Ridgecrest Wealth Partners LLC Sells 590 Shares of Apple Inc. (NASDAQ:AAPL)

Ridgecrest Wealth Partners LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 104,837 shares of the iPhone maker’s stock after selling 590 shares during the period. Apple accounts for about 14.2% of Ridgecrest Wealth Partners LLC’s holdings, making the stock its biggest holding. Ridgecrest Wealth Partners LLC’s holdings in Apple were worth $26,253,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in Apple by 20,372.7% in the third 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 acquiring an additional 93,886,664 shares in the last quarter. State Street Corp boosted its stake in shares of 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 purchasing an additional 55,935,105 shares during the period. 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 purchasing an additional 20,483,787 shares in the last quarter. FMR LLC increased its stake in Apple by 5.3% during the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after buying an additional 18,224,005 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in 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 worth $22,121,656,000 after buying an additional 5,893,741 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Trading Down 0.5 %

Shares of Apple stock opened at $214.10 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10. The firm has a market cap of $3.22 trillion, a PE ratio of 33.98, a PEG ratio of 2.44 and a beta of 1.18. The company has a 50 day simple moving average of $232.19 and a two-hundred day simple moving average of $233.33.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s payout ratio is 15.87%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Maxim Group increased their price target on Apple to $215.00 and gave the company a “hold” rating in a report on Friday, February 21st. Barclays increased their target price on Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Sanford C. Bernstein lifted their price target on shares of Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Oppenheimer downgraded shares of Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Finally, Raymond James raised their price objective on shares of Apple to $250.00 and gave the stock a “buy” rating in a report on Monday, January 20th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock 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.