Red Door Wealth Management LLC Acquires 16,040 Shares of Apple Inc. (NASDAQ:AAPL)

Red Door Wealth Management LLC raised its holdings in Apple Inc. (NASDAQ:AAPL) by 13.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 136,889 shares of the iPhone maker’s stock after acquiring an additional 16,040 shares during the quarter. Apple makes up about 5.3% of Red Door Wealth Management LLC’s portfolio, making the stock its 2nd largest holding. Red Door Wealth Management LLC’s holdings in Apple were worth $34,280,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of AAPL. Cedar Point Capital Partners LLC grew its stake in shares of Apple by 0.8% in the fourth quarter. Cedar Point Capital Partners LLC now owns 6,805 shares of the iPhone maker’s stock worth $1,704,000 after purchasing an additional 56 shares during the last quarter. Market Street Wealth Management Advisors LLC lifted its holdings in Apple by 15.0% during the 4th quarter. Market Street Wealth Management Advisors LLC now owns 14,065 shares of the iPhone maker’s stock worth $3,522,000 after buying an additional 1,833 shares during the period. Baron Silver Stevens Financial Advisors LLC grew its position in shares of Apple by 2.9% in the 4th quarter. Baron Silver Stevens Financial Advisors LLC now owns 43,829 shares of the iPhone maker’s stock valued at $10,976,000 after buying an additional 1,232 shares during the last quarter. Avior Wealth Management LLC increased its stake in shares of Apple by 15.8% in the fourth quarter. Avior Wealth Management LLC now owns 196,440 shares of the iPhone maker’s stock valued at $49,168,000 after buying an additional 26,761 shares during the period. Finally, Beacon Investment Advisory Services Inc. raised its position in shares of Apple by 0.4% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 322,192 shares of the iPhone maker’s stock worth $80,683,000 after acquiring an additional 1,436 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several analyst reports. TD Cowen reiterated a “buy” rating on shares of Apple in a report on Tuesday, January 28th. Citigroup upped their price objective on shares of Apple from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Monness Crespi & Hardt lifted their target price on shares of Apple to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their target price on shares of Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Raymond James increased their price target on Apple to $250.00 and gave the stock a “buy” rating in a report on Monday, January 20th. Four equities 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average target price of $243.22.

Insider Buying and Selling at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the company’s 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 completion of the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.06% of the company’s stock.

Apple Stock Up 1.8 %

AAPL stock opened at $213.49 on Friday. The stock’s 50 day moving average is $234.52 and its 200-day moving average is $233.73. Apple Inc. has a twelve month low of $164.08 and a twelve month high of $260.10. The firm has a market capitalization of $3.21 trillion, a PE ratio of 33.89, a P/E/G ratio of 2.44 and a beta of 1.18. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

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

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s payout ratio is 15.87%.

Apple Company 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.