Ridgepath Capital Management LLC Sells 1,151 Shares of Apple Inc. (NASDAQ:AAPL)

Ridgepath Capital Management LLC lowered its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 19.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,877 shares of the iPhone maker's stock after selling 1,151 shares during the quarter. Apple makes up 0.6% of Ridgepath Capital Management LLC's investment portfolio, making the stock its 21st largest position. Ridgepath Capital Management LLC's holdings in Apple were worth $1,221,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its holdings in shares of Apple by 20,372.7% in the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker's stock worth $219,829,700,000 after purchasing an additional 93,886,664 shares during the period. State Street Corp grew its position in Apple by 10.6% during the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock worth $136,074,372,000 after buying an additional 55,935,105 shares in the last quarter. Geode Capital Management LLC increased its stake in Apple by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock worth $77,542,863,000 after acquiring an additional 20,483,787 shares during the last quarter. FMR LLC raised its holdings in shares of Apple by 5.3% in the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock valued at $84,779,231,000 after acquiring an additional 18,224,005 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Apple by 6.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker's stock valued at $22,121,656,000 after acquiring an additional 5,893,741 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

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Apple Trading Down 2.7 %

AAPL stock traded down $5.95 on Friday, reaching $217.90. The company's stock had a trading volume of 39,775,695 shares, compared to its average volume of 54,852,651. The firm has a market cap of $3.27 trillion, a PE 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 two-hundred 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. 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 posted 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, research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AAPL shares. Moffett Nathanson restated a "sell" rating and issued a $188.00 price objective (down from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Monness Crespi & Hardt raised their price objective on shares of Apple to $245.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group reiterated a "buy" rating on shares of Apple in a research report on Wednesday, February 19th. Bank of America increased their target price on Apple from $253.00 to $265.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Finally, Wells Fargo & Company upped their price objective on Apple to $275.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Four analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $245.52.

Apple 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.