Apple Inc. (NASDAQ:AAPL) Shares Sold by Wealth Effects LLC

Wealth Effects LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 87,855 shares of the iPhone maker’s stock after selling 2,757 shares during the quarter. Apple comprises approximately 7.8% of Wealth Effects LLC’s holdings, making the stock its 3rd largest position. Wealth Effects LLC’s holdings in Apple were worth $22,001,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bull Oak Capital LLC raised its stake in shares of Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares in the last quarter. Christopher J. Hasenberg Inc raised its stake in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after buying an additional 144 shares in the last quarter. SPX Gestao de Recursos Ltda acquired a new position in shares of Apple in the 3rd quarter valued at $71,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Apple during the 3rd quarter worth about $77,000. Finally, ARK Investment Management LLC acquired a new stake in shares of Apple during the 3rd quarter valued at about $110,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Up 1.9 %

Apple stock opened at $218.27 on Friday. 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 company has a market capitalization of $3.28 trillion, a P/E ratio of 34.65, a P/E/G ratio of 2.44 and a beta of 1.18. The firm has a 50 day moving average price of $231.82 and a 200-day moving average price of $233.33. Apple Inc. has a twelve month low of $164.08 and a twelve month high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating 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%. As a group, equities analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. TD Cowen reaffirmed a “buy” rating on shares of Apple in a research note on Tuesday, January 28th. Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Apple in a research note on Friday, January 31st. Argus upgraded shares of Apple to a “strong-buy” rating in a research report on Friday, January 31st. Citigroup boosted their price target on shares of Apple from $255.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, Bank of America raised their price objective on shares of Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $243.65.

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.