Apple Inc. (NASDAQ:AAPL) Position Lessened by Zimmermann Investment Management & Planning LLC

Zimmermann Investment Management & Planning LLC decreased its stake in Apple Inc. (NASDAQ:AAPL) by 98.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 964 shares of the iPhone maker’s stock after selling 53,691 shares during the quarter. Apple accounts for about 10.7% of Zimmermann Investment Management & Planning LLC’s portfolio, making the stock its 7th largest position. Zimmermann Investment Management & Planning LLC’s holdings in Apple were worth $242,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Drystone LLC purchased a new stake in Apple in the fourth quarter worth about $25,000. Bull Oak Capital LLC raised its position 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 worth $36,000 after purchasing an additional 111 shares during the last quarter. SPX Gestao de Recursos Ltda bought a new position in shares of Apple in the third quarter worth approximately $71,000. Christopher J. Hasenberg Inc boosted its stake in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the last quarter. Finally, Teachers Insurance & Annuity Association of America bought a new stake in Apple in the 3rd quarter worth about $77,000. 67.73% of the stock is currently owned by institutional investors.

Apple Trading Up 1.0 %

NASDAQ:AAPL opened at $223.85 on Friday. The business has a fifty day moving average of $230.94 and a 200-day moving average of $233.28. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The stock has a market cap of $3.36 trillion, a price-to-earnings ratio of 35.53, a PEG ratio of 2.44 and a beta of 1.18. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10.

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

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s dividend payout ratio is 15.87%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Morgan Stanley dropped their price target on shares of Apple from $275.00 to $252.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. Argus raised shares of Apple to a “strong-buy” rating in a report on Friday, January 31st. JPMorgan Chase & Co. increased their target price on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. UBS Group boosted their price objective on Apple to $236.00 and gave the stock a “hold” rating in a research note on Tuesday, February 25th. Finally, Bank of America increased their target price on shares of Apple from $253.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Four 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.65.

Apple 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.