Apple Inc. (NASDAQ:AAPL) Stock Holdings Reduced by Cherry Creek Investment Advisors Inc.

Cherry Creek Investment Advisors Inc. lowered its position in Apple Inc. (NASDAQ:AAPL) by 3.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 51,907 shares of the iPhone maker’s stock after selling 1,807 shares during the quarter. Apple makes up approximately 6.4% of Cherry Creek Investment Advisors Inc.’s holdings, making the stock its 3rd largest holding. Cherry Creek Investment Advisors Inc.’s holdings in Apple were worth $12,999,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Lebenthal Global Advisors LLC boosted its stake in shares of Apple by 2.7% during the 4th quarter. Lebenthal Global Advisors LLC now owns 50,810 shares of the iPhone maker’s stock worth $12,724,000 after acquiring an additional 1,321 shares in the last quarter. Baldwin Wealth Partners LLC MA boosted its stake in shares of Apple by 1.7% during the 4th quarter. Baldwin Wealth Partners LLC MA now owns 404,041 shares of the iPhone maker’s stock worth $101,180,000 after acquiring an additional 6,682 shares in the last quarter. Foundations Investment Advisors LLC boosted its stake in shares of Apple by 6.3% during the 4th quarter. Foundations Investment Advisors LLC now owns 363,124 shares of the iPhone maker’s stock worth $90,934,000 after acquiring an additional 21,507 shares in the last quarter. Main Line Retirement Advisors LLC boosted its stake in shares of Apple by 1.7% during the 4th quarter. Main Line Retirement Advisors LLC now owns 3,293 shares of the iPhone maker’s stock worth $825,000 after acquiring an additional 56 shares in the last quarter. Finally, Parsons Capital Management Inc. RI boosted its stake in shares of Apple by 19.1% during the 4th quarter. Parsons Capital Management Inc. RI now owns 749,682 shares of the iPhone maker’s stock worth $187,735,000 after acquiring an additional 120,033 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Monness Crespi & Hardt increased their target price on Apple to $245.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Argus upgraded Apple to a “strong-buy” rating in a research note on Friday, January 31st. The Goldman Sachs Group restated a “buy” rating on shares of Apple in a research note on Wednesday, February 19th. Bank of America increased their target price on Apple from $253.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, 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. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.65.

Apple Stock Up 1.9 %

NASDAQ AAPL opened at $218.27 on Friday. 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 company has a fifty day moving average of $231.82 and a two-hundred day moving average of $233.26. The firm has a market capitalization of $3.28 trillion, a price-to-earnings ratio of 34.65, a PEG 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.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating 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, analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. Apple’s payout ratio is 15.87%.

About Apple

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.