Geneos Wealth Management Inc. Trims Position in Apple Inc. (NASDAQ:AAPL)

Geneos Wealth Management Inc. cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 12.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 161,066 shares of the iPhone maker’s stock after selling 22,188 shares during the period. Apple comprises approximately 1.4% of Geneos Wealth Management Inc.’s holdings, making the stock its 6th largest holding. Geneos Wealth Management Inc.’s holdings in Apple were worth $40,334,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bull Oak Capital LLC increased its stake in shares of Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares during the last quarter. SPX Gestao de Recursos Ltda bought a new stake in shares of Apple during the 3rd quarter worth approximately $71,000. Christopher J. Hasenberg Inc lifted its holdings in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares during the period. Teachers Insurance & Annuity Association of America bought a new stake in shares of Apple during the 3rd quarter worth approximately $77,000. Finally, ARK Investment Management LLC bought a new position in Apple in the 3rd quarter valued at approximately $110,000. 67.73% of the stock is owned by institutional investors.

Apple Price Performance

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 stock has a market capitalization of $3.21 trillion, a price-to-earnings ratio of 33.89, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. The company has a fifty day moving average of $234.52 and a 200-day moving average of $233.82. 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 quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating 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%. Equities research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.47%. Apple’s payout ratio is 15.87%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. UBS Group upped their price target on shares of Apple to $236.00 and gave the company a “hold” rating in a research report on Tuesday, February 25th. Oppenheimer cut shares of Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Morgan Stanley dropped their price objective on shares of Apple from $275.00 to $252.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. Rosenblatt Securities reissued a “buy” rating and set a $262.00 price target on shares of Apple in a research report on Monday, January 27th. Finally, Redburn Partners set a $230.00 price objective on shares of Apple in a report on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $243.22.

Apple 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.