Bridge Creek Capital Management LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 59,537 shares of the iPhone maker's stock after selling 1,793 shares during the quarter. Apple makes up approximately 4.6% of Bridge Creek Capital Management LLC's portfolio, making the stock its biggest position. Bridge Creek Capital Management LLC's holdings in Apple were worth $14,909,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bull Oak Capital LLC boosted its holdings in 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 purchasing an additional 111 shares in the last quarter. Hershey Financial Advisers LLC acquired a new position in Apple in the second quarter valued at approximately $42,000. Christopher J. Hasenberg Inc boosted its holdings in Apple by 88.9% in 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 in the last quarter. SPX Gestao de Recursos Ltda acquired 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 Apple in the third quarter valued at approximately $77,000. 67.73% of the stock is owned by institutional investors and hedge funds.
Apple Price Performance
Apple stock traded down $0.28 during trading hours on Friday, hitting $245.55. The stock had a trading volume of 53,102,300 shares, compared to its average volume of 49,742,392. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The stock has a market capitalization of $3.69 trillion, a price-to-earnings ratio of 38.98, a PEG ratio of 2.44 and a beta of 1.20. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The stock's fifty day moving average is $240.47 and its two-hundred day moving average is $232.55.
Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. As a group, 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. This represents a $1.00 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Monday, February 10th. Apple's dividend payout ratio (DPR) is 15.87%.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on AAPL. KeyCorp reaffirmed an "underweight" rating and issued a $200.00 price target on shares of Apple in a report on Friday, January 31st. StockNews.com downgraded Apple from a "buy" rating to a "hold" rating in a report on Friday, November 1st. Maxim Group upped their price target on Apple to $215.00 and gave the company a "hold" rating in a report on Friday. Needham & Company LLC reaffirmed a "buy" rating and issued a $260.00 price target on shares of Apple in a report on Friday, January 31st. Finally, Morgan Stanley set a $275.00 price objective on Apple in a research note on Tuesday, February 11th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Apple has an average rating of "Moderate Buy" and an average target price of $244.85.
Read Our Latest Analysis on Apple
Insider Buying and Selling at Apple
In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the company's stock in a transaction on Monday, December 16th. The stock was 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 owns 389,944 shares of the company's stock, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is owned by corporate insiders.
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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