Koa Wealth Management LLC cut its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,995 shares of the iPhone maker's stock after selling 4,026 shares during the period. Apple comprises about 13.7% of Koa Wealth Management LLC's portfolio, making the stock its 2nd largest position. Koa Wealth Management LLC's holdings in Apple were worth $16,777,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Drystone LLC acquired a new position in Apple during the fourth quarter worth $25,000. Bull Oak Capital LLC increased its position in shares of Apple by 252.3% in the third 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. Christopher J. Hasenberg Inc boosted its position in Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker's stock valued at $69,000 after purchasing an additional 144 shares during the last quarter. SPX Gestao de Recursos Ltda bought a new position in Apple in the third quarter valued at approximately $71,000. Finally, Teachers Insurance & Annuity Association of America acquired a new position in shares of Apple during the 3rd quarter worth approximately $77,000. 67.73% of the stock is owned by institutional investors.
Apple Price Performance
Shares of Apple stock traded down $5.95 during midday 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 firm's fifty day moving average price is $230.70 and its 200-day moving average price is $233.35. The stock has a market cap of $3.27 trillion, a price-to-earnings ratio of 34.59, a PEG ratio of 2.44 and a beta of 1.18. Apple Inc. has a 12 month low of $164.08 and a 12 month high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92.
Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating analysts' consensus estimates 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 forecast that Apple Inc. will post 7.28 earnings per share for the current year.
Apple Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. 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 0.46%. Apple's dividend payout ratio is currently 15.87%.
Wall Street Analyst Weigh In
Several research firms have recently commented on AAPL. Wedbush reissued an "outperform" rating and issued a $325.00 price objective on shares of Apple in a report on Friday, March 14th. Wells Fargo & Company increased their price target on shares of Apple to $275.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Citigroup boosted their price objective on shares of Apple from $255.00 to $275.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Oppenheimer downgraded shares of Apple from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 29th. Finally, Bank of America boosted their target price on Apple from $253.00 to $265.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and a consensus price target of $245.52.
View Our Latest Research Report on AAPL
About Apple
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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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