Reston Wealth Management LLC Reduces Position in Apple Inc. (NASDAQ:AAPL)

Reston Wealth Management LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 3.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,299 shares of the iPhone maker’s stock after selling 158 shares during the period. Apple accounts for 0.4% of Reston Wealth Management LLC’s portfolio, making the stock its 20th biggest position. Reston Wealth Management LLC’s holdings in Apple were worth $1,076,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bull Oak Capital LLC boosted 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 valued at $36,000 after acquiring an additional 111 shares during the last quarter. Christopher J. Hasenberg Inc raised its position in Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares during the period. SPX Gestao de Recursos Ltda purchased a new position in Apple in the 3rd quarter valued at about $71,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Apple in the third quarter worth approximately $77,000. Finally, ARK Investment Management LLC acquired a new stake in Apple during the 3rd quarter worth $110,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Apple in a research note on Friday, January 31st. JPMorgan Chase & Co. increased their price target on shares of Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Wells Fargo & Company lifted their price objective on Apple to $275.00 and gave the company a “buy” rating in a research note on Monday, December 9th. DA Davidson set a $290.00 price objective on Apple in a research report on Friday, January 31st. Finally, Oppenheimer lowered shares of Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $243.65.

Apple Stock Performance

Shares of Apple stock opened at $223.75 on Wednesday. The stock’s fifty day simple moving average is $231.35 and its 200 day simple moving average is $233.43. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $3.36 trillion, a PE ratio of 35.52, a PEG ratio of 2.44 and a beta of 1.18. Apple Inc. has a 12 month low of $164.08 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share 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%. On average, research analysts predict that Apple Inc. will post 7.28 EPS for the current 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 paid 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 0.45%. Apple’s dividend payout ratio is 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.