Apple Inc. (NASDAQ:AAPL) Stake Lifted by Denver Wealth Management Inc.

Denver Wealth Management Inc. increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,854 shares of the iPhone maker’s stock after purchasing an additional 267 shares during the quarter. Apple makes up approximately 4.3% of Denver Wealth Management Inc.’s portfolio, making the stock its 6th biggest position. Denver Wealth Management Inc.’s holdings in Apple were worth $7,673,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Kingdom Financial Group LLC. boosted its position in shares of Apple by 5.5% in the 3rd quarter. Kingdom Financial Group LLC. now owns 11,464 shares of the iPhone maker’s stock valued at $1,963,000 after purchasing an additional 598 shares during the period. RFG Advisory LLC raised its holdings in shares of Apple by 13.6% in the third quarter. RFG Advisory LLC now owns 172,823 shares of the iPhone maker’s stock valued at $29,589,000 after buying an additional 20,737 shares during the last quarter. Headinvest LLC boosted its stake in shares of Apple by 1.7% during the third quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock worth $9,236,000 after buying an additional 872 shares during the period. Sound Income Strategies LLC grew its holdings in shares of Apple by 16.1% during the fourth quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock worth $14,461,000 after buying an additional 10,425 shares during the last quarter. Finally, DNB Asset Management AS grew its stake in shares of Apple by 6.9% in the 4th quarter. DNB Asset Management AS now owns 4,307,068 shares of the iPhone maker’s stock valued at $829,240,000 after purchasing an additional 279,311 shares during the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on AAPL shares. Morgan Stanley cut their price target on shares of Apple from $220.00 to $210.00 and set an “overweight” rating for the company in a report on Monday. Redburn Partners downgraded Apple to a “neutral” rating and set a $200.00 price target for the company. in a research note on Wednesday, January 10th. Bank of America raised Apple from a “neutral” rating to a “buy” rating and upped their target price for the company from $208.00 to $225.00 in a research note on Thursday, January 18th. Oppenheimer restated an “outperform” rating and issued a $200.00 target price on shares of Apple in a report on Friday, February 2nd. Finally, Redburn Atlantic cut Apple from a “buy” rating to a “neutral” rating and set a $200.00 price objective on the stock. in a report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $203.05.

Apple Stock Performance

Apple stock opened at $166.90 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28. The stock has a 50 day moving average of $173.88 and a 200-day moving average of $182.03. The stock has a market cap of $2.58 trillion, a P/E ratio of 26.00, a price-to-earnings-growth ratio of 1.99 and a beta of 1.27. Apple Inc. has a 52 week low of $162.80 and a 52 week high of $199.62.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, topping the consensus estimate of $2.09 by $0.09. The business had revenue of $119.60 billion for the quarter, compared to analysts’ expectations of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.88 earnings per share. On average, analysts expect that Apple Inc. will post 6.54 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.58%. Apple’s dividend payout ratio (DPR) is 14.95%.

Insider Activity

In other Apple news, COO Jeffrey E. Williams sold 59,162 shares of the firm’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $172.22, for a total value of $10,188,879.64. Following the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $84,378,155.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apple news, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the sale, the director now owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 59,162 shares of the business’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $172.22, for a total value of $10,188,879.64. Following the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at approximately $84,378,155.68. The disclosure for this sale can be found here. In the last three months, insiders sold 366,271 shares of company stock valued at $63,653,887. Company insiders own 0.06% of the company’s stock.

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.