Adamsbrown Wealth Consultants LLC Reduces Position in Apple Inc. (NASDAQ:AAPL)

Adamsbrown Wealth Consultants LLC trimmed its position in Apple Inc. (NASDAQ:AAPL) by 5.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 27,475 shares of the iPhone maker’s stock after selling 1,536 shares during the period. Apple accounts for 2.3% of Adamsbrown Wealth Consultants LLC’s investment portfolio, making the stock its 12th biggest holding. Adamsbrown Wealth Consultants LLC’s holdings in Apple were worth $6,880,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Drystone LLC acquired a new stake in Apple during the fourth quarter worth about $25,000. Bull Oak Capital LLC increased its holdings in shares of Apple by 252.3% during 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 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 purchased a new stake in Apple during the third quarter worth $77,000. Finally, ARK Investment Management LLC acquired a new stake in Apple during the third quarter valued at $110,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AAPL shares. Wells Fargo & Company upped their price objective on shares of Apple to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Maxim Group raised their price objective on Apple to $215.00 and gave the company a “hold” rating in a report on Friday, February 21st. Citigroup boosted their price objective on Apple from $255.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, January 31st. The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a research report on Wednesday, February 19th. Finally, Morgan Stanley reduced their price objective on shares of Apple from $275.00 to $252.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $245.52.

Apple Trading Up 1.9 %

Shares of AAPL stock opened at $222.13 on Tuesday. Apple Inc. has a fifty-two week low of $164.08 and a fifty-two week high of $260.10. The company has a 50 day moving average price of $230.54 and a 200 day moving average price of $233.42. The stock has a market capitalization of $3.34 trillion, a P/E ratio of 35.26, a price-to-earnings-growth 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 posted its quarterly earnings results 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 net margin of 24.30% and a return on equity of 160.83%. Equities research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio is presently 15.87%.

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.