Synergy Asset Management LLC Has $44.72 Million Position in Apple Inc. (NASDAQ:AAPL)

Synergy Asset Management LLC increased its stake in Apple Inc. (NASDAQ:AAPL) by 7.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 183,398 shares of the iPhone maker’s stock after purchasing an additional 12,846 shares during the period. Apple makes up 3.5% of Synergy Asset Management LLC’s holdings, making the stock its 5th biggest holding. Synergy Asset Management LLC’s holdings in Apple were worth $44,722,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Drystone LLC bought a new stake in shares of Apple during the 4th quarter worth approximately $25,000. Bull Oak Capital LLC raised its position in Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares in the last quarter. Christopher J. Hasenberg Inc lifted its stake in Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the last quarter. SPX Gestao de Recursos Ltda acquired a new stake in shares of Apple in the 3rd quarter valued at $71,000. Finally, Teachers Insurance & Annuity Association of America bought a new position in shares of Apple in the 3rd quarter valued at $77,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AAPL. Argus upgraded Apple to a “strong-buy” rating in a research report on Friday, January 31st. Jefferies Financial Group restated an “underperform” rating on shares of Apple in a research note on Wednesday, February 19th. KeyCorp reiterated an “underweight” rating and set a $200.00 price objective on shares of Apple in a research report on Friday, January 31st. The Goldman Sachs Group restated a “buy” rating on shares of Apple in a research report on Wednesday, February 19th. Finally, DA Davidson set a $290.00 price target on shares of Apple in a report on Friday, January 31st. Four investment 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $243.65.

Apple Stock Up 1.4 %

Shares of Apple stock opened at $223.75 on Wednesday. The stock’s 50-day moving average is $231.35 and its 200 day moving average is $233.43. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The firm has a market cap of $3.36 trillion, a price-to-earnings ratio of 35.52, a PEG ratio of 2.44 and a beta of 1.18. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Equities research 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. Shareholders of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Monday, February 10th. Apple’s payout ratio is 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.