1,007 Shares in Apple Inc. (NASDAQ:AAPL) Purchased by Ridgeline Wealth Planning LLC

Ridgeline Wealth Planning LLC purchased a new position in shares of Apple Inc. (NASDAQ:AAPL) during the 4th quarter, Holdings Channel.com reports. The fund purchased 1,007 shares of the iPhone maker’s stock, valued at approximately $252,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of AAPL. AMF Tjanstepension AB raised its holdings in Apple by 21.1% in the 3rd quarter. AMF Tjanstepension AB now owns 3,380,064 shares of the iPhone maker’s stock valued at $787,631,000 after acquiring an additional 588,427 shares during the period. Latitude Advisors LLC grew its position in shares of Apple by 0.3% in the third quarter. Latitude Advisors LLC now owns 17,236 shares of the iPhone maker’s stock valued at $4,016,000 after purchasing an additional 50 shares during the last quarter. Penn Davis Mcfarland Inc. increased its stake in shares of Apple by 12.4% during the third quarter. Penn Davis Mcfarland Inc. now owns 185,781 shares of the iPhone maker’s stock worth $43,287,000 after purchasing an additional 20,461 shares during the period. Echo Wealth Management LLC increased its position in Apple by 10.2% during the third quarter. Echo Wealth Management LLC now owns 32,153 shares of the iPhone maker’s stock worth $7,380,000 after acquiring an additional 2,968 shares during the period. Finally, Koss Olinger Consulting LLC raised its stake in Apple by 1.5% in the 3rd quarter. Koss Olinger Consulting LLC now owns 18,011 shares of the iPhone maker’s stock worth $4,197,000 after purchasing an additional 262 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on AAPL shares. Oppenheimer lowered Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Morgan Stanley decreased their price objective on shares of Apple from $252.00 to $220.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. TD Cowen restated a “buy” rating on shares of Apple in a research note on Tuesday, January 28th. Jefferies Financial Group raised Apple from an “underperform” rating to a “hold” rating and lowered their target price for the stock from $202.33 to $167.88 in a research note on Wednesday, April 9th. Finally, Rosenblatt Securities restated a “buy” rating and set a $263.00 price objective on shares of Apple in a research report on Thursday, April 3rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $235.85.

Insider Buying and Selling

In other news, COO Jeffrey E. Williams sold 35,493 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the sale, the chief operating officer now owns 390,059 shares in the company, valued at $87,377,116.59. This represents a 8.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the transaction, the senior vice president now directly owns 179,158 shares in the company, valued at $40,072,269.86. The trade was a 17.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 182,451 shares of company stock worth $40,818,720. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

NASDAQ AAPL opened at $202.52 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a fifty day simple moving average of $222.27 and a 200 day simple moving average of $230.99. Apple Inc. has a 12-month low of $164.08 and a 12-month high of $260.10. The company has a market cap of $3.04 trillion, a P/E ratio of 32.15, a PEG ratio of 2.44 and a beta of 1.26.

Apple (NASDAQ:AAPL) last posted its 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 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 fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.49%. Apple’s payout ratio is 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.