Acorn Creek Capital LLC Purchases 553 Shares of Apple Inc. (NASDAQ:AAPL)

Acorn Creek Capital LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,577 shares of the iPhone maker’s stock after buying an additional 553 shares during the period. Apple comprises about 2.4% of Acorn Creek Capital LLC’s holdings, making the stock its 11th biggest position. Acorn Creek Capital LLC’s holdings in Apple were worth $4,652,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Buffington Mohr McNeal raised its position in shares of Apple by 7.9% in the fourth quarter. Buffington Mohr McNeal now owns 61,320 shares of the iPhone maker’s stock valued at $15,356,000 after purchasing an additional 4,496 shares during the period. FSC Wealth Advisors LLC boosted its stake in shares of Apple by 1.7% in the 4th quarter. FSC Wealth Advisors LLC now owns 13,222 shares of the iPhone maker’s stock valued at $3,311,000 after purchasing an additional 226 shares in the last quarter. Altus Wealth Management LLC boosted its position in Apple by 1.6% during the 4th quarter. Altus Wealth Management LLC now owns 8,669 shares of the iPhone maker’s stock valued at $2,171,000 after buying an additional 133 shares during the period. Greenup Street Wealth Management LLC boosted its position in Apple by 1.0% during the 4th quarter. Greenup Street Wealth Management LLC now owns 29,036 shares of the iPhone maker’s stock valued at $7,271,000 after buying an additional 282 shares during the period. Finally, BankPlus Wealth Management LLC purchased a new stake in Apple during the 4th quarter valued at $6,110,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. TD Cowen restated a “buy” rating on shares of Apple in a report on Tuesday, January 28th. Bank of America increased 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 price objective on shares of Apple to $275.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Citigroup increased their price objective on shares of Apple from $255.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, Moffett Nathanson reaffirmed a “sell” rating and set a $188.00 price target (down previously from $202.00) on shares of Apple in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $243.65.

Apple Stock Up 1.9 %

NASDAQ AAPL opened at $218.27 on Friday. 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 company has a market capitalization of $3.28 trillion, a P/E ratio of 34.65, a P/E/G 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 stock has a 50 day moving average price of $231.82 and a 200-day moving average price of $233.26.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating 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%. As a group, equities analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued 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 yield of 0.46%. Apple’s payout ratio is presently 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.