Investment Management of Virginia LLC raised its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 47.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,429 shares of the iPhone maker’s stock after acquiring an additional 24,670 shares during the quarter. Apple makes up about 2.2% of Investment Management of Virginia LLC’s investment portfolio, making the stock its 7th largest holding. Investment Management of Virginia LLC’s holdings in Apple were worth $13,571,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Dark Forest Capital Management LP bought a new position in shares of Apple in the third quarter valued at about $29,000. Econ Financial Services Corp bought a new position in shares of Apple in the fourth quarter valued at about $58,000. Spence Asset Management bought a new position in shares of Apple in the fourth quarter valued at about $63,000. Newfound Research LLC increased its position in Apple by 73.1% during the fourth quarter. Newfound Research LLC now owns 940 shares of the iPhone maker’s stock worth $167,000 after acquiring an additional 397 shares during the period. Finally, ARK Investment Management LLC bought a new position in Apple during the fourth quarter worth about $196,000. 57.98% of the stock is currently owned by institutional investors.
Shares of NASDAQ AAPL opened at $161.79 on Friday. The company has a market capitalization of $2.64 trillion, a P/E ratio of 26.79, a price-to-earnings-growth ratio of 2.15 and a beta of 1.19. Apple Inc. has a 52-week low of $122.25 and a 52-week high of $182.94. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.00 and a current ratio of 1.04. The company’s 50 day moving average price is $166.72 and its 200-day moving average price is $164.34.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 10th. Stockholders of record on Monday, February 7th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, February 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.54%. Apple’s dividend payout ratio (DPR) is currently 14.57%.
In related news, Director Arthur D. Levinson sold 1,986 shares of the business’s stock in a transaction on Tuesday, February 1st. The shares were sold at an average price of $173.29, for a total transaction of $344,153.94. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 105,901 shares of the business’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $177.75, for a total transaction of $18,823,902.75. Following the transaction, the chief operating officer now owns 489,662 shares in the company, valued at approximately $87,037,420.50. The disclosure for this sale can be found here. Insiders sold a total of 170,085 shares of company stock valued at $30,047,365 in the last quarter. 0.06% of the stock is currently owned by company insiders.
A number of equities analysts recently commented on AAPL shares. JPMorgan Chase & Co. set a $210.00 price target on shares of Apple in a research report on Thursday, April 7th. Deutsche Bank Rese… set a $210.00 price target on shares of Apple in a research report on Friday, April 8th. Citigroup reaffirmed a “buy” rating and set a $200.00 price target on shares of Apple in a research report on Wednesday, January 19th. Barclays raised their price target on shares of Apple from $169.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Friday, March 11th. Finally, DA Davidson raised their target price on shares of Apple from $170.00 to $185.00 in a report on Friday, January 28th. Eight research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $190.24.
Apple Profile (Get Rating)
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.
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