NavPoint Financial Inc. Has $8.68 Million Holdings in Apple Inc. (NASDAQ:AAPL)

NavPoint Financial Inc. grew its stake in Apple Inc. (NASDAQ:AAPL) by 1.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 34,660 shares of the iPhone maker’s stock after acquiring an additional 427 shares during the period. Apple accounts for approximately 6.9% of NavPoint Financial Inc.’s investment portfolio, making the stock its 4th biggest holding. NavPoint Financial Inc.’s holdings in Apple were worth $8,680,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Drystone LLC acquired a new position in Apple in the 4th quarter valued at $25,000. Bull Oak Capital LLC boosted its position in shares of Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares during the period. SPX Gestao de Recursos Ltda bought a new stake in shares of Apple in the third quarter valued at about $71,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Apple in the third quarter valued at about $77,000. Finally, ARK Investment Management LLC bought a new position in Apple during the third quarter worth about $110,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Trading Up 1.9 %

Shares of NASDAQ AAPL opened at $222.13 on Tuesday. The firm has a 50 day moving average price of $230.54 and a two-hundred day moving average price of $233.42. The stock has a market cap of $3.34 trillion, a P/E ratio of 35.26, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. Apple Inc. has a 52-week low of $164.08 and a 52-week high of $260.10. 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 posted its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share 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%. As a group, equities analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio is currently 15.87%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AAPL. KeyCorp reissued an “underweight” rating and issued a $200.00 price objective on shares of Apple in a report on Friday, January 31st. Maxim Group boosted their price target on Apple to $215.00 and gave the company a “hold” rating in a research note on Friday, February 21st. Wells Fargo & Company raised their price objective on Apple to $275.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. UBS Group upped their target price on Apple to $236.00 and gave the company a “hold” rating in a research report on Tuesday, February 25th. Finally, Raymond James increased their target price on Apple to $250.00 and gave the stock a “buy” rating in a report on Monday, January 20th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $245.52.

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.