GEN Financial Management INC. Takes $462,000 Position in Apple Inc. (NASDAQ:AAPL)

GEN Financial Management INC. bought a new position in shares of Apple Inc. (NASDAQ:AAPL) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,847 shares of the iPhone maker’s stock, valued at approximately $462,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Drystone LLC purchased a new stake in shares of Apple during the fourth quarter worth $25,000. Bull Oak Capital LLC lifted its position in shares of Apple by 252.3% during 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 last quarter. SPX Gestao de Recursos Ltda purchased a new stake in shares of Apple during the 3rd quarter worth $71,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Apple during the third quarter worth $77,000. Finally, ARK Investment Management LLC purchased a new position in Apple in the third quarter valued at $110,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of research analyst reports. Sanford C. Bernstein raised their price objective on shares of Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. UBS Group lifted their price target on shares of Apple to $236.00 and gave the stock a “hold” rating in a research note on Tuesday, February 25th. Oppenheimer downgraded shares of Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Jefferies Financial Group reissued an “underperform” rating on shares of Apple in a report on Wednesday, February 19th. Finally, Redburn Partners set a $230.00 target price on Apple in a research report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $245.52.

Apple Stock Up 0.3 %

Shares of AAPL opened at $223.89 on Thursday. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10. 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 50 day simple moving average of $230.55 and a two-hundred day simple moving average of $233.36. The firm has a market cap 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.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping 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%. On average, analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Monday, February 10th. Apple’s dividend 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.