Redhawk Wealth Advisors Inc. Increases Stock Position in Apple Inc. (NASDAQ:AAPL)

Redhawk Wealth Advisors Inc. raised its position in Apple Inc. (NASDAQ:AAPL) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 56,946 shares of the iPhone maker’s stock after buying an additional 734 shares during the period. Apple accounts for 1.9% of Redhawk Wealth Advisors Inc.’s investment portfolio, making the stock its 11th biggest holding. Redhawk Wealth Advisors Inc.’s holdings in Apple were worth $14,260,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Bull Oak Capital LLC lifted its position in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares in the last quarter. Hershey Financial Advisers LLC bought a new position in Apple in the 2nd quarter worth about $42,000. SPX Gestao de Recursos Ltda bought a new position in Apple in the 3rd quarter worth about $71,000. Christopher J. Hasenberg Inc increased its position in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after buying an additional 144 shares during the period. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in shares of Apple in the third quarter worth about $77,000. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $237.30 on Friday. The company has a market capitalization of $3.56 trillion, a price-to-earnings ratio of 37.67, a price-to-earnings-growth ratio of 2.44 and a beta of 1.20. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. Apple Inc. has a one year low of $164.07 and a one year high of $260.10. The company’s 50-day moving average is $239.85 and its 200 day moving average is $233.42.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 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%. Sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio is currently 15.87%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Apple in a report on Friday, January 31st. Moffett Nathanson reaffirmed a “sell” rating and set a $188.00 price objective (down from $202.00) on shares of Apple in a research note on Tuesday, January 7th. The Goldman Sachs Group reissued a “buy” rating on shares of Apple in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company upped their price target on Apple to $275.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.88.

Insider Activity

In related news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction dated 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 in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company’s stock.

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.