Nova R Wealth Inc. Has $6.53 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Nova R Wealth Inc. raised its stake in Apple Inc. (NASDAQ:AAPL) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,894 shares of the iPhone maker’s stock after purchasing an additional 554 shares during the period. Apple makes up approximately 4.1% of Nova R Wealth Inc.’s holdings, making the stock its 7th biggest position. Nova R Wealth Inc.’s holdings in Apple were worth $6,526,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AAPL. Wyrmwood Management LLC lifted its holdings in shares of Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after acquiring an additional 69 shares during the period. Atlantic Private Wealth LLC bought a new position in shares of Apple during the 1st quarter worth about $30,000. Gilfoyle & Co LLC lifted its holdings in shares of Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after acquiring an additional 118 shares during the period. Cheyne Capital Management UK LLP lifted its holdings in shares of Apple by 200.0% during the 3rd quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $212,000 after acquiring an additional 550 shares during the period. Finally, HBC Financial Services PLLC lifted its holdings in shares of Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after acquiring an additional 80 shares during the period. 60.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $220.00 price objective on shares of Apple in a report on Tuesday. Redburn Partners cut shares of Apple to a “neutral” rating and set a $200.00 target price for the company. in a research report on Wednesday, January 10th. Robert W. Baird increased their target price on shares of Apple from $186.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. DA Davidson initiated coverage on shares of Apple in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $166.00 target price for the company. Finally, Piper Sandler dropped their target price on shares of Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $204.08.

Apple Price Performance

Shares of AAPL opened at $169.38 on Wednesday. The company has a market cap of $2.62 trillion, a price-to-earnings ratio of 26.38, a PEG ratio of 2.13 and a beta of 1.27. Apple Inc. has a 1-year low of $162.80 and a 1-year high of $199.62. The company’s fifty day simple moving average is $176.00 and its 200 day simple moving average is $182.31. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.09. The company had revenue of $119.60 billion during the quarter, compared to analysts’ expectations of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. Apple’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.88 earnings per share. On average, research analysts forecast that Apple Inc. will post 6.55 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were given 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 0.57%. Apple’s payout ratio is presently 14.95%.

Insider Activity

In related news, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the completion of the sale, the director now owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the completion of the sale, the director now owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction dated 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 directly owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 366,271 shares of company stock valued at $63,653,887. 0.06% of the stock is owned by company insiders.

Apple Profile

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.