Horst & Graben Wealth Management LLC Sells 1,448 Shares of Apple Inc. (NASDAQ:AAPL)

Horst & Graben Wealth Management LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 42,639 shares of the iPhone maker’s stock after selling 1,448 shares during the period. Apple accounts for 1.9% of Horst & Graben Wealth Management LLC’s holdings, making the stock its 17th biggest holding. Horst & Graben Wealth Management LLC’s holdings in Apple were worth $10,678,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AAPL. Drystone LLC purchased a new stake in shares of Apple during the fourth quarter valued at about $25,000. Bull Oak Capital LLC raised its stake 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 worth $36,000 after acquiring an additional 111 shares in the last quarter. SPX Gestao de Recursos Ltda purchased a new stake in Apple during the third quarter valued at approximately $71,000. Teachers Insurance & Annuity Association of America acquired a new stake in Apple in the third quarter valued at approximately $77,000. Finally, ARK Investment Management LLC purchased a new position in Apple in the third quarter worth $110,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

NASDAQ:AAPL opened at $222.13 on Tuesday. The stock has a market capitalization of $3.34 trillion, a PE ratio of 35.26, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. Apple Inc. has a 52 week low of $164.08 and a 52 week high of $260.10. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The stock’s 50-day moving average price is $230.54 and its 200-day moving average price is $233.42.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data 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%. As a group, equities analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently commented on AAPL shares. Wedbush reiterated an “outperform” rating and set a $325.00 price objective on shares of Apple in a report on Friday, March 14th. Citigroup increased their price target on Apple from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Bank of America boosted their price target on Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Loop Capital lowered shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective for the company. in a research report on Tuesday, January 21st. Finally, Redburn Partners set a $230.00 target price on shares of Apple in a research report on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, nine 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, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $245.52.

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.