Lewis Asset Management LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 27.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,459 shares of the iPhone maker's stock after selling 16,458 shares during the quarter. Apple comprises approximately 8.3% of Lewis Asset Management LLC's portfolio, making the stock its 2nd biggest holding. Lewis Asset Management LLC's holdings in Apple were worth $10,883,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in AAPL. 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 buying an additional 55,935,105 shares in the last quarter. FMR LLC grew its position in Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock worth $84,779,231,000 after acquiring an additional 18,224,005 shares in the last quarter. Geode Capital Management LLC grew its position 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 worth $77,542,863,000 after acquiring an additional 20,483,787 shares in 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 acquiring an additional 5,893,741 shares during the last quarter. Finally, International Assets Investment Management LLC raised 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 valued at $219,829,700,000 after purchasing an additional 93,886,664 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on AAPL. Barclays increased their price objective on Apple from $183.00 to $197.00 and gave the company an "underweight" rating in a research report on Friday, January 31st. Wells Fargo & Company increased their price target on shares of Apple to $275.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Jefferies Financial Group restated an "underperform" rating on shares of Apple in a report on Wednesday, February 19th. Redburn Partners set a $230.00 target price on shares of Apple in a report on Friday, January 31st. Finally, Morgan Stanley decreased their target price on shares of Apple from $275.00 to $252.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 12th. Four 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 assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $245.52.
Read Our Latest Research Report on AAPL
Apple Stock Down 2.7 %
Shares of NASDAQ:AAPL traded down $5.95 during midday trading on Friday, reaching $217.90. The company's stock had a trading volume of 39,775,695 shares, compared to its average volume of 54,852,651. Apple Inc. has a 12-month low of $164.08 and a 12-month high of $260.10. The firm has a market capitalization of $3.27 trillion, a P/E ratio of 34.59, a PEG ratio of 2.44 and a beta of 1.18. The firm has a 50 day moving average of $230.70 and a 200-day moving average of $233.43. 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 (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share 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%. On average, research analysts anticipate that Apple Inc. will post 7.28 earnings per share 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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Monday, February 10th. Apple's dividend payout ratio (DPR) is presently 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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