Cornerstone Wealth Group LLC Purchases 7,793 Shares of Apple Inc. (NASDAQ:AAPL)

Cornerstone Wealth Group LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 240,458 shares of the iPhone maker’s stock after acquiring an additional 7,793 shares during the period. Apple makes up about 4.9% of Cornerstone Wealth Group LLC’s investment portfolio, making the stock its 4th largest position. Cornerstone Wealth Group LLC’s holdings in Apple were worth $60,215,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bull Oak Capital LLC raised its holdings in Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares during the period. Christopher J. Hasenberg Inc raised its holdings in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after acquiring an additional 144 shares during the period. SPX Gestao de Recursos Ltda purchased a new stake in shares of Apple in the 3rd quarter valued at approximately $71,000. Teachers Insurance & Annuity Association of America acquired a new position in Apple in the 3rd quarter worth approximately $77,000. Finally, ARK Investment Management LLC purchased a new position in Apple during the 3rd quarter worth approximately $110,000. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Down 0.5 %

Shares of AAPL opened at $214.10 on Friday. The company has a market capitalization of $3.22 trillion, a P/E ratio of 33.98, a PEG ratio of 2.44 and a beta of 1.18. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The business’s 50 day simple moving average is $232.19 and its 200-day simple moving average is $233.33. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.

Apple (NASDAQ:AAPL) last announced 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 net margin of 24.30% and a return on equity of 160.83%. As a group, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio (DPR) is currently 15.87%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $262.00 target price on shares of Apple in a research note on Monday, January 27th. Bank of America boosted their price objective on shares of Apple from $253.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Wells Fargo & Company increased their target price on shares of Apple to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Evercore ISI boosted their price target on shares of Apple from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Barclays increased their price objective on Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Four 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $243.65.

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.