Udine Wealth Management Inc. Cuts Holdings in Apple Inc. (NASDAQ:AAPL)

Udine Wealth Management Inc. cut its holdings in Apple Inc. (NASDAQ:AAPL) by 18.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,337 shares of the iPhone maker’s stock after selling 14,601 shares during the quarter. Apple comprises about 10.5% of Udine Wealth Management Inc.’s investment portfolio, making the stock its 2nd biggest holding. Udine Wealth Management Inc.’s holdings in Apple were worth $16,362,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. O Connor Financial Group LLC grew its holdings in shares of Apple by 1.2% during the 4th quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock worth $896,000 after purchasing an additional 41 shares in the last quarter. 1620 Investment Advisors Inc. boosted its stake in shares of Apple by 0.5% during the third quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock valued at $2,249,000 after purchasing an additional 45 shares in the last quarter. Carolina Wealth Advisors LLC boosted its stake in shares of Apple by 1.3% during the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after purchasing an additional 46 shares in the last quarter. Menard Financial Group LLC boosted its stake in shares of Apple by 0.4% during the third quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker’s stock valued at $2,848,000 after purchasing an additional 48 shares in the last quarter. Finally, Hanseatic Management Services Inc. raised its position in shares of Apple by 1.3% during the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker’s stock worth $945,000 after acquiring an additional 48 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity

In related news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

Apple Trading Down 0.1 %

AAPL opened at $235.74 on Thursday. The stock has a market cap of $3.54 trillion, a PE ratio of 37.42, a PEG ratio of 2.44 and a beta of 1.20. 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 business has a 50 day moving average of $238.36 and a 200-day moving average of $233.93. Apple Inc. has a 52 week low of $164.08 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared 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 0.42%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio is presently 15.87%.

Analysts Set New Price Targets

AAPL has been the subject of a number of research analyst reports. Bank of America lifted their target price on Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, January 31st. JPMorgan Chase & Co. boosted their price objective on Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. UBS Group boosted their price objective on Apple to $236.00 and gave the stock a “hold” rating in a research report on Tuesday, February 25th. TD Cowen reissued a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Finally, DA Davidson set a $290.00 price objective on Apple in a research report on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $243.88.

Apple Company 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.