Red Wave Investments LLC Purchases 66 Shares of Apple Inc. (NASDAQ:AAPL)

Red Wave Investments LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,521 shares of the iPhone maker’s stock after acquiring an additional 66 shares during the period. Apple makes up about 2.0% of Red Wave Investments LLC’s portfolio, making the stock its 14th biggest holding. Red Wave Investments LLC’s holdings in Apple were worth $5,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Bull Oak Capital LLC lifted its stake 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 valued at $36,000 after purchasing an additional 111 shares during the period. Hershey Financial Advisers LLC purchased a new stake in shares of Apple in the second quarter worth approximately $42,000. Christopher J. Hasenberg Inc grew its stake in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares in the last quarter. Teachers Insurance & Annuity Association of America bought a new position in shares of Apple during the 3rd quarter worth approximately $77,000. Finally, ARK Investment Management LLC purchased a new stake in shares of Apple during the 3rd quarter valued at $110,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Oppenheimer downgraded Apple from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Apple in a research note on Friday, January 31st. Wells Fargo & Company increased their price target on shares of Apple to $275.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Argus upgraded shares of Apple to a “strong-buy” rating in a report on Friday, January 31st. Finally, Morgan Stanley boosted their target price on Apple from $273.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $242.52.

Apple Stock Down 2.4 %

Shares of AAPL stock opened at $227.63 on Monday. The stock has a market cap of $3.42 trillion, a P/E ratio of 36.13, a P/E/G ratio of 2.32 and a beta of 1.20. 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 company has a 50 day simple moving average of $241.26 and a two-hundred day simple moving average of $231.04. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10.

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

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 13th. Shareholders of record on Monday, February 10th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is currently 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.