Cacti Asset Management LLC Grows Position in Apple Inc. (NASDAQ:AAPL)

Cacti Asset Management LLC grew its stake in Apple Inc. (NASDAQ:AAPLFree Report) by 0.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 557,968 shares of the iPhone maker’s stock after acquiring an additional 83 shares during the quarter. Apple accounts for 9.3% of Cacti Asset Management LLC’s portfolio, making the stock its 2nd biggest holding. Cacti Asset Management LLC’s holdings in Apple were worth $107,772,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Atlantic Private Wealth LLC purchased a new position in shares of Apple in the first quarter worth $30,000. Summit Wealth Group LLC raised its stake in shares of Apple by 16,252.3% in 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 during the last quarter. HBC Financial Services PLLC raised its stake in shares of Apple by 21.7% in 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 during the last quarter. West Tower Group LLC purchased a new position in shares of Apple in the second quarter worth $64,000. Finally, PayPay Securities Corp increased its position in Apple by 70.2% during the third quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock valued at $87,000 after acquiring an additional 210 shares during the last quarter. 58.51% of the stock is owned by institutional investors.

Apple Trading Up 1.1 %

AAPL opened at $173.00 on Friday. The stock’s fifty day moving average is $183.56 and its two-hundred day moving average is $183.40. The company has a market capitalization of $2.67 trillion, a P/E ratio of 26.95, a PEG ratio of 2.06 and a beta of 1.29. Apple Inc. has a 52 week low of $149.92 and a 52 week high of $199.62. 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 (NASDAQ:AAPLGet Free Report) last released its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, topping the consensus estimate of $2.09 by $0.09. The company had revenue of $119.60 billion for 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%. Apple’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the business posted $1.88 EPS. Analysts forecast that Apple Inc. will post 6.55 earnings per share for the current 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 dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.96 annualized dividend and a yield of 0.55%. Apple’s payout ratio is currently 14.95%.

Analysts Set New Price Targets

A number of analysts recently commented on AAPL shares. Robert W. Baird upped their price objective on Apple from $186.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Piper Sandler reduced their price target on Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. Monness Crespi & Hardt upped their price target on Apple from $189.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. The Goldman Sachs Group upped their price target on Apple from $223.00 to $232.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Oppenheimer restated an “outperform” rating and issued a $200.00 price target on shares of Apple in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average target price of $205.27.

Get Our Latest Stock Report on Apple

Insider Buying and Selling at Apple

In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the sale, the director now owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.06% of the company’s stock.

About Apple

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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