)

Penn Davis Mcfarland Inc. boosted its position in Apple Inc. (NASDAQ:AAPL) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 186,402 shares of the iPhone maker’s stock after buying an additional 621 shares during the quarter. Apple makes up about 5.1% of Penn Davis Mcfarland Inc.’s portfolio, making the stock its 5th biggest position. Penn Davis Mcfarland Inc.’s holdings in Apple were worth $46,679,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. Bull Oak Capital LLC grew its stake in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares in the last quarter. Hershey Financial Advisers LLC bought a new position in Apple in the second quarter valued at approximately $42,000. Christopher J. Hasenberg Inc grew its stake in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares in the last quarter. SPX Gestao de Recursos Ltda bought a new position in Apple in the third quarter valued at approximately $71,000. Finally, Teachers Insurance & Annuity Association of America bought a new position in Apple in the third quarter valued at approximately $77,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AAPL. Evercore ISI raised their price target on Apple to $260.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Barclays raised their price target on Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Jefferies Financial Group restated an “underperform” rating on shares of Apple in a research note on Wednesday, February 19th. KeyCorp reiterated an “underweight” rating and set a $200.00 target price on shares of Apple in a research note on Friday, January 31st. Finally, Citigroup lifted their target price on Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. 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 given a strong buy rating to the stock. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $243.88.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction on 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 sale, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Apple Price Performance

Apple stock opened at $239.07 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. Apple Inc. has a 52 week low of $164.08 and a 52 week high of $260.10. The stock has a market capitalization of $3.59 trillion, a P/E ratio of 37.95, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. The stock has a fifty day moving average of $237.56 and a 200-day moving average of $234.08.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS 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%. On average, sell-side analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.42%. Apple’s dividend 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.