Affinity Wealth Management LLC Increases Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Affinity Wealth Management LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,830 shares of the iPhone maker’s stock after buying an additional 670 shares during the quarter. Apple accounts for approximately 1.2% of Affinity Wealth Management LLC’s holdings, making the stock its 24th largest holding. Affinity Wealth Management LLC’s holdings in Apple were worth $6,719,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Crescent Grove Advisors LLC raised its holdings in shares of Apple by 0.4% during the 4th quarter. Crescent Grove Advisors LLC now owns 80,667 shares of the iPhone maker’s stock valued at $20,201,000 after buying an additional 309 shares during the period. Marshall Financial Group LLC grew its stake in Apple by 5.6% during the 4th quarter. Marshall Financial Group LLC now owns 59,421 shares of the iPhone maker’s stock valued at $14,880,000 after purchasing an additional 3,126 shares in the last quarter. RTD Financial Advisors Inc. grew its stake in Apple by 17.2% during the 4th quarter. RTD Financial Advisors Inc. now owns 9,026 shares of the iPhone maker’s stock valued at $2,260,000 after purchasing an additional 1,327 shares in the last quarter. Park Edge Advisors LLC grew its stake in Apple by 13.9% during the 4th quarter. Park Edge Advisors LLC now owns 11,287 shares of the iPhone maker’s stock valued at $2,827,000 after purchasing an additional 1,380 shares in the last quarter. Finally, Regency Capital Management Inc. DE grew its stake in Apple by 3.6% during the 4th quarter. Regency Capital Management Inc. DE now owns 29,245 shares of the iPhone maker’s stock valued at $7,323,000 after purchasing an additional 1,029 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Down 0.6 %

Shares of Apple stock opened at $212.69 on Wednesday. The business’s fifty day moving average price is $233.31 and its two-hundred day moving average price is $233.60. 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 company has a market capitalization of $3.20 trillion, a P/E ratio of 33.76, a PEG ratio of 2.44 and a beta of 1.18. Apple Inc. has a 1-year low of $164.08 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL) last announced 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 return on equity of 160.83% and a net margin of 24.30%. As a group, research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.47%. The ex-dividend date was Monday, February 10th. Apple’s payout ratio is currently 15.87%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AAPL shares. Maxim Group raised their price objective on Apple to $215.00 and gave the company a “hold” rating in a research note on Friday, February 21st. Bank of America raised their price objective on Apple from $253.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Argus upgraded Apple to a “strong-buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $262.00 target price on shares of Apple in a research report on Monday, January 27th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $243.65.

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.