Apple Inc. (NASDAQ:AAPL) Position Reduced by Westside Investment Management Inc.

Westside Investment Management Inc. lessened its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 86,782 shares of the iPhone maker's stock after selling 3,221 shares during the period. Apple comprises about 4.6% of Westside Investment Management Inc.'s investment portfolio, making the stock its largest position. Westside Investment Management Inc.'s holdings in Apple were worth $21,732,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bull Oak Capital LLC lifted its holdings in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock valued at $36,000 after acquiring an additional 111 shares during the last quarter. Hershey Financial Advisers LLC acquired a new position in Apple during the second quarter valued at approximately $42,000. SPX Gestao de Recursos Ltda acquired a new stake in shares of Apple in the third quarter worth $71,000. Christopher J. Hasenberg Inc lifted its position in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker's stock worth $69,000 after purchasing an additional 144 shares during the period. Finally, Teachers Insurance & Annuity Association of America bought a new position in shares of Apple during the third quarter valued at $77,000. Institutional investors own 67.73% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Citigroup lifted their price objective on Apple from $255.00 to $275.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Redburn Partners set a $230.00 price objective on Apple in a report on Friday, January 31st. JPMorgan Chase & Co. upped their price objective on Apple from $260.00 to $270.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Bank of America raised their target price on Apple from $253.00 to $265.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Finally, Raymond James raised their price objective on Apple to $250.00 and gave the company a "buy" rating in a research note on Monday, January 20th. 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 company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $243.22.

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Insider Buying and Selling 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 value of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.06% of the company's stock.

Apple Stock Performance

Shares of AAPL opened at $216.98 on Thursday. The business's fifty day simple moving average is $235.80 and its two-hundred day simple moving average is $234.00. 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. The company has a market cap of $3.26 trillion, a price-to-earnings ratio of 34.44, a P/E/G ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results 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%. Research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.46%. Apple's dividend payout ratio is 15.87%.

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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