Apple Inc. (NASDAQ:AAPL) Stake Lowered by Cedar Mountain Advisors LLC

Cedar Mountain Advisors LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,992 shares of the iPhone maker’s stock after selling 280 shares during the period. Apple comprises approximately 0.5% of Cedar Mountain Advisors LLC’s portfolio, making the stock its 25th biggest holding. Cedar Mountain Advisors LLC’s holdings in Apple were worth $2,252,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Bull Oak Capital LLC raised its holdings in Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after buying an additional 111 shares in the last quarter. SPX Gestao de Recursos Ltda acquired a new position in Apple during the third quarter valued at approximately $71,000. Christopher J. Hasenberg Inc raised its position in shares of Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the period. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Apple in the third quarter worth $77,000. Finally, ARK Investment Management LLC acquired a new position in Apple in the 3rd quarter valued at $110,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $214.00 on Tuesday. The company has a market capitalization of $3.21 trillion, a P/E ratio of 33.97, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. Apple Inc. has a 52 week low of $164.08 and a 52 week high of $260.10. The company’s 50 day moving average price is $233.90 and its two-hundred day moving average price is $233.71. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92.

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

Apple Announces Dividend

The business also recently announced 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 0.47%. Apple’s payout ratio is presently 15.87%.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research analyst reports. Argus raised shares of Apple to a “strong-buy” rating in a research report on Friday, January 31st. Citigroup increased their target price on Apple from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Evercore ISI boosted their price objective on shares of Apple to $260.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. upped their price objective on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average price target of $243.22.

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.