Inlet Private Wealth LLC Sells 4,502 Shares of Apple Inc. (NASDAQ:AAPL)

Inlet Private Wealth LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 5.0% during the fourth quarter, Holdings Channel reports. The fund owned 85,085 shares of the iPhone maker’s stock after selling 4,502 shares during the period. Apple makes up 5.6% of Inlet Private Wealth LLC’s holdings, making the stock its largest holding. Inlet Private Wealth LLC’s holdings in Apple were worth $21,307,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Drystone LLC acquired a new position in shares of Apple in the fourth quarter valued at approximately $25,000. Bull Oak Capital LLC boosted its stake in 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 purchasing an additional 111 shares during the period. SPX Gestao de Recursos Ltda acquired a new position in Apple in the 3rd quarter valued at $71,000. Teachers Insurance & Annuity Association of America bought a new position in Apple during the 3rd quarter worth $77,000. Finally, ARK Investment Management LLC acquired a new stake in shares of Apple during the third quarter worth $110,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on AAPL. Wedbush restated an “outperform” rating and issued a $325.00 price target on shares of Apple in a research note on Friday, March 14th. Evercore ISI increased their target price on shares of Apple from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 18th. Oppenheimer downgraded shares of Apple from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. Citigroup increased their price target on Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, Rosenblatt Securities restated a “buy” rating and set a $262.00 price objective on shares of Apple in a research note on Monday, January 27th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $245.52.

Apple Trading Down 2.7 %

NASDAQ:AAPL opened at $217.90 on Friday. Apple Inc. has a 52 week low of $164.08 and a 52 week high of $260.10. The firm’s fifty day moving average is $230.70 and its 200-day moving average is $233.35. The firm has a market cap of $3.27 trillion, a P/E ratio of 34.59, a P/E/G ratio of 2.44 and a beta of 1.18. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92.

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

Apple Announces Dividend

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

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.