Cornerstone Management Inc. Boosts Holdings in Apple Inc. (NASDAQ:AAPL)

Cornerstone Management Inc. raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 39.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,427 shares of the iPhone maker’s stock after buying an additional 405 shares during the period. Cornerstone Management Inc.’s holdings in Apple were worth $357,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Drystone LLC bought a new stake in Apple during the 4th quarter valued at approximately $25,000. Bull Oak Capital LLC boosted its stake in 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 purchased a new stake in Apple during the 3rd quarter valued at approximately $71,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Apple in the third quarter worth $77,000. Finally, ARK Investment Management LLC bought a new position in shares of Apple during the third quarter worth $110,000. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Up 0.3 %

AAPL opened at $223.89 on Thursday. The company has a market capitalization of $3.36 trillion, a P/E ratio of 35.54, a P/E/G ratio of 2.44 and a beta of 1.18. 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 Inc. has a fifty-two week low of $164.08 and a fifty-two week high of $260.10. The firm’s fifty day moving average price is $230.55 and its two-hundred day moving average price is $233.36.

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 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%. On average, analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio is presently 15.87%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AAPL. DA Davidson set a $290.00 target price on Apple in a report on Friday, January 31st. UBS Group lifted their price objective on Apple to $236.00 and gave the stock a “hold” rating in a research note on Tuesday, February 25th. Barclays increased their target price on Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. KeyCorp restated an “underweight” rating and issued a $200.00 price target on shares of Apple in a research report on Friday, January 31st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Apple in a research note on Friday, January 31st. Four analysts have rated the stock with a sell rating, nine 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 MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target of $245.52.

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.