Gemmer Asset Management LLC Has $12.85 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Gemmer Asset Management LLC cut its position in Apple Inc. (NASDAQ:AAPL) by 1.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 51,331 shares of the iPhone maker’s stock after selling 820 shares during the quarter. Apple accounts for 1.3% of Gemmer Asset Management LLC’s portfolio, making the stock its 24th biggest holding. Gemmer Asset Management LLC’s holdings in Apple were worth $12,854,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in shares of Apple by 20,372.7% during the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after buying an additional 93,886,664 shares in the last quarter. State Street Corp lifted its position in shares of Apple by 10.6% during the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after buying an additional 55,935,105 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Apple by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock worth $77,542,863,000 after buying an additional 20,483,787 shares in the last quarter. FMR LLC lifted its position in shares of Apple by 5.3% during the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after buying an additional 18,224,005 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Apple by 6.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock worth $22,121,656,000 after buying an additional 5,893,741 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Stock Up 1.6 %

Shares of NASDAQ:AAPL opened at $239.07 on Friday. Apple Inc. has a 52-week low of $164.08 and a 52-week high of $260.10. The firm has a fifty day moving average of $237.56 and a 200 day moving average of $234.08. The firm has a market capitalization of $3.59 trillion, a PE ratio of 37.95, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. 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 announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (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%. As a group, research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio is presently 15.87%.

Analyst Ratings Changes

AAPL has been the topic of a number of research reports. DA Davidson set a $290.00 price target on shares of Apple in a report on Friday, January 31st. Morgan Stanley set a $275.00 price target on shares of Apple in a report on Tuesday, February 11th. Citigroup lifted their price target on shares of Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Wells Fargo & Company lifted their price target on shares of Apple to $275.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Barclays lifted their price target on shares of Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $243.88.

Insiders Place Their Bets

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by insiders.

About Apple

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.