Rezny Wealth Management Inc. Raises Stake in Apple Inc. (NASDAQ:AAPL)

Rezny Wealth Management Inc. boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.9% during the 4th quarter, HoldingsChannel reports. The firm owned 9,285 shares of the iPhone maker’s stock after purchasing an additional 169 shares during the period. Apple accounts for approximately 0.6% of Rezny Wealth Management Inc.’s investment portfolio, making the stock its 13th biggest holding. Rezny Wealth Management Inc.’s holdings in Apple were worth $2,325,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of AAPL. Legacy Financial Advisors Inc. boosted its holdings in shares of Apple by 2.6% in the second quarter. Legacy Financial Advisors Inc. now owns 75,663 shares of the iPhone maker’s stock valued at $15,936,000 after acquiring an additional 1,929 shares in the last quarter. Libra Wealth LLC boosted its holdings in shares of Apple by 3.7% in the second quarter. Libra Wealth LLC now owns 27,809 shares of the iPhone maker’s stock valued at $5,857,000 after acquiring an additional 1,001 shares in the last quarter. Alaethes Wealth LLC boosted its holdings in shares of Apple by 1.5% in the second quarter. Alaethes Wealth LLC now owns 56,861 shares of the iPhone maker’s stock valued at $11,976,000 after acquiring an additional 813 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Apple by 3.2% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 240,962 shares of the iPhone maker’s stock valued at $50,752,000 after acquiring an additional 7,479 shares in the last quarter. Finally, Symmetry Investments LP boosted its holdings in shares of Apple by 324.0% in the second quarter. Symmetry Investments LP now owns 100,695 shares of the iPhone maker’s stock valued at $21,208,000 after acquiring an additional 76,945 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

Apple stock opened at $239.07 on Monday. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10. The firm has a 50 day moving average price of $237.56 and a 200 day moving average price of $234.14. The company has a market cap of $3.59 trillion, a price-to-earnings ratio of 37.95, a PEG ratio of 2.44 and a beta of 1.18. 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 (NASDAQ:AAPL) last released its 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 net margin of 24.30% and a return on equity of 160.83%. Sell-side analysts predict that Apple Inc. will post 7.28 earnings per share 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 issued a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.42%. Apple’s payout ratio is 15.87%.

Insider Activity at Apple

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were 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 in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AAPL shares. Argus raised shares of Apple to a “strong-buy” rating in a report on Friday, January 31st. UBS Group raised their price objective on shares of Apple to $236.00 and gave the company a “hold” rating in a research note on Tuesday, February 25th. Maxim Group raised their price objective on shares of Apple to $215.00 and gave the company a “hold” rating in a research note on Friday, February 21st. Citigroup raised their price objective on shares of Apple from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, Monness Crespi & Hardt raised their price objective on shares of Apple to $245.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $243.88.

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.