Financial Enhancement Group LLC Has $8.80 Million Position in Apple Inc. (NASDAQ:AAPL)

Financial Enhancement Group LLC boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 6.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,180 shares of the iPhone maker’s stock after purchasing an additional 2,804 shares during the quarter. Apple comprises approximately 1.6% of Financial Enhancement Group LLC’s investment portfolio, making the stock its 23rd largest holding. Financial Enhancement Group LLC’s holdings in Apple were worth $8,801,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of 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 boosted its stake in Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after buying an additional 69 shares in the last quarter. Summit Wealth Group LLC boosted its stake in 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 buying an additional 6,949,659 shares in the last quarter. HBC Financial Services PLLC boosted its stake in 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 buying an additional 80 shares in the last quarter. Finally, PayPay Securities Corp boosted its stake in Apple by 70.2% in the third quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after buying an additional 210 shares in the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In related news, SVP Deirdre O’brien sold 54,732 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the sale, the senior vice president now owns 136,572 shares in the company, valued at approximately $23,068,376.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the 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 approximately $574,260,512.21. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the sale, the senior vice president now owns 136,572 shares in the company, valued at approximately $23,068,376.52. The disclosure for this sale can be found here. In the last three months, insiders sold 253,915 shares of company stock valued at $44,202,868. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Up 0.9 %

NASDAQ:AAPL opened at $176.55 on Monday. The stock has a 50-day simple moving average of $176.70 and a 200-day simple moving average of $182.31. The stock has a market cap of $2.73 trillion, a P/E ratio of 27.50, a P/E/G ratio of 2.13 and a beta of 1.27. Apple Inc. has a 1 year low of $161.42 and a 1 year high of $199.62. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, beating the consensus estimate 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 business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.88 EPS. As a group, analysts anticipate that Apple Inc. will post 6.55 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Friday, February 9th. Apple’s dividend payout ratio (DPR) is 14.95%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Piper Sandler decreased their target price on Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. Citigroup reaffirmed a “buy” rating and issued a $225.00 price target on shares of Apple in a research report on Friday, February 16th. Redburn Atlantic lowered Apple from a “buy” rating to a “neutral” rating and set a $200.00 price target for the company. in a research report on Wednesday, January 10th. DZ Bank reissued a “hold” rating and issued a $180.00 target price on shares of Apple in a research report on Thursday, March 28th. Finally, Loop Capital cut their price target on Apple from $185.00 to $170.00 and set a “hold” rating for the company in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $204.08.

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.