Sonora Investment Management Group LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 273,268 shares of the iPhone maker's stock after selling 1,678 shares during the quarter. Apple comprises 5.2% of Sonora Investment Management Group LLC's portfolio, making the stock its largest holding. Sonora Investment Management Group LLC's holdings in Apple were worth $68,432,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of AAPL. Drystone LLC acquired a new stake in Apple in the 4th quarter valued at approximately $25,000. Bull Oak Capital LLC boosted 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 period. SPX Gestao de Recursos Ltda acquired a new stake in shares of Apple in the third quarter worth $71,000. Christopher J. Hasenberg Inc increased 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 worth $69,000 after acquiring an additional 144 shares during the period. Finally, Teachers Insurance & Annuity Association of America acquired a new position in Apple during the 3rd quarter valued at $77,000. Institutional investors own 67.73% of the company's stock.
Analysts Set New Price Targets
AAPL has been the topic of a number of recent research reports. Loop Capital downgraded Apple from a "buy" rating to a "hold" rating and set a $230.00 target price on the stock. in a research report on Tuesday, January 21st. Jefferies Financial Group reissued an "underperform" rating on shares of Apple in a report on Wednesday, February 19th. Morgan Stanley cut their target price on Apple from $275.00 to $252.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. 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 note on Friday, January 31st. Finally, UBS Group increased their price objective on shares of Apple to $236.00 and gave the company a "hold" rating in a research note on Tuesday, February 25th. Four equities research 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $245.52.
Get Our Latest Stock Analysis on AAPL
Apple Price Performance
Shares of NASDAQ AAPL traded down $5.95 during mid-day trading on Friday, reaching $217.90. The company had a trading volume of 39,775,695 shares, compared to its average volume of 54,852,651. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The business's 50-day simple moving average is $230.70 and its 200 day simple moving average is $233.35. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The firm 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 (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 net margin of 24.30% and a return on equity of 160.83%. On average, research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a $0.25 dividend. 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 payout ratio is presently 15.87%.
Apple Company Profile
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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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