Apple Inc. (NASDAQ:AAPL) is Hartford Financial Management Inc.'s 3rd Largest Position

Hartford Financial Management Inc. boosted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 61,492 shares of the iPhone maker's stock after buying an additional 1,482 shares during the period. Apple accounts for 3.2% of Hartford Financial Management Inc.'s investment portfolio, making the stock its 3rd largest position. Hartford Financial Management Inc.'s holdings in Apple were worth $15,399,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of AAPL. Drystone LLC purchased a new position in shares of Apple during the 4th quarter worth approximately $25,000. Bull Oak Capital LLC grew its stake in Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock worth $36,000 after purchasing an additional 111 shares in the last quarter. Christopher J. Hasenberg Inc grew its position in shares of 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 buying an additional 144 shares in the last quarter. SPX Gestao de Recursos Ltda purchased a new stake in shares of Apple in the 3rd quarter valued at approximately $71,000. Finally, Teachers Insurance & Annuity Association of America purchased a new position in Apple in the third quarter valued at $77,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AAPL shares. Oppenheimer cut shares of Apple from an "outperform" rating to a "market perform" rating in a report on Wednesday, January 29th. Raymond James increased their price objective on Apple to $250.00 and gave the stock a "buy" rating in a research report on Monday, January 20th. Monness Crespi & Hardt lifted their target price on shares of Apple to $245.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Barclays upped their price objective on Apple from $183.00 to $197.00 and gave the stock an "underweight" rating in a report on Friday, January 31st. Finally, Sanford C. Bernstein upped their target price on shares of Apple from $240.00 to $260.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Four analysts have rated the stock with a sell rating, nine 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 data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $245.52.

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Apple Stock Down 2.7 %

NASDAQ:AAPL traded down $5.95 during mid-day trading on Friday, hitting $217.90. The company had a trading volume of 39,775,695 shares, compared to its average volume of 54,852,651. 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. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10. The business has a fifty day simple moving average of $230.70 and a 200-day simple moving average of $233.35.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly 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 return on equity of 160.83% and a net margin of 24.30%. Equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 0.46%. The ex-dividend date was Monday, February 10th. Apple's payout ratio is currently 15.87%.

Apple 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.