Fourpath Capital Management LLC Sells 448 Shares of Apple Inc. (NASDAQ:AAPL)

Fourpath Capital Management LLC decreased its stake in Apple Inc. (NASDAQ:AAPL) by 0.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 54,754 shares of the iPhone maker’s stock after selling 448 shares during the quarter. Apple makes up approximately 2.5% of Fourpath Capital Management LLC’s holdings, making the stock its 7th largest position. Fourpath Capital Management LLC’s holdings in Apple were worth $13,712,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Drystone LLC acquired a new position in Apple during the fourth quarter valued at approximately $25,000. Bull Oak Capital LLC grew its stake in shares of Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares during the last quarter. SPX Gestao de Recursos Ltda bought a new position in shares of Apple during the 3rd quarter worth about $71,000. Teachers Insurance & Annuity Association of America acquired a new stake in Apple during the third quarter worth about $77,000. Finally, ARK Investment Management LLC bought a new position in Apple during the third quarter valued at about $110,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Up 0.5 %

Shares of AAPL opened at $223.19 on Wednesday. The firm has a market capitalization of $3.35 trillion, a price-to-earnings ratio of 35.43, a PEG 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 debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The business’s fifty day moving average price is $230.55 and its two-hundred day moving average price is $233.43.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS 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%. On average, analysts predict 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. Investors of record on Monday, February 10th were paid 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 was Monday, February 10th. Apple’s dividend payout ratio (DPR) is 15.87%.

Wall Street Analyst Weigh In

A number of brokerages have commented on AAPL. UBS Group raised their price objective on Apple to $236.00 and gave the stock a “hold” rating in a research report on Tuesday, February 25th. Bank of America lifted their price target on shares of Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. increased their price objective on shares of Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Needham & Company LLC reiterated a “buy” rating and set a $260.00 target price on shares of Apple in a research report on Friday, January 31st. Finally, Morgan Stanley dropped their price target 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 research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Apple currently has an average 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.