Asset Management Advisors LLC Sells 6,575 Shares of Apple Inc. (NASDAQ:AAPL)

Asset Management Advisors LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 16.3% during the 4th quarter, HoldingsChannel reports. The firm owned 33,875 shares of the iPhone maker’s stock after selling 6,575 shares during the quarter. Apple comprises approximately 6.2% of Asset Management Advisors LLC’s holdings, making the stock its 4th largest position. Asset Management Advisors LLC’s holdings in Apple were worth $8,483,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AAPL. Drystone LLC acquired a new stake in Apple in the fourth quarter valued at approximately $25,000. Bull Oak Capital LLC lifted its stake 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 valued at $36,000 after acquiring an additional 111 shares during the last quarter. SPX Gestao de Recursos Ltda acquired a new stake in shares of Apple during the 3rd quarter valued at $71,000. Teachers Insurance & Annuity Association of America bought a new stake in Apple during the 3rd quarter worth $77,000. Finally, ARK Investment Management LLC acquired a new position in Apple in the 3rd quarter worth about $110,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Up 0.5 %

Shares of NASDAQ:AAPL opened at $223.19 on Wednesday. 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 52-week low of $164.08 and a 52-week high of $260.10. The business’s 50 day simple moving average is $230.55 and its two-hundred day simple moving average is $233.43. The firm has a market cap of $3.35 trillion, a P/E ratio of 35.43, a PEG ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last issued its 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%. 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 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio is currently 15.87%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Bank of America lifted their price target on Apple from $253.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, January 31st. The Goldman Sachs Group reissued a “buy” rating on shares of Apple in a report on Wednesday, February 19th. Jefferies Financial Group restated an “underperform” rating on shares of Apple in a research report on Wednesday, February 19th. Rosenblatt Securities reissued a “buy” rating and issued a $262.00 price objective on shares of Apple in a research note on Monday, January 27th. Finally, Wells Fargo & Company increased their price objective on Apple to $275.00 and gave the company a “buy” rating in a report on Monday, December 9th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $245.52.

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.