Apple Inc. (NASDAQ:AAPL) Stock Position Increased by Marion Wealth Management

Marion Wealth Management lifted its position in Apple Inc. (NASDAQ:AAPL) by 1.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,402 shares of the iPhone maker’s stock after buying an additional 400 shares during the period. Apple makes up 2.4% of Marion Wealth Management’s holdings, making the stock its 11th largest position. Marion Wealth Management’s holdings in Apple were worth $9,116,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pallas Capital Advisors LLC raised its position in shares of Apple by 3.1% during the fourth quarter. Pallas Capital Advisors LLC now owns 231,017 shares of the iPhone maker’s stock worth $57,851,000 after purchasing an additional 7,035 shares during the period. Miracle Mile Advisors LLC raised its position in shares of Apple by 37.0% during the fourth quarter. Miracle Mile Advisors LLC now owns 698,798 shares of the iPhone maker’s stock worth $174,993,000 after purchasing an additional 188,807 shares during the period. Northstar Advisory Group LLC raised its position in shares of Apple by 2.6% during the fourth quarter. Northstar Advisory Group LLC now owns 34,795 shares of the iPhone maker’s stock worth $8,713,000 after purchasing an additional 895 shares during the period. Conrad Siegel Investment Advisors Inc. raised its position in shares of Apple by 2.0% during the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 10,653 shares of the iPhone maker’s stock worth $2,668,000 after purchasing an additional 204 shares during the period. Finally, Horizon Wealth Management LLC raised its position in shares of Apple by 1.7% during the fourth quarter. Horizon Wealth Management LLC now owns 55,439 shares of the iPhone maker’s stock worth $13,883,000 after purchasing an additional 914 shares during the period. Institutional investors own 67.73% of the company’s stock.

Insider Activity at Apple

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is available at this link. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AAPL has been the topic of several recent analyst reports. UBS Group set a $270.00 price target on Apple in a research report on Friday, January 31st. DA Davidson set a $290.00 price target on Apple in a research report on Friday, January 31st. KeyCorp reissued an “underweight” rating and set a $200.00 price target on shares of Apple in a research report on Friday, January 31st. Citigroup upped their price target on Apple from $255.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, Redburn Partners set a $230.00 price target on Apple in a research report on Friday, January 31st. Four equities 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.85.

Apple Stock Down 0.1 %

AAPL opened at $245.55 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The company has a market capitalization of $3.69 trillion, a PE ratio of 38.98, a PEG ratio of 2.44 and a beta of 1.20. The firm’s 50 day simple moving average is $240.47 and its two-hundred day simple moving average is $232.72.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors 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 0.41%. 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.