Zimmermann Investment Management & Planning LLC Has $242,000 Stock Position in Apple Inc. (NASDAQ:AAPL)

Zimmermann Investment Management & Planning LLC cut its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 98.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 964 shares of the iPhone maker's stock after selling 53,691 shares during the period. Apple makes up approximately 10.7% of Zimmermann Investment Management & Planning LLC's portfolio, making the stock its 7th biggest position. Zimmermann Investment Management & Planning LLC's holdings in Apple were worth $242,000 at the end of the most recent quarter.

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

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Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AAPL. Morgan Stanley reduced their price objective on Apple from $275.00 to $252.00 and set an "overweight" rating for the company in a report on Wednesday, March 12th. Jefferies Financial Group reaffirmed an "underperform" rating on shares of Apple in a research note on Wednesday, February 19th. Citigroup upped their target price on Apple from $255.00 to $275.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Raymond James raised their price objective on shares of Apple to $250.00 and gave the company a "buy" rating in a research report on Monday, January 20th. Finally, Needham & Company LLC reissued a "buy" rating and set a $260.00 price objective on shares of Apple 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 issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Apple currently has a consensus rating of "Moderate Buy" and an average price target of $245.52.

Apple Stock Down 2.7 %

Shares of NASDAQ AAPL traded down $5.95 during mid-day trading on Friday, hitting $217.90. 39,775,695 shares of the stock traded hands, compared to its average volume of 54,852,651. The company 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. The stock has a fifty day moving average price of $230.70 and a 200-day moving average price of $233.35. Apple Inc. has a 52 week low of $164.08 and a 52 week 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 announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS 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%. Research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

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

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.