Apple Inc. (NASDAQ:AAPL) Holdings Cut by AM Investment Strategies LLC

AM Investment Strategies LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 5.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 337,142 shares of the iPhone maker’s stock after selling 21,002 shares during the period. Apple accounts for about 20.6% of AM Investment Strategies LLC’s holdings, making the stock its biggest holding. AM Investment Strategies LLC’s holdings in Apple were worth $84,427,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Eclectic Associates Inc. ADV raised its position in shares of Apple by 57.9% in the fourth quarter. Eclectic Associates Inc. ADV now owns 48,365 shares of the iPhone maker’s stock valued at $12,112,000 after buying an additional 17,736 shares during the last quarter. Goelzer Investment Management Inc. raised its position in shares of Apple by 0.9% in the fourth quarter. Goelzer Investment Management Inc. now owns 153,462 shares of the iPhone maker’s stock valued at $38,430,000 after buying an additional 1,354 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Apple by 0.4% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 626,881 shares of the iPhone maker’s stock valued at $156,983,000 after buying an additional 2,350 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of Apple by 64.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 664,870 shares of the iPhone maker’s stock valued at $166,497,000 after buying an additional 260,271 shares during the last quarter. Finally, CX Institutional raised its position in shares of Apple by 11.7% in the fourth quarter. CX Institutional now owns 176,965 shares of the iPhone maker’s stock valued at $44,316,000 after buying an additional 18,481 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Up 1.8 %

Shares of Apple stock opened at $213.49 on Monday. Apple Inc. has a 52-week low of $164.08 and a 52-week high of $260.10. The company has a 50 day moving average of $234.52 and a 200 day moving average of $233.82. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $3.21 trillion, a P/E ratio of 33.89, a P/E/G ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping 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, research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.47%. Apple’s payout ratio is currently 15.87%.

Analyst Ratings Changes

AAPL has been the subject of a number of recent research reports. Wedbush reiterated an “outperform” rating and issued a $325.00 target price on shares of Apple in a research report on Friday. Redburn Partners set a $230.00 price objective on shares of Apple in a research report on Friday, January 31st. Wells Fargo & Company raised their price objective on shares of Apple to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. The Goldman Sachs Group restated a “buy” rating on shares of Apple in a research report on Wednesday, February 19th. Finally, Loop Capital cut shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective for the company. in a research report on Tuesday, January 21st. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.22.

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.