Apple Inc. (NASDAQ:AAPL) is Miracle Mile Advisors LLC’s 6th Largest Position

Miracle Mile Advisors LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 5.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 516,138 shares of the iPhone maker’s stock after purchasing an additional 24,506 shares during the quarter. Apple makes up 2.7% of Miracle Mile Advisors LLC’s holdings, making the stock its 6th largest position. Miracle Mile Advisors LLC’s holdings in Apple were worth $99,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the stock. Wyrmwood Management LLC raised its stake in Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after buying an additional 69 shares during the last quarter. Atlantic Private Wealth LLC purchased a new position in shares of Apple in the first quarter worth about $30,000. Gilfoyle & Co LLC raised its position in Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after acquiring an additional 118 shares in the last quarter. Cheyne Capital Management UK LLP raised its position in Apple by 200.0% during the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock valued at $212,000 after acquiring an additional 550 shares in the last quarter. Finally, HBC Financial Services PLLC raised its position in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after acquiring an additional 80 shares in the last quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $167.04 on Friday. The company’s fifty day moving average is $175.15 and its two-hundred day moving average is $182.10. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. Apple Inc. has a 12-month low of $162.80 and a 12-month high of $199.62. The company has a market cap of $2.58 trillion, a P/E ratio of 26.02, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.09. Apple had a net margin of 26.16% and a return on equity of 156.04%. The company had revenue of $119.60 billion for the quarter, compared to the consensus estimate of $117.99 billion. During the same period in the previous year, the business earned $1.88 EPS. The company’s revenue was up 2.1% on a year-over-year basis. Equities analysts expect that Apple Inc. will post 6.54 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.57%. The ex-dividend date was Friday, February 9th. Apple’s dividend payout ratio (DPR) is currently 14.95%.

Insider Buying and Selling at Apple

In other news, Director Arthur D. Levinson sold 100,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the transaction, the director now directly owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Arthur D. Levinson sold 100,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the transaction, the director now directly owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 99,183 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the transaction, the chief executive officer now owns 3,377,407 shares in the company, valued at $574,260,512.21. The disclosure for this sale can be found here. Insiders have sold a total of 366,271 shares of company stock valued at $63,653,887 in the last three months. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wedbush reiterated an “outperform” rating and set a $250.00 price target on shares of Apple in a research report on Tuesday, April 9th. Bank of America raised Apple from a “neutral” rating to a “buy” rating and raised their price objective for the company from $208.00 to $225.00 in a report on Thursday, January 18th. Robert W. Baird raised their price objective on Apple from $186.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Maxim Group initiated coverage on Apple in a report on Wednesday. They issued a “hold” rating and a $178.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $220.00 price target on shares of Apple in a research note on Tuesday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $203.34.

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.