Apple Inc. (NASDAQ:AAPL) Stock Position Lessened by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. lessened its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 126,770 shares of the iPhone maker's stock after selling 1,135 shares during the quarter. Apple makes up 4.0% of Institute for Wealth Management LLC.'s holdings, making the stock its 2nd biggest position. Institute for Wealth Management LLC.'s holdings in Apple were worth $31,746,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AAPL. Drystone LLC acquired a new position in Apple during the fourth quarter worth $25,000. Bull Oak Capital LLC increased its stake in shares of Apple by 252.3% during the third 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 increased its stake 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 purchasing an additional 144 shares in the last quarter. SPX Gestao de Recursos Ltda acquired a new position in shares of Apple during the 3rd quarter worth about $71,000. Finally, Teachers Insurance & Annuity Association of America purchased a new position in Apple in the 3rd quarter valued at about $77,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on AAPL. Raymond James boosted their price target on Apple to $250.00 and gave the stock a "buy" rating in a research report on Monday, January 20th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Apple in a research report on Wednesday, February 19th. UBS Group raised their price objective on Apple to $236.00 and gave the stock a "hold" rating in a research report on Tuesday, February 25th. Bank of America increased their price objective on shares of Apple from $253.00 to $265.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Finally, Evercore ISI increased their target price on Apple from $260.00 to $275.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 18th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Apple has a consensus rating of "Moderate Buy" and a consensus target price of $245.52.

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Apple Stock Performance

NASDAQ:AAPL traded down $5.95 during mid-day trading on Friday, reaching $217.90. 39,775,695 shares of the stock were exchanged, compared to its average volume of 54,852,651. The company has a quick ratio of 0.88, a current ratio of 0.92 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 company has a 50 day simple moving average of $230.70 and a 200-day simple moving average of $233.35. The stock has a market capitalization 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 announced 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%. Analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.46%. Apple's dividend 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.