Apple Inc. (NASDAQ:AAPL) Position Decreased by Bourne Lent Asset Management Inc.

Bourne Lent Asset Management Inc. lowered its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 133,258 shares of the iPhone maker's stock after selling 3,186 shares during the period. Apple comprises 12.7% of Bourne Lent Asset Management Inc.'s portfolio, making the stock its largest holding. Bourne Lent Asset Management Inc.'s holdings in Apple were worth $33,370,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in AAPL. Barlow Wealth Partners Inc. raised its position in shares of Apple by 0.4% in the fourth quarter. Barlow Wealth Partners Inc. now owns 119,414 shares of the iPhone maker's stock valued at $28,405,000 after buying an additional 526 shares during the last quarter. XML Financial LLC increased its position in shares of Apple by 1.0% in the fourth quarter. XML Financial LLC now owns 131,191 shares of the iPhone maker's stock worth $32,853,000 after acquiring an additional 1,351 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Apple by 0.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,355,447 shares of the iPhone maker's stock worth $1,090,691,000 after acquiring an additional 19,883 shares in the last quarter. Traphagen Investment Advisors LLC grew its holdings in Apple by 0.5% during the 4th quarter. Traphagen Investment Advisors LLC now owns 99,102 shares of the iPhone maker's stock valued at $24,817,000 after purchasing an additional 516 shares in the last quarter. Finally, Genesis Private Wealth LLC acquired a new stake in Apple during the 4th quarter valued at $1,363,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Activity at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares of the company's stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.06% of the stock is currently owned by insiders.

Apple Stock Down 2.9 %

Shares of NASDAQ AAPL opened at $220.84 on Wednesday. The company has a market cap of $3.32 trillion, a price-to-earnings ratio of 35.05, a PEG ratio of 2.44 and a beta of 1.18. The stock has a 50-day moving average price of $236.47 and a two-hundred day moving average price of $234.12. 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 Inc. has a 12 month low of $164.08 and a 12 month high of $260.10.

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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 (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%. As a group, analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently announced 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 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 currently 15.87%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AAPL shares. JPMorgan Chase & Co. raised their price objective on shares of Apple from $260.00 to $270.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. DA Davidson set a $290.00 price target on shares of Apple in a report 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 on the stock. in a research note on Tuesday, January 21st. Argus upgraded shares of Apple to a "strong-buy" rating in a research note on Friday, January 31st. Finally, Maxim Group increased their price target on shares of Apple to $215.00 and gave the stock a "hold" rating in a research note on Friday, February 21st. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $243.88.

Apple Company 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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