Black Point Wealth Management Has $1.42 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Black Point Wealth Management trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 9.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,665 shares of the iPhone maker’s stock after selling 600 shares during the period. Apple comprises about 1.6% of Black Point Wealth Management’s holdings, making the stock its 8th biggest holding. Black Point Wealth Management’s holdings in Apple were worth $1,419,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Apple by 254.9% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 107,030 shares of the iPhone maker’s stock worth $22,543,000 after purchasing an additional 76,870 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Apple by 11.6% in the 2nd quarter. NewEdge Advisors LLC now owns 2,239,346 shares of the iPhone maker’s stock valued at $471,651,000 after buying an additional 232,933 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Apple by 2.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,475,650 shares of the iPhone maker’s stock valued at $732,062,000 after purchasing an additional 92,821 shares in the last quarter. Front Row Advisors LLC increased its position in shares of Apple by 1.3% during the second quarter. Front Row Advisors LLC now owns 145,035 shares of the iPhone maker’s stock worth $30,547,000 after acquiring an additional 1,797 shares in the last quarter. Finally, Granite FO LLC acquired a new stake in shares of Apple in the 2nd quarter valued at about $1,942,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on AAPL. Evercore ISI raised their target price on shares of Apple to $260.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. UBS Group lifted their target price on shares of Apple to $236.00 and gave the stock a “hold” rating in a report on Tuesday, February 25th. Moffett Nathanson reiterated a “sell” rating and set a $188.00 price objective (down previously from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Monness Crespi & Hardt boosted their target price on shares of Apple to $245.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, Loop Capital lowered shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price target on the stock. in a research report on Tuesday, January 21st. Four research 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $243.22.

Insider Buying and Selling

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction 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 $97,474,301.68. This trade 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 available through this link. 0.06% of the stock is currently owned by insiders.

Apple Stock Up 1.8 %

AAPL stock opened at $213.49 on Friday. The stock has a market cap of $3.21 trillion, a P/E ratio of 33.89, a P/E/G ratio of 2.44 and a beta of 1.18. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock’s fifty day simple moving average is $234.52 and its two-hundred day simple moving average is $233.77. Apple Inc. has a 1-year low of $164.08 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share 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%. Analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.47%. Apple’s payout ratio is currently 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.