Cohen Klingenstein LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 31.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 466,566 shares of the iPhone maker's stock after selling 210,980 shares during the period. Apple accounts for about 4.0% of Cohen Klingenstein LLC's holdings, making the stock its 7th biggest holding. Cohen Klingenstein LLC's holdings in Apple were worth $116,837,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. Bull Oak Capital LLC lifted its position in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock worth $36,000 after purchasing an additional 111 shares during the last quarter. Hershey Financial Advisers LLC bought a new position in shares of Apple during the second quarter worth about $42,000. Christopher J. Hasenberg Inc lifted its position in shares of Apple by 88.9% during 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 last quarter. SPX Gestao de Recursos Ltda bought a new position in shares of Apple during the third quarter worth about $71,000. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in Apple during the third quarter worth about $77,000. 67.73% of the stock is owned by hedge funds and other institutional investors.
Apple Stock Performance
AAPL traded down $0.19 during trading on Wednesday, hitting $235.74. The stock had a trading volume of 47,184,984 shares, compared to its average volume of 53,560,264. The firm has a market cap of $3.54 trillion, a PE ratio of 37.42, a P/E/G ratio of 2.44 and a beta of 1.20. Apple Inc. has a 12 month low of $164.08 and a 12 month high of $260.10. 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 50 day simple moving average of $238.81 and a 200-day simple moving average of $233.92.
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%. Analysts expect 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 given a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.42%. Apple's dividend payout ratio is 15.87%.
Analysts Set New Price Targets
Several research firms recently weighed in on AAPL. Monness Crespi & Hardt increased their price objective on shares of Apple to $245.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. TD Cowen reiterated a "buy" rating on shares of Apple in a research note on Tuesday, January 28th. Moffett Nathanson reiterated a "sell" rating and set a $188.00 price objective (down previously from $202.00) on shares of Apple in a research note on Tuesday, January 7th. DA Davidson set a $290.00 price objective on shares of Apple in a research note on Friday, January 31st. Finally, Needham & Company LLC reiterated a "buy" rating and set a $260.00 price objective on shares of Apple in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Apple currently has an average rating of "Moderate Buy" and an average target price of $243.88.
Get Our Latest Stock Report on Apple
Insiders Place Their Bets
In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the firm's stock in a transaction 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 sale, 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 document filed with the SEC, which is available at the SEC website. Company insiders own 0.06% of the company's stock.
About Apple
(
Free Report)
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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