Independent Wealth Network Inc. Has $5.41 Million Stake in Apple Inc. (NASDAQ:AAPL)

Independent Wealth Network Inc. grew its position in Apple Inc. (NASDAQ:AAPL) by 6.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,617 shares of the iPhone maker’s stock after purchasing an additional 1,280 shares during the period. Apple comprises about 2.2% of Independent Wealth Network Inc.’s portfolio, making the stock its 6th largest position. Independent Wealth Network Inc.’s holdings in Apple were worth $5,413,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Eagle Capital Management LLC boosted its position in shares of Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after buying an additional 272 shares during the period. Baker Ellis Asset Management LLC lifted its stake in Apple by 0.6% in the 4th quarter. Baker Ellis Asset Management LLC now owns 43,183 shares of the iPhone maker’s stock valued at $10,814,000 after acquiring an additional 253 shares in the last quarter. Rolek Wealth Management LLC acquired a new position in Apple during the 4th quarter worth approximately $671,000. Evolution Wealth Advisors LLC grew its stake in shares of Apple by 12.9% during the 4th quarter. Evolution Wealth Advisors LLC now owns 35,089 shares of the iPhone maker’s stock worth $8,791,000 after acquiring an additional 3,998 shares in the last quarter. Finally, Marino Stram & Associates LLC raised its holdings in shares of Apple by 0.5% in the fourth quarter. Marino Stram & Associates LLC now owns 44,158 shares of the iPhone maker’s stock valued at $11,058,000 after purchasing an additional 219 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Trading Down 3.4 %

NASDAQ AAPL opened at $209.68 on Friday. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The business has a 50 day simple moving average of $235.12 and a 200 day simple moving average of $233.83. The stock 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.

Apple (NASDAQ:AAPL) last released its earnings results 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 net margin of 24.30% and a return on equity of 160.83%. Research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders 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 dividend yield of 0.48%. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Insider Activity

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now owns 389,944 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. DA Davidson set a $290.00 price objective on shares of Apple in a research note on Friday, January 31st. Citigroup raised their price objective on Apple from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Sanford C. Bernstein boosted their target price on Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Loop Capital downgraded shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price target on the stock. in a research note on Tuesday, January 21st. Finally, Redburn Partners set a $230.00 price objective on shares of Apple in a research report on Friday, January 31st. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $243.22.

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.