Horizon Wealth Management LLC Buys 914 Shares of Apple Inc. (NASDAQ:AAPL)

Horizon Wealth Management LLC grew its holdings in Apple Inc. (NASDAQ:AAPL) by 1.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 55,439 shares of the iPhone maker’s stock after acquiring an additional 914 shares during the quarter. Apple makes up about 2.4% of Horizon Wealth Management LLC’s holdings, making the stock its 13th biggest holding. Horizon Wealth Management LLC’s holdings in Apple were worth $13,883,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. Sunflower Bank N.A. increased its stake in shares of Apple by 2.0% during the fourth quarter. Sunflower Bank N.A. now owns 13,933 shares of the iPhone maker’s stock valued at $3,489,000 after buying an additional 272 shares during the period. Davis Investment Partners LLC lifted its holdings in shares of Apple by 10.2% during the fourth quarter. Davis Investment Partners LLC now owns 22,198 shares of the iPhone maker’s stock worth $5,258,000 after purchasing an additional 2,055 shares during the period. Elevated Capital Advisors LLC lifted its holdings in shares of Apple by 7.8% during the fourth quarter. Elevated Capital Advisors LLC now owns 48,358 shares of the iPhone maker’s stock worth $12,110,000 after purchasing an additional 3,488 shares during the period. Friedenthal Financial raised its position in Apple by 704.2% during the fourth quarter. Friedenthal Financial now owns 4,648 shares of the iPhone maker’s stock valued at $1,164,000 after acquiring an additional 4,070 shares in the last quarter. Finally, Heritage Wealth Partners LLC raised its position in Apple by 7.3% during the fourth quarter. Heritage Wealth Partners LLC now owns 15,907 shares of the iPhone maker’s stock valued at $3,983,000 after acquiring an additional 1,076 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AAPL shares. Wedbush restated an “outperform” rating and issued a $325.00 price objective on shares of Apple in a research report on Thursday, January 23rd. JPMorgan Chase & Co. upped their price target on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Raymond James increased their target price on Apple to $250.00 and gave the stock a “buy” rating in a research note on Monday, January 20th. Loop Capital downgraded Apple from a “buy” rating to a “hold” rating and set a $230.00 price target on the stock. in a report on Tuesday, January 21st. Finally, Rosenblatt Securities restated a “buy” rating and set a $262.00 price target on shares of Apple in a report on Monday, January 27th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $244.85.

Apple Trading Down 0.1 %

Shares of NASDAQ AAPL opened at $245.55 on Friday. The stock’s 50 day moving average price is $240.47 and its two-hundred day moving average price is $232.72. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. The stock has a market capitalization of $3.69 trillion, a P/E ratio of 38.98, a PEG ratio of 2.44 and a beta of 1.20. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping 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%. On average, analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio (DPR) is 15.87%.

Insider Buying and Selling at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s 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 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 legal filing with the SEC, which is available through this link. 0.06% of the stock is currently owned by corporate insiders.

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.