Apple Inc. (NASDAQ:AAPL) is Colonial River Wealth Management LLC’s Largest Position

Colonial River Wealth Management LLC boosted its stake in Apple Inc. (NASDAQ:AAPL) by 19.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,824 shares of the iPhone maker’s stock after buying an additional 8,608 shares during the quarter. Apple makes up approximately 6.0% of Colonial River Wealth Management LLC’s portfolio, making the stock its largest holding. Colonial River Wealth Management LLC’s holdings in Apple were worth $10,170,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Kingdom Financial Group LLC. increased its holdings in shares of Apple by 5.5% in the third 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 last quarter. RFG Advisory LLC increased its stake in shares of Apple by 13.6% in the 3rd quarter. RFG Advisory LLC now owns 172,823 shares of the iPhone maker’s stock worth $29,589,000 after acquiring an additional 20,737 shares during the last quarter. Headinvest LLC raised its holdings in shares of Apple by 1.7% during the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock worth $9,236,000 after acquiring an additional 872 shares during the period. Sound Income Strategies LLC boosted its position in shares of Apple by 16.1% during the 4th quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock valued at $14,461,000 after acquiring an additional 10,425 shares during the last quarter. Finally, DNB Asset Management AS grew its holdings in shares of Apple by 6.9% in the fourth 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 period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Loop Capital reduced their target price on shares of Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Rosenblatt Securities reiterated a “neutral” rating and issued a $189.00 price objective on shares of Apple in a report on Tuesday, March 5th. Piper Sandler cut their target price on Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a research note on Friday, February 2nd. The Goldman Sachs Group upped their price target on Apple from $223.00 to $232.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Oppenheimer reissued an “outperform” rating and set a $200.00 price objective on shares of Apple in a research report on Friday, February 2nd. One research 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $203.05.

Apple Stock Up 0.6 %

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

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.09. The business had revenue of $119.60 billion for the quarter, compared to analyst estimates of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the business earned $1.88 EPS. As a group, research analysts forecast that Apple Inc. will post 6.54 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were issued a $0.24 dividend. 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 payout ratio is currently 14.95%.

Insider Buying and Selling

In other Apple news, CFO Luca Maestri sold 53,194 shares of the stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total value of $9,262,139.28. Following the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $18,768,046.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Luca Maestri sold 53,194 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the transaction, the chief financial officer now owns 107,788 shares in the company, valued at approximately $18,768,046.56. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction on Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the sale, the chief executive officer now owns 3,377,407 shares in the company, valued at $574,260,512.21. The disclosure for this sale can be found here. Insiders sold a total of 366,271 shares of company stock worth $63,653,887 over the last 90 days. 0.06% of the stock is owned by 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.