Horizon Wealth Management LLC Increases Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Horizon Wealth Management LLC boosted its position in Apple Inc. (NASDAQ:AAPL) by 2.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 66,787 shares of the iPhone maker’s stock after acquiring an additional 1,591 shares during the period. Apple accounts for approximately 3.6% of Horizon Wealth Management LLC’s portfolio, making the stock its 9th largest holding. Horizon Wealth Management LLC’s holdings in Apple were worth $12,858,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AAPL. Atlantic Private Wealth LLC bought a new stake in shares of Apple during the first quarter valued at about $30,000. Wyrmwood Management LLC increased its position in shares of Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after buying an additional 69 shares during the period. Gilfoyle & Co LLC grew its holdings in shares of Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares in the last quarter. Summit Wealth Group LLC grew its holdings in shares of Apple by 16,252.3% during the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 6,949,659 shares in the last quarter. Finally, HBC Financial Services PLLC grew its holdings in shares of Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors.

Apple Price Performance

AAPL opened at $167.04 on Friday. The stock has a fifty day simple moving average of $175.15 and a two-hundred day simple moving average of $182.10. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28. The company has a market cap of $2.58 trillion, a price-to-earnings ratio of 26.02, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27. Apple Inc. has a 12-month low of $162.80 and a 12-month high of $199.62.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. The business had revenue of $119.60 billion during the quarter, compared to the consensus estimate of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.88 earnings per share. Research analysts predict that Apple Inc. will post 6.54 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were issued a $0.24 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.96 dividend on an annualized basis and a yield of 0.57%. Apple’s dividend payout ratio (DPR) is 14.95%.

Insider Transactions at Apple

In other news, CFO Luca Maestri sold 53,194 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total value of $9,262,139.28. Following the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $18,768,046.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, COO Jeffrey E. Williams sold 59,162 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $172.22, for a total value of $10,188,879.64. Following the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $84,378,155.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Luca Maestri sold 53,194 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at $18,768,046.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 366,271 shares of company stock valued at $63,653,887. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Robert W. Baird boosted their price objective on Apple from $186.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Needham & Company LLC reissued a “buy” rating and set a $220.00 price objective on shares of Apple in a report on Tuesday. Barclays cut their price objective on Apple from $160.00 to $158.00 and set an “underweight” rating for the company in a report on Friday, February 2nd. Morgan Stanley reissued an “overweight” rating and set a $220.00 price objective on shares of Apple in a report on Friday, March 22nd. Finally, UBS Group reaffirmed a “hold” rating and issued a $190.00 target price on shares of Apple in a research note on Monday, March 25th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.34.

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.