Baskin Financial Services Inc. Sells 5,815 Shares of Apple Inc. (NASDAQ:AAPL)

Baskin Financial Services Inc. trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 337,500 shares of the iPhone maker’s stock after selling 5,815 shares during the period. Apple makes up about 6.7% of Baskin Financial Services Inc.’s holdings, making the stock its largest holding. Baskin Financial Services Inc.’s holdings in Apple were worth $84,517,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. AMF Tjanstepension AB raised its holdings in shares of Apple by 21.1% in the 3rd quarter. AMF Tjanstepension AB now owns 3,380,064 shares of the iPhone maker’s stock valued at $787,631,000 after purchasing an additional 588,427 shares during the period. Ritholtz Wealth Management increased its position in Apple by 3.6% during the third quarter. Ritholtz Wealth Management now owns 491,209 shares of the iPhone maker’s stock worth $114,452,000 after buying an additional 17,284 shares during the last quarter. Burns Matteson Capital Management LLC raised its stake in Apple by 6.2% in the third quarter. Burns Matteson Capital Management LLC now owns 8,988 shares of the iPhone maker’s stock valued at $2,094,000 after buying an additional 528 shares during the period. Avondale Wealth Management lifted its position in shares of Apple by 3.2% in the third quarter. Avondale Wealth Management now owns 14,578 shares of the iPhone maker’s stock valued at $3,397,000 after buying an additional 450 shares during the last quarter. Finally, HCR Wealth Advisors boosted its stake in shares of Apple by 0.5% during the 3rd quarter. HCR Wealth Advisors now owns 530,528 shares of the iPhone maker’s stock worth $123,613,000 after acquiring an additional 2,816 shares during the period. Institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Apple stock opened at $222.13 on Tuesday. The stock has a 50-day moving average price of $230.54 and a two-hundred day moving average price of $233.42. Apple Inc. has a 12 month low of $164.08 and a 12 month high of $260.10. The company has a market capitalization of $3.34 trillion, a PE ratio of 35.26, a P/E/G ratio of 2.44 and a beta of 1.18. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.

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

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were issued 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 (DPR) is presently 15.87%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AAPL shares. Redburn Partners set a $230.00 price target on Apple in a research note on Friday, January 31st. JPMorgan Chase & Co. raised their target price on shares of Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Wedbush reiterated an “outperform” rating and issued a $325.00 price target on shares of Apple in a research note on Friday, March 14th. Oppenheimer cut shares of Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company boosted their price objective on Apple to $275.00 and gave the stock a “buy” rating in a report on Monday, December 9th. 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $245.52.

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.