Apple Inc. (NASDAQ:AAPL) Stock Position Reduced by New Wave Wealth Advisors LLC

New Wave Wealth Advisors LLC decreased its stake in Apple Inc. (NASDAQ:AAPL) by 4.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,061 shares of the iPhone maker’s stock after selling 1,095 shares during the quarter. Apple makes up about 2.3% of New Wave Wealth Advisors LLC’s holdings, making the stock its 7th biggest position. New Wave Wealth Advisors LLC’s holdings in Apple were worth $5,524,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. State Street Corp grew its stake 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 purchasing an additional 55,935,105 shares in the last quarter. FMR LLC lifted its holdings in shares of Apple by 5.3% during the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock valued at $84,779,231,000 after buying an additional 18,224,005 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Apple by 6.5% in 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 buying an additional 20,483,787 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Apple by 6.6% in the third 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 during the last quarter. Finally, International Assets Investment Management LLC raised its position in Apple by 20,372.7% during 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. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on AAPL shares. UBS Group upped their price target on Apple to $236.00 and gave the stock a “hold” rating in a research note on Tuesday, February 25th. Maxim Group lifted their price target on shares of Apple to $215.00 and gave the company a “hold” rating in a research report on Friday, February 21st. Wedbush restated an “outperform” rating and set a $325.00 target price on shares of Apple in a research note on Friday, March 14th. JPMorgan Chase & Co. raised 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. Finally, Bank of America boosted their price objective on Apple from $253.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $243.65.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $223.85 on Friday. Apple Inc. has a 12 month low of $164.08 and a 12 month high of $260.10. 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 stock has a market cap of $3.36 trillion, a P/E ratio of 35.53, a P/E/G ratio of 2.44 and a beta of 1.18. The company has a 50 day moving average of $230.94 and a 200 day moving average of $233.28.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping 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%. As a group, sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

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 $0.25 dividend. 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 (DPR) 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.