New Millennium Group LLC Raises Stock Holdings in Apple Inc. (NASDAQ:AAPL)

New Millennium Group LLC increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,857 shares of the iPhone maker’s stock after purchasing an additional 2,209 shares during the period. Apple makes up 8.2% of New Millennium Group LLC’s portfolio, making the stock its 3rd biggest position. New Millennium Group LLC’s holdings in Apple were worth $13,988,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AAPL. Brewster Financial Planning LLC bought a new position in Apple in the fourth quarter valued at $254,000. Scharf Investments LLC lifted its holdings in Apple by 3.1% during the 4th quarter. Scharf Investments LLC now owns 17,296 shares of the iPhone maker’s stock worth $4,331,000 after purchasing an additional 527 shares during the last quarter. Total Clarity Wealth Management Inc. raised its stake in Apple by 0.5% in the 4th quarter. Total Clarity Wealth Management Inc. now owns 27,728 shares of the iPhone maker’s stock worth $6,944,000 after purchasing an additional 143 shares in the last quarter. Brown Financial Advisory increased its stake in Apple by 31.7% during the 4th quarter. Brown Financial Advisory now owns 1,798 shares of the iPhone maker’s stock worth $450,000 after acquiring an additional 433 shares during the period. Finally, Clear Creek Financial Management LLC raised its position in shares of Apple by 26.7% in the 4th quarter. Clear Creek Financial Management LLC now owns 59,332 shares of the iPhone maker’s stock valued at $14,858,000 after buying an additional 12,501 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Down 2.7 %

Shares of NASDAQ:AAPL opened at $217.90 on Friday. The company has a market cap of $3.27 trillion, a price-to-earnings ratio of 34.59, a PEG ratio of 2.44 and a beta of 1.18. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The firm has a fifty day moving average price of $230.70 and a two-hundred day moving average price of $233.26. 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 announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share 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%. Analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AAPL shares. Evercore ISI lifted their target price on Apple from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Tuesday, March 18th. Bank of America boosted their price target on shares of Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Wedbush reiterated an “outperform” rating and issued a $325.00 price objective on shares of Apple in a research note on Friday, March 14th. TD Cowen reiterated a “buy” rating on shares of Apple in a report on Tuesday, January 28th. Finally, Loop Capital cut shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price target on the stock. in a research report on Tuesday, January 21st. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $245.52.

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.