BTC Capital Management Inc. Sells 2,880 Shares of Apple Inc. (NASDAQ:AAPL)

BTC Capital Management Inc. lessened its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 204,404 shares of the iPhone maker's stock after selling 2,880 shares during the period. Apple accounts for 4.7% of BTC Capital Management Inc.'s portfolio, making the stock its 2nd biggest holding. BTC Capital Management Inc.'s holdings in Apple were worth $51,175,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. High Net Worth Advisory Group LLC grew its holdings in Apple by 1.7% during the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker's stock worth $14,916,000 after acquiring an additional 1,066 shares during the period. Amara Financial LLC. bought a new position in shares of Apple during the 3rd quarter valued at about $288,000. Sterling Investment Counsel LLC grew its stake in shares of Apple by 3.8% in the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker's stock worth $16,269,000 after purchasing an additional 2,565 shares during the last quarter. Silicon Valley Capital Partners raised its holdings in shares of Apple by 12.8% in the 3rd quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker's stock worth $59,122,000 after purchasing an additional 28,799 shares in the last quarter. Finally, Catalyst Financial Partners LLC lifted its stake in Apple by 4.2% during the third quarter. Catalyst Financial Partners LLC now owns 96,589 shares of the iPhone maker's stock valued at $22,505,000 after purchasing an additional 3,935 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

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Apple Stock Down 2.7 %

NASDAQ AAPL traded down $5.95 during trading on Friday, hitting $217.90. 39,775,695 shares of the company traded hands, compared to its average volume of 54,852,651. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $3.27 trillion, a P/E ratio of 34.59, a PEG ratio of 2.44 and a beta of 1.18. The business has a fifty day simple moving average of $230.70 and a 200 day simple moving average of $233.35. Apple Inc. has a 12 month low of $164.08 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. As a group, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

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. This represents a $1.00 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Monday, February 10th. Apple's dividend payout ratio (DPR) is presently 15.87%.

Analyst Upgrades and Downgrades

AAPL has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Apple from $260.00 to $270.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Rosenblatt Securities restated a "buy" rating and issued a $262.00 target price on shares of Apple in a report on Monday, January 27th. Barclays upped their target price on Apple from $183.00 to $197.00 and gave the company an "underweight" rating in a report on Friday, January 31st. Monness Crespi & Hardt lifted their price target on Apple to $245.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Finally, Wedbush reaffirmed an "outperform" rating and set a $325.00 price objective on shares of Apple in a research note on Friday, March 14th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $245.52.

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.