Wealth Forward LLC Cuts Holdings in Apple Inc. (NASDAQ:AAPL)

Wealth Forward LLC decreased its stake in Apple Inc. (NASDAQ:AAPL) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,364 shares of the iPhone maker’s stock after selling 219 shares during the period. Apple accounts for about 2.2% of Wealth Forward LLC’s holdings, making the stock its 11th biggest position. Wealth Forward LLC’s holdings in Apple were worth $3,096,000 as of its most recent filing with the SEC.

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

Apple Stock Up 1.9 %

Shares of NASDAQ AAPL opened at $218.27 on Friday. The company has a market capitalization of $3.28 trillion, a price-to-earnings ratio of 34.65, 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 current ratio of 0.92 and a quick ratio of 0.88. The business has a 50-day moving average of $231.82 and a two-hundred day moving average of $233.26. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL) last announced 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 return on equity of 160.83% and a net margin of 24.30%. On average, analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Monday, February 10th. Apple’s payout ratio is currently 15.87%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AAPL. The Goldman Sachs Group reissued a “buy” rating on shares of Apple in a research report on Wednesday, February 19th. UBS Group lifted 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. Bank of America lifted their price target on shares of Apple from $253.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, January 31st. KeyCorp restated an “underweight” rating and set a $200.00 price objective on shares of Apple in a research note on Friday, January 31st. Finally, Barclays raised their price objective on shares of Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target of $243.65.

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.