Apple Inc. (NASDAQ:AAPL) Position Trimmed by Brass Tax Wealth Management Inc.
Brass Tax Wealth Management Inc. trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 3.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 41,438 shares of the iPhone maker’s stock after selling 1,484 shares during the period. Apple makes up approximately 3.7% of Brass Tax Wealth Management Inc.’s portfolio, making the stock its 6th largest holding. Brass Tax Wealth Management Inc.’s holdings in Apple were worth $9,655,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its stake in Apple by 20,372.7% in the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after purchasing an additional 93,886,664 shares in the last quarter. State Street Corp raised its holdings in Apple by 10.6% in the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after buying an additional 55,935,105 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Apple by 6.5% in the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock worth $77,542,863,000 after buying an additional 20,483,787 shares in the last quarter. FMR LLC grew its holdings in shares of Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock valued at $84,779,231,000 after buying an additional 18,224,005 shares during the last quarter. Finally, Strategic Financial Concepts LLC increased its position in shares of Apple by 14,145.8% during the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after acquiring an additional 7,558,826 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.
Insiders Place Their Bets
In other Apple news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.
Apple Stock Performance
NASDAQ AAPL opened at $244.60 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10. The business has a 50-day moving average price of $240.70 and a 200-day moving average price of $231.59. The firm has a market cap of $3.67 trillion, a price-to-earnings ratio of 38.83, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20.
Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping 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 research analysts predict 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. Shareholders of record on Monday, February 10th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.41%. Apple’s dividend payout ratio is currently 15.87%.
Wall Street Analysts Forecast Growth
AAPL has been the topic of several analyst reports. Jefferies Financial Group cut Apple from a “hold” rating to an “underperform” rating and lowered their price objective for the company from $211.84 to $200.75 in a research report on Thursday, January 30th. Rosenblatt Securities reaffirmed a “buy” rating and set a $262.00 price objective on shares of Apple in a research report on Monday, January 27th. Citigroup lifted their price objective on Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Bank of America upped their target price on shares of Apple from $253.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, Loop Capital lowered shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price target for the company. in a research note on Tuesday, January 21st. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $242.52.
Check Out Our Latest Stock Analysis on AAPL
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.
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