Allen Capital Group LLC Has $23.46 Million Position in Apple Inc. (NASDAQ:AAPL)

Allen Capital Group LLC grew its stake in Apple Inc. (NASDAQ:AAPL) by 3.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 93,662 shares of the iPhone maker’s stock after buying an additional 3,346 shares during the quarter. Apple accounts for 2.8% of Allen Capital Group LLC’s holdings, making the stock its 7th biggest position. Allen Capital Group LLC’s holdings in Apple were worth $23,455,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. O Connor Financial Group LLC increased its stake in Apple by 1.2% in the 4th quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock worth $896,000 after acquiring an additional 41 shares during the last quarter. 1620 Investment Advisors Inc. boosted its stake in shares of Apple by 0.5% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock valued at $2,249,000 after purchasing an additional 45 shares in the last quarter. Carolina Wealth Advisors LLC grew its holdings in shares of Apple by 1.3% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after purchasing an additional 46 shares during the last quarter. Menard Financial Group LLC raised its position in Apple by 0.4% in the 3rd quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker’s stock worth $2,848,000 after purchasing an additional 48 shares during the period. Finally, Hanseatic Management Services Inc. lifted its stake in Apple by 1.3% in the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker’s stock worth $945,000 after purchasing an additional 48 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

Shares of AAPL opened at $220.73 on Tuesday. The business has a fifty day moving average of $231.54 and a 200 day moving average of $233.41. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The firm has a market capitalization of $3.32 trillion, a P/E ratio of 35.04, a PEG ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating 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%. As a group, sell-side analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. Apple’s payout ratio is presently 15.87%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Citigroup raised their price target on Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their target price on Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Raymond James boosted their target price on shares of Apple to $250.00 and gave the company a “buy” rating in a report on Monday, January 20th. Moffett Nathanson reiterated a “sell” rating and issued a $188.00 price target (down from $202.00) on shares of Apple in a research note on Tuesday, January 7th. Finally, Needham & Company LLC reissued a “buy” rating and set a $260.00 price target on shares of Apple in a research report on Friday, January 31st. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $243.65.

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.