Clarity Financial LLC trimmed its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 141,577 shares of the iPhone maker's stock after selling 4,545 shares during the period. Apple accounts for approximately 4.2% of Clarity Financial LLC's investment portfolio, making the stock its 5th biggest position. Clarity Financial LLC's holdings in Apple were worth $35,454,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC increased its stake 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 valued at $219,829,700,000 after buying an additional 93,886,664 shares during the period. State Street Corp increased its position in shares of 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 during the period. Geode Capital Management LLC raised its stake in Apple by 6.5% during the third 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. FMR LLC lifted its holdings in Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock valued at $84,779,231,000 after buying an additional 18,224,005 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in 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 worth $22,121,656,000 after acquiring an additional 5,893,741 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on AAPL. Bank of America boosted their price objective on Apple from $253.00 to $265.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Citigroup boosted their price target on Apple from $255.00 to $275.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Redburn Partners set a $230.00 target price on Apple in a research note on Friday, January 31st. Maxim Group boosted their price objective on Apple to $215.00 and gave the company a "hold" rating in a report on Friday, February 21st. Finally, Oppenheimer cut Apple from an "outperform" rating to a "market perform" rating in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a sell rating, nine have assigned 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, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $245.52.
Check Out Our Latest Research Report on AAPL
Apple Stock Performance
Shares of NASDAQ:AAPL traded down $5.95 during midday 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 52-week low of $164.08 and a 52-week high of $260.10. The company's 50 day moving average price is $230.70 and its 200 day moving average price is $233.35. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock has a market cap of $3.27 trillion, a P/E ratio of 34.59, a P/E/G ratio of 2.44 and a beta of 1.18.
Apple (NASDAQ:AAPL - Get Free Report) last released 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 anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend was Monday, February 10th. Apple's dividend payout ratio (DPR) is 15.87%.
Apple Company Profile
(
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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