Grange Capital LLC Invests $2.17 Million in Apple Inc. (NASDAQ:AAPL)

Grange Capital LLC bought a new stake in shares of Apple Inc. (NASDAQ:AAPL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,669 shares of the iPhone maker’s stock, valued at approximately $2,171,000. Apple makes up 2.3% of Grange Capital LLC’s investment portfolio, making the stock its 13th largest holding.

Several other hedge funds have also bought and sold shares of AAPL. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Apple by 254.9% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 107,030 shares of the iPhone maker’s stock valued at $22,543,000 after buying an additional 76,870 shares in the last quarter. Heritage Oak Wealth Advisors LLC bought a new stake in Apple during the second quarter valued at about $4,442,000. Kestra Investment Management LLC purchased a new position in shares of Apple in the second quarter valued at about $11,587,000. Gibson Wealth Advisors LLC boosted its stake in shares of Apple by 15.0% in the second quarter. Gibson Wealth Advisors LLC now owns 6,894 shares of the iPhone maker’s stock worth $1,452,000 after acquiring an additional 900 shares during the period. Finally, RiverFront Investment Group LLC grew its position in shares of Apple by 13.2% during the second quarter. RiverFront Investment Group LLC now owns 275,702 shares of the iPhone maker’s stock worth $58,068,000 after purchasing an additional 32,203 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $214.00 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock’s fifty day moving average price is $233.90 and its 200-day moving average price is $233.71. The firm has a market cap of $3.21 trillion, a P/E ratio of 33.97, a P/E/G ratio of 2.44 and a beta of 1.18. Apple Inc. has a 12 month low of $164.08 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s payout ratio is 15.87%.

Analyst Upgrades and Downgrades

AAPL has been the subject of several recent analyst reports. The Goldman Sachs Group restated a “buy” rating on shares of Apple in a research note on Wednesday, February 19th. Moffett Nathanson restated a “sell” rating and set a $188.00 target price (down previously from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Raymond James lifted their price target on shares of Apple to $250.00 and gave the company a “buy” rating in a report on Monday, January 20th. Needham & Company LLC reissued a “buy” rating and set a $260.00 price objective on shares of Apple in a report on Friday, January 31st. Finally, KeyCorp reaffirmed an “underweight” rating and issued a $200.00 target price on shares of Apple in a report on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average target price of $243.22.

Apple Company 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.