Outfitter Financial LLC Buys New Holdings in Apple Inc. (NASDAQ:AAPL)


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Outfitter Financial LLC bought a new stake in Apple Inc. (NASDAQ:AAPL) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 30,015 shares of the iPhone maker’s stock, valued at approximately $3,969,000. Apple comprises about 3.8% of Outfitter Financial LLC’s portfolio, making the stock its 2nd biggest holding.

Other institutional investors have also recently modified their holdings of the company. Ironwood Wealth Management LLC. raised its position in Apple by 304.8% in the third quarter. Ironwood Wealth Management LLC. now owns 12,681 shares of the iPhone maker’s stock valued at $1,469,000 after purchasing an additional 9,548 shares during the period. MRJ Capital Inc. raised its position in Apple by 270.3% in the third quarter. MRJ Capital Inc. now owns 81,262 shares of the iPhone maker’s stock valued at $9,410,000 after purchasing an additional 59,318 shares during the period. Citizens National Bank Trust Department raised its position in Apple by 303.1% in the third quarter. Citizens National Bank Trust Department now owns 143,060 shares of the iPhone maker’s stock valued at $16,567,000 after purchasing an additional 107,569 shares during the period. Viridian Ria LLC raised its position in Apple by 301.1% in the third quarter. Viridian Ria LLC now owns 18,918 shares of the iPhone maker’s stock valued at $2,191,000 after purchasing an additional 14,201 shares during the period. Finally, Courier Capital LLC raised its position in Apple by 261.8% in the third quarter. Courier Capital LLC now owns 402,514 shares of the iPhone maker’s stock valued at $47,774,000 after purchasing an additional 291,267 shares during the period. Hedge funds and other institutional investors own 57.77% of the company’s stock.

A number of analysts have recently issued reports on AAPL shares. Smith Barney Citigroup lifted their target price on Apple from $125.00 to $150.00 in a research report on Friday, December 18th. Credit Suisse Group lifted their target price on Apple from $120.00 to $140.00 and gave the stock a “neutral” rating in a research report on Thursday, January 28th. They noted that the move was a valuation call. Wells Fargo & Company lifted their target price on Apple from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, January 28th. Fundamental Research lifted their target price on Apple from $113.91 to $148.12 and gave the stock a “buy” rating in a research report on Friday, February 5th. Finally, Sanford C. Bernstein set a $132.00 target price on Apple and gave the stock a “neutral” rating in a research report on Monday, March 8th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-eight have given a buy rating to the company’s stock. Apple presently has an average rating of “Buy” and a consensus price target of $135.03.

In other Apple news, COO Jeffrey E. Williams sold 133,867 shares of the company’s stock in a transaction on Monday, April 5th. The stock was sold at an average price of $125.74, for a total value of $16,832,436.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.06% of the stock is currently owned by corporate insiders.

Shares of NASDAQ:AAPL opened at $127.90 on Thursday. Apple Inc. has a 12 month low of $65.31 and a 12 month high of $145.09. The stock has a market cap of $2.15 trillion, a price-to-earnings ratio of 39.23, a PEG ratio of 2.75 and a beta of 1.28. The stock’s 50 day moving average price is $123.20 and its 200 day moving average price is $123.53. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.36 and a quick ratio of 1.33.

Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, January 26th. The iPhone maker reported $1.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.27. Apple had a return on equity of 75.15% and a net margin of 20.91%. The firm had revenue of $111.40 billion for the quarter, compared to analysts’ expectations of $103.24 billion. During the same quarter in the previous year, the company earned $1.25 earnings per share. The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. On average, sell-side analysts expect that Apple Inc. will post 4.03 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, February 11th. Investors of record on Monday, February 8th were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Friday, February 5th. This represents a $0.82 annualized dividend and a yield of 0.64%. Apple’s payout ratio is 25.00%.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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