Country Trust Bank trimmed its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 799,497 shares of the iPhone maker's stock after selling 77,075 shares during the quarter. Apple makes up 5.0% of Country Trust Bank's portfolio, making the stock its 4th biggest holding. Country Trust Bank's holdings in Apple were worth $200,210,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp grew its stake in 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 acquiring an additional 55,935,105 shares during the period. FMR LLC grew its position in shares of 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 purchasing an additional 18,224,005 shares during the period. Geode Capital Management LLC increased its stake in Apple by 6.5% in the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock valued at $77,542,863,000 after purchasing an additional 20,483,787 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Apple by 6.6% in the third 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 last quarter. Finally, International Assets Investment Management LLC lifted 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 worth $219,829,700,000 after buying an additional 93,886,664 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
Apple Stock Performance
Shares of NASDAQ:AAPL traded down $5.95 on Friday, reaching $217.90. 39,775,695 shares of the company's stock were exchanged, compared to its average volume of 54,852,651. Apple Inc. has a fifty-two week low of $164.08 and a fifty-two week high of $260.10. The business's 50-day moving average is $230.70 and its two-hundred day moving average is $233.35. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The firm has a market capitalization 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 earnings per share (EPS) for the quarter, topping 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, equities research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.
Apple Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a dividend of $0.25 per share. The ex-dividend date 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 currently 15.87%.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the stock. Redburn Partners set a $230.00 price objective on shares of Apple in a research note on Friday, January 31st. Loop Capital lowered shares of Apple from a "buy" rating to a "hold" rating and set a $230.00 price target for the company. in a research report on Tuesday, January 21st. Wells Fargo & Company increased their price target on shares of Apple to $275.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Jefferies Financial Group reissued an "underperform" rating on shares of Apple in a research note on Wednesday, February 19th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $262.00 target price on shares of Apple in a research report on Monday, January 27th. Four research 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $245.52.
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About Apple
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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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