Coastwise Capital Group LLC Sells 408 Shares of Apple Inc. (NASDAQ:AAPL)

Coastwise Capital Group LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,645 shares of the iPhone maker’s stock after selling 408 shares during the period. Apple makes up approximately 6.7% of Coastwise Capital Group LLC’s investment portfolio, making the stock its 2nd biggest position. Coastwise Capital Group LLC’s holdings in Apple were worth $8,425,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Drystone LLC acquired a new stake in Apple in the 4th quarter valued at about $25,000. Bull Oak Capital LLC raised its holdings in shares of Apple by 252.3% in 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 in the last quarter. Christopher J. Hasenberg Inc lifted its stake in Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the last quarter. SPX Gestao de Recursos Ltda bought a new stake in Apple during the third quarter worth approximately $71,000. Finally, Teachers Insurance & Annuity Association of America acquired a new position in Apple in the third quarter worth approximately $77,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of recent analyst reports. UBS Group increased their price target on Apple to $236.00 and gave the company a “hold” rating in a research report on Tuesday, February 25th. Monness Crespi & Hardt upped their price objective on shares of Apple to $245.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. TD Cowen reissued a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. DA Davidson set a $290.00 price target on shares of Apple in a research report on Friday, January 31st. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a research note on Wednesday, February 19th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $243.65.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $223.85 on Friday. The business has a fifty day moving average of $230.94 and a 200-day moving average of $233.28. 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 Inc. has a twelve month low of $164.08 and a twelve month high of $260.10. The firm has a market cap of $3.36 trillion, a PE ratio of 35.53, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 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%. On average, equities research analysts predict 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. Investors of record on Monday, February 10th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio (DPR) is presently 15.87%.

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.