6,583 Shares in Apple Inc. (NASDAQ:AAPL) Bought by Verus Wealth Management LLC

Verus Wealth Management LLC purchased a new stake in shares of Apple Inc. (NASDAQ:AAPL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,583 shares of the iPhone maker’s stock, valued at approximately $1,649,000. Apple accounts for approximately 1.8% of Verus Wealth Management LLC’s investment portfolio, making the stock its 14th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. AMF Tjanstepension AB boosted its holdings in Apple by 21.1% in the 3rd quarter. AMF Tjanstepension AB now owns 3,380,064 shares of the iPhone maker’s stock worth $787,631,000 after buying an additional 588,427 shares during the period. Foresight Capital Management Advisors Inc. lifted its position in shares of Apple by 4.3% in the third quarter. Foresight Capital Management Advisors Inc. now owns 19,828 shares of the iPhone maker’s stock valued at $4,620,000 after acquiring an additional 823 shares in the last quarter. Cypress Financial Planning LLC lifted its position in shares of Apple by 3.2% in the third quarter. Cypress Financial Planning LLC now owns 8,173 shares of the iPhone maker’s stock valued at $1,904,000 after acquiring an additional 256 shares in the last quarter. New England Research & Management Inc. boosted its stake in shares of Apple by 0.3% in the third quarter. New England Research & Management Inc. now owns 36,348 shares of the iPhone maker’s stock worth $8,469,000 after acquiring an additional 95 shares during the period. Finally, Global Financial Private Client LLC grew its position in shares of Apple by 1.4% during the third quarter. Global Financial Private Client LLC now owns 71,622 shares of the iPhone maker’s stock worth $16,688,000 after purchasing an additional 1,013 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on AAPL shares. Barclays boosted their price target on Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Bank of America boosted their target price on shares of Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Argus raised shares of Apple to a “strong-buy” rating in a research note on Friday, January 31st. The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a research note on Wednesday, February 19th. Finally, Wedbush restated an “outperform” rating and set a $325.00 price objective on shares of Apple in a research report on Friday, March 14th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $243.65.

Apple Stock Up 1.9 %

NASDAQ:AAPL opened at $218.27 on Monday. The company has a market cap of $3.28 trillion, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. Apple Inc. has a twelve month low of $164.08 and a twelve month high of $260.10. 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 has a fifty day simple moving average of $231.82 and a 200-day simple moving average of $233.42.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results 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 net margin of 24.30% and a return on equity of 160.83%. Analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio is presently 15.87%.

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.