Baron Wealth Management LLC Has $7.74 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Baron Wealth Management LLC grew its stake in Apple Inc. (NASDAQ:AAPL) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,924 shares of the iPhone maker’s stock after acquiring an additional 371 shares during the period. Apple accounts for 3.6% of Baron Wealth Management LLC’s holdings, making the stock its 4th biggest holding. Baron Wealth Management LLC’s holdings in Apple were worth $7,744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Drystone LLC bought a new position in Apple during the 4th quarter worth about $25,000. Bull Oak Capital LLC lifted its position in shares of Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares during the period. SPX Gestao de Recursos Ltda bought a new position in shares of Apple during the third quarter valued at approximately $71,000. Christopher J. Hasenberg Inc increased its holdings in 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 buying an additional 144 shares during the period. Finally, Teachers Insurance & Annuity Association of America bought a new position in Apple in the third quarter worth approximately $77,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Raymond James lifted their price target on Apple to $250.00 and gave the company a “buy” rating in a report on Monday, January 20th. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Apple in a report on Friday, January 31st. Sanford C. Bernstein increased their price target on shares of Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Citigroup lifted their price objective on shares of Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, Wedbush reissued an “outperform” rating and set a $325.00 target price on shares of Apple in a research report on Friday, March 14th. Four equities research 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.65.

Apple Trading Up 1.4 %

Shares of NASDAQ:AAPL opened at $223.75 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a 12-month low of $164.08 and a 12-month high of $260.10. The business has a 50 day moving average of $231.35 and a two-hundred day moving average of $233.43. The company has a market capitalization of $3.36 trillion, a PE ratio of 35.52, a PEG ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate 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, 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. Stockholders of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio (DPR) is presently 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.