Apple Inc. (NASDAQ:AAPL) is Thrive Wealth Management LLC’s 4th Largest Position

Thrive Wealth Management LLC raised its position in shares of Apple Inc. (NASDAQ:AAPL) by 17.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,445 shares of the iPhone maker’s stock after acquiring an additional 8,565 shares during the period. Apple makes up 2.6% of Thrive Wealth Management LLC’s portfolio, making the stock its 4th biggest position. Thrive Wealth Management LLC’s holdings in Apple were worth $14,385,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. High Net Worth Advisory Group LLC boosted its position in shares of Apple by 1.7% in the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after buying an additional 1,066 shares during the period. Amara Financial LLC. purchased a new stake in shares of Apple in the third quarter worth about $288,000. Granite Investment Partners LLC boosted its position in shares of Apple by 2.7% in the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after buying an additional 7,606 shares during the period. Truist Financial Corp boosted its position in shares of Apple by 1.8% in the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after buying an additional 126,210 shares during the period. Finally, Sterling Investment Counsel LLC boosted its position in shares of Apple by 3.8% in the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after buying an additional 2,565 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Activity

In other news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AAPL. The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a research note on Wednesday, February 19th. Citigroup boosted their price target on Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Monness Crespi & Hardt boosted their price target on Apple to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Bank of America boosted their price target on Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, Oppenheimer cut Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $243.88.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $239.07 on Friday. The stock has a fifty day moving average price of $237.56 and a two-hundred day moving average price of $234.03. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The firm has a market cap of $3.59 trillion, a P/E ratio of 37.95, a PEG ratio of 2.44 and a beta of 1.18. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly 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 return on equity of 160.83% and a net margin of 24.30%. Research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.42%. Apple’s dividend payout ratio (DPR) is presently 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.