Apple Inc. (NASDAQ:AAPL) is Raleigh Capital Management Inc.’s 3rd Largest Position

Raleigh Capital Management Inc. raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 8.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,362 shares of the iPhone maker’s stock after purchasing an additional 2,425 shares during the period. Apple accounts for about 2.9% of Raleigh Capital Management Inc.’s portfolio, making the stock its 3rd biggest position. Raleigh Capital Management Inc.’s holdings in Apple were worth $7,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. O Connor Financial Group LLC grew its position in Apple by 1.2% during the 4th quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock worth $896,000 after purchasing an additional 41 shares during the period. 1620 Investment Advisors Inc. grew its position in Apple by 0.5% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock worth $2,249,000 after purchasing an additional 45 shares during the period. Carolina Wealth Advisors LLC grew its position in Apple by 1.3% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock worth $813,000 after purchasing an additional 46 shares during the period. Menard Financial Group LLC grew its position in Apple by 0.4% during the 3rd quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker’s stock worth $2,848,000 after purchasing an additional 48 shares during the period. Finally, Hanseatic Management Services Inc. grew its position in Apple by 1.3% during the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker’s stock worth $945,000 after purchasing an additional 48 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a research report on Wednesday, February 19th. TD Cowen reissued a “buy” rating on shares of Apple in a research note on Tuesday, January 28th. Redburn Partners set a $230.00 target price on shares of Apple in a research note on Friday, January 31st. Loop Capital lowered shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 target price on the stock. in a research note on Tuesday, January 21st. Finally, Barclays increased their target price on shares of Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $243.22.

Apple Stock Down 3.4 %

Shares of NASDAQ AAPL opened at $209.68 on Friday. The company has a 50 day simple moving average of $235.12 and a 200-day simple moving average of $233.83. The company has a market capitalization of $3.15 trillion, a P/E ratio of 33.28, a P/E/G ratio of 2.44 and a beta of 1.18. 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 Inc. has a 1 year low of $164.08 and a 1 year high of $260.10.

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

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.48%. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Insider Activity 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 owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by insiders.

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.