M Wealth Management LLC Acquires New Stake in Apple Inc. (NASDAQ:AAPL)

M Wealth Management LLC bought a new position in Apple Inc. (NASDAQ:AAPL) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,296 shares of the iPhone maker’s stock, valued at approximately $2,078,000. Apple makes up approximately 1.9% of M Wealth Management LLC’s portfolio, making the stock its 11th biggest holding.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Maxim Group boosted their target price on Apple to $215.00 and gave the stock a “hold” rating in a research 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 objective for the company. in a report on Tuesday, January 21st. Morgan Stanley dropped their target price on shares of Apple from $275.00 to $252.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. KeyCorp reiterated an “underweight” rating and set a $200.00 target price on shares of Apple in a research note on Friday, January 31st. Finally, Oppenheimer downgraded Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Four 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $243.65.

Apple Stock Down 1.0 %

Shares of NASDAQ AAPL opened at $221.53 on Thursday. The stock has a market capitalization of $3.33 trillion, a price-to-earnings ratio of 35.16, a P/E/G ratio of 2.44 and a beta of 1.18. Apple Inc. has a 12-month low of $164.08 and a 12-month high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The firm’s 50-day moving average price is $231.03 and its 200-day moving average price is $233.35.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (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%. On average, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed 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 0.45%. The ex-dividend date was Monday, February 10th. Apple’s payout ratio is 15.87%.

About Apple

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.