Fortress Wealth Management Inc. Sells 121 Shares of Apple Inc. (NASDAQ:AAPL)

Fortress Wealth Management Inc. lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,540 shares of the iPhone maker’s stock after selling 121 shares during the quarter. Apple comprises 1.5% of Fortress Wealth Management Inc.’s portfolio, making the stock its 18th biggest holding. Fortress Wealth Management Inc.’s holdings in Apple were worth $3,140,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp grew its holdings in Apple by 10.6% during the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock valued at $136,074,372,000 after buying an additional 55,935,105 shares in the last quarter. FMR LLC grew its holdings in Apple by 5.3% during the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock valued at $84,779,231,000 after buying an additional 18,224,005 shares in the last quarter. Geode Capital Management LLC grew its holdings in Apple by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock valued at $77,542,863,000 after buying an additional 20,483,787 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in 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 valued at $22,121,656,000 after buying an additional 5,893,741 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in 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 valued at $219,829,700,000 after buying an additional 93,886,664 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on AAPL. Bank of America raised their price target on Apple from $253.00 to $265.00 and gave the company a “buy” rating in a report on Friday, January 31st. UBS Group lifted their target price on Apple to $236.00 and gave the stock a “hold” rating in a report on Tuesday, February 25th. Moffett Nathanson reiterated a “sell” rating and issued a $188.00 target price (down previously from $202.00) on shares of Apple in a report on Tuesday, January 7th. Citigroup lifted their target price on Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Finally, Maxim Group lifted their target price on Apple to $215.00 and gave the stock a “hold” rating in a report on Friday, February 21st. Four research 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 stock. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $243.65.

Apple Trading Up 1.9 %

NASDAQ:AAPL opened at $218.27 on Friday. The stock has a market capitalization of $3.28 trillion, a price-to-earnings ratio of 34.65, a PEG ratio of 2.44 and a beta of 1.18. Apple Inc. has a 52 week low of $164.08 and a 52 week high of $260.10. 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 50 day moving average of $231.82 and a 200 day moving average of $233.33.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. As a group, sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

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

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.