Level Wealth Management LLC Makes New Investment in Apple Inc. (NASDAQ:AAPL)

Level Wealth Management LLC bought a new stake in shares of Apple Inc. (NASDAQ:AAPL) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 3,200 shares of the iPhone maker’s stock, valued at approximately $801,000. Apple comprises 0.6% of Level Wealth Management LLC’s portfolio, making the stock its 17th biggest holding.

Several other large investors also recently modified their holdings of the stock. Tanglewood Wealth Management Inc. raised its stake in Apple by 27.7% in the fourth quarter. Tanglewood Wealth Management Inc. now owns 3,056 shares of the iPhone maker’s stock valued at $765,000 after purchasing an additional 663 shares in the last quarter. SkyOak Wealth LLC increased its holdings in Apple by 1.4% in the 4th quarter. SkyOak Wealth LLC now owns 92,577 shares of the iPhone maker’s stock valued at $23,183,000 after buying an additional 1,239 shares during the period. McAdam LLC raised its position in shares of Apple by 4.1% in the 4th quarter. McAdam LLC now owns 81,595 shares of the iPhone maker’s stock valued at $20,433,000 after buying an additional 3,210 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its position in shares of Apple by 0.5% in the 4th quarter. Riggs Asset Managment Co. Inc. now owns 50,677 shares of the iPhone maker’s stock valued at $12,781,000 after buying an additional 238 shares in the last quarter. Finally, Pacific Sage Partners LLC lifted its holdings in shares of Apple by 4.1% during the 4th quarter. Pacific Sage Partners LLC now owns 34,096 shares of the iPhone maker’s stock worth $8,538,000 after acquiring an additional 1,351 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the stock. The Goldman Sachs Group restated a “buy” rating on shares of Apple in a research report on Wednesday, February 19th. Wedbush reissued an “outperform” rating and set a $325.00 price target on shares of Apple in a report on Friday, March 14th. TD Cowen reaffirmed a “buy” rating on shares of Apple in a research note on Tuesday, January 28th. Citigroup lifted their target price on Apple from $255.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $262.00 target price on shares of Apple in a report on Monday, January 27th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $245.52.

Apple Stock Down 2.7 %

Shares of NASDAQ:AAPL opened at $217.90 on Monday. The business’s 50-day moving average is $230.70 and its 200-day moving average is $233.43. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10. The company has a market capitalization of $3.27 trillion, a price-to-earnings ratio of 34.59, a P/E/G 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 announced its quarterly earnings data 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%. Equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. Apple’s dividend payout ratio (DPR) 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.