Prudent Investors Network Inc. Buys 3,612 Shares of Apple Inc. (NASDAQ:AAPL)

Prudent Investors Network Inc. raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 41.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,386 shares of the iPhone maker’s stock after acquiring an additional 3,612 shares during the period. Apple comprises approximately 0.9% of Prudent Investors Network Inc.’s investment portfolio, making the stock its 18th largest holding. Prudent Investors Network Inc.’s holdings in Apple were worth $3,102,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. High Net Worth Advisory Group LLC lifted its holdings in Apple by 1.7% during the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after acquiring an additional 1,066 shares during the period. Amara Financial LLC. purchased a new position in shares of Apple in the third quarter valued at $288,000. Sterling Investment Counsel LLC increased its position in shares of Apple by 3.8% during the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after buying an additional 2,565 shares during the period. Silicon Valley Capital Partners lifted its stake in Apple by 12.8% in the 3rd quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock worth $59,122,000 after purchasing an additional 28,799 shares in the last quarter. Finally, Catalyst Financial Partners LLC raised its position in shares of Apple by 4.2% in the third quarter. Catalyst Financial Partners LLC now owns 96,589 shares of the iPhone maker’s stock worth $22,505,000 after buying an additional 3,935 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

Apple stock opened at $223.19 on Wednesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The stock has a market capitalization of $3.35 trillion, a PE ratio of 35.43, a price-to-earnings-growth 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 business has a 50 day simple moving average of $230.55 and a 200-day simple moving average of $233.43.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share 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%. Equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared 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. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.45%. Apple’s dividend payout ratio is presently 15.87%.

Analyst Ratings Changes

A number of research firms have recently issued reports on AAPL. Argus raised shares of Apple to a “strong-buy” rating in a report on Friday, January 31st. UBS Group upped their price target on shares of Apple to $236.00 and gave the company a “hold” rating in a report on Tuesday, February 25th. Wells Fargo & Company increased their price objective on Apple to $275.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Barclays increased their price target on shares of Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Finally, Wedbush reissued an “outperform” rating and set a $325.00 price objective on shares of Apple in a research note on Friday, March 14th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.52.

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.