Cadinha & Co. LLC Trims Position in Apple Inc. (NASDAQ:AAPL)

Cadinha & Co. LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.8% during the 4th quarter, HoldingsChannel reports. The fund owned 22,099 shares of the iPhone maker’s stock after selling 626 shares during the quarter. Apple comprises approximately 0.9% of Cadinha & Co. LLC’s portfolio, making the stock its 25th biggest holding. Cadinha & Co. LLC’s holdings in Apple were worth $5,534,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. State Street Corp lifted its holdings in Apple by 10.6% in the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock valued at $136,074,372,000 after acquiring an additional 55,935,105 shares during the last quarter. FMR LLC increased its stake in Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after acquiring an additional 18,224,005 shares during the last quarter. Geode Capital Management LLC raised its position in Apple by 6.5% in the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock valued at $77,542,863,000 after purchasing an additional 20,483,787 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Apple by 6.6% in 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 purchasing an additional 5,893,741 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of 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 worth $219,829,700,000 after purchasing an additional 93,886,664 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is currently owned by company insiders.

Apple Stock Down 0.1 %

Apple stock opened at $235.74 on Thursday. The company has a market capitalization of $3.54 trillion, a P/E ratio of 37.42, a PEG ratio of 2.44 and a beta of 1.20. 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 fifty-two week low of $164.08 and a fifty-two week high of $260.10. The stock has a 50-day simple moving average of $238.36 and a 200-day simple moving average of $233.93.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating 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%. Equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.42%. The ex-dividend date was Monday, February 10th. Apple’s payout ratio is currently 15.87%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AAPL. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Apple in a research note on Friday, January 31st. Wells Fargo & Company increased their price objective on shares of Apple to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Loop Capital lowered Apple from a “buy” rating to a “hold” rating and set a $230.00 target price on the stock. in a research report on Tuesday, January 21st. UBS Group raised their price target on Apple to $236.00 and gave the stock a “hold” rating in a research report on Tuesday, February 25th. Finally, Citigroup lifted their price objective on Apple from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $243.88.

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.