Deepwater Asset Management LLC Makes New $1.92 Million Investment in Apple Inc. (NASDAQ:AAPL)

Deepwater Asset Management LLC bought a new position in shares of Apple Inc. (NASDAQ:AAPL) during the fourth quarter, HoldingsChannel.com reports. The firm bought 7,654 shares of the iPhone maker’s stock, valued at approximately $1,917,000. Apple accounts for approximately 0.6% of Deepwater Asset Management LLC’s portfolio, making the stock its 21st biggest position.

Several other hedge funds also recently made changes to their positions in the business. State Street Corp raised its position in shares of Apple by 10.6% in the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock valued at $136,074,372,000 after buying an additional 55,935,105 shares in the last quarter. FMR LLC increased its stake in Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock valued at $84,779,231,000 after acquiring an additional 18,224,005 shares during the last quarter. Geode Capital Management LLC raised its position in Apple by 6.5% during the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock valued at $77,542,863,000 after purchasing an additional 20,483,787 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Apple by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock worth $22,121,656,000 after purchasing an additional 5,893,741 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Apple by 20,372.7% in the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after purchasing an additional 93,886,664 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AAPL has been the topic of several research analyst reports. Barclays raised their price objective on Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Raymond James lifted their price target on shares of Apple to $250.00 and gave the company a “buy” rating in a report on Monday, January 20th. Evercore ISI increased their price objective on shares of Apple from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Tuesday, March 18th. Redburn Partners set a $230.00 target price on shares of Apple in a research note on Friday, January 31st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Apple in a research note on Friday, January 31st. Four analysts have rated the stock with a sell rating, nine 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 data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $245.52.

Apple Trading Up 1.9 %

Shares of Apple stock opened at $222.13 on Tuesday. The stock has a market capitalization of $3.34 trillion, a PE ratio of 35.26, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. Apple Inc. has a 52 week low of $164.08 and a 52 week high of $260.10. The stock has a 50 day moving average price of $230.54 and a two-hundred day moving average price of $233.42. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92.

Apple (NASDAQ:AAPL) last released its quarterly earnings data 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%. As a group, equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Apple Company 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.