Flywheel Private Wealth LLC Invests $2.39 Million in Apple Inc. (NASDAQ:AAPL)

Flywheel Private Wealth LLC acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL) in the fourth quarter, HoldingsChannel reports. The firm acquired 9,535 shares of the iPhone maker’s stock, valued at approximately $2,388,000. Apple comprises 2.2% of Flywheel Private Wealth LLC’s portfolio, making the stock its 14th biggest holding.

Other hedge funds also recently bought and sold shares of the company. State Street Corp increased its stake in Apple by 10.6% in the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after buying an additional 55,935,105 shares during the period. FMR LLC grew its stake in Apple by 5.3% in the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after acquiring an additional 18,224,005 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Apple by 6.5% during the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock worth $77,542,863,000 after acquiring an additional 20,483,787 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Apple by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock worth $22,121,656,000 after acquiring an additional 5,893,741 shares during the period. Finally, International Assets Investment Management LLC raised its stake in shares of Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after acquiring an additional 93,886,664 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on AAPL shares. The Goldman Sachs Group restated a “buy” rating on shares of Apple in a report on Wednesday, February 19th. Argus upgraded Apple to a “strong-buy” rating in a research note on Friday, January 31st. DA Davidson set a $290.00 price objective on shares of Apple in a research note on Friday, January 31st. KeyCorp reiterated an “underweight” rating and set a $200.00 target price on shares of Apple in a report on Friday, January 31st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $262.00 price target on shares of Apple in a report on Monday, January 27th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $243.88.

Apple Stock Performance

NASDAQ AAPL opened at $237.30 on Friday. The firm has a market capitalization of $3.56 trillion, a P/E ratio of 37.67, a PEG ratio of 2.44 and a beta of 1.20. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The stock has a 50-day simple moving average of $239.85 and a two-hundred day simple moving average of $233.42. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.42%. Apple’s dividend payout ratio is presently 15.87%.

Insider Buying and Selling at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is owned by corporate 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.