Olstein Capital Management L.P. Has $2.88 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Olstein Capital Management L.P. trimmed its position in Apple Inc. (NASDAQ:AAPL) by 11.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,500 shares of the iPhone maker’s stock after selling 1,500 shares during the period. Olstein Capital Management L.P.’s holdings in Apple were worth $2,880,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. increased its position in Apple by 254.9% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 107,030 shares of the iPhone maker’s stock worth $22,543,000 after buying an additional 76,870 shares during the period. Heritage Oak Wealth Advisors LLC bought a new stake in shares of Apple in the second quarter valued at approximately $4,442,000. Kestra Investment Management LLC acquired a new stake in shares of Apple in the second quarter worth $11,587,000. Gibson Wealth Advisors LLC increased its position in Apple by 15.0% during the second quarter. Gibson Wealth Advisors LLC now owns 6,894 shares of the iPhone maker’s stock worth $1,452,000 after acquiring an additional 900 shares during the period. Finally, RiverFront Investment Group LLC raised its stake in Apple by 13.2% during the 2nd quarter. RiverFront Investment Group LLC now owns 275,702 shares of the iPhone maker’s stock valued at $58,068,000 after purchasing an additional 32,203 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Up 0.2 %

Shares of NASDAQ:AAPL opened at $214.00 on Tuesday. 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 firm has a market cap of $3.21 trillion, a P/E ratio of 33.97, a P/E/G ratio of 2.44 and a beta of 1.18. Apple Inc. has a 12 month low of $164.08 and a 12 month high of $260.10. The company’s 50-day moving average price is $233.90 and its two-hundred day moving average price is $233.71.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS 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%. As a group, research analysts forecast 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. Investors of record on Monday, February 10th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio (DPR) is 15.87%.

Analyst Ratings Changes

Several research firms have recently issued reports on AAPL. Needham & Company LLC restated a “buy” rating and set a $260.00 price objective on shares of Apple in a report on Friday, January 31st. Wedbush reissued an “outperform” rating and set a $325.00 target price on shares of Apple in a research report on Friday. Citigroup upped their price target on Apple from $255.00 to $275.00 and gave the company a “buy” rating in a report on Friday, January 31st. Monness Crespi & Hardt lifted their price objective on Apple to $245.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Rosenblatt Securities restated a “buy” rating and set a $262.00 price objective on shares of Apple in a research report on Monday, January 27th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.