Park Edge Advisors LLC Acquires 1,380 Shares of Apple Inc. (NASDAQ:AAPL)

Park Edge Advisors LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 13.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,287 shares of the iPhone maker’s stock after purchasing an additional 1,380 shares during the quarter. Apple comprises approximately 0.8% of Park Edge Advisors LLC’s portfolio, making the stock its 25th biggest holding. Park Edge Advisors LLC’s holdings in Apple were worth $2,827,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. O Connor Financial Group LLC boosted its holdings in Apple by 1.2% in the fourth quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock valued at $896,000 after acquiring an additional 41 shares in the last quarter. 1620 Investment Advisors Inc. boosted its holdings in Apple by 0.5% in the third quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock valued at $2,249,000 after acquiring an additional 45 shares in the last quarter. Carolina Wealth Advisors LLC boosted its holdings in Apple by 1.3% in the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after acquiring an additional 46 shares in the last quarter. Menard Financial Group LLC boosted its holdings in Apple by 0.4% in the third quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker’s stock valued at $2,848,000 after acquiring an additional 48 shares in the last quarter. Finally, Hanseatic Management Services Inc. boosted its holdings in Apple by 1.3% in the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker’s stock valued at $945,000 after acquiring an additional 48 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Monness Crespi & Hardt lifted their price target on shares of Apple to $245.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Maxim Group lifted their price target on shares of Apple to $215.00 and gave the company a “hold” rating in a report on Friday, February 21st. Loop Capital cut shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price target on the stock. in a report on Tuesday, January 21st. Citigroup boosted their target price on shares of Apple from $255.00 to $275.00 and gave the company a “buy” rating in a report on Friday, January 31st. Finally, Oppenheimer cut shares of Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.65.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $212.69 on Wednesday. Apple Inc. has a fifty-two week low of $164.08 and a fifty-two week high of $260.10. The business has a 50-day simple moving average of $233.31 and a two-hundred day simple moving average of $233.60. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The firm has a market cap of $3.20 trillion, a price-to-earnings ratio of 33.76, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18.

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

Apple Announces Dividend

The firm also recently declared 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. This represents a $1.00 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s payout ratio is currently 15.87%.

Apple 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.