Apple Inc. (NASDAQ:AAPL) Stock Position Lowered by Fortitude Advisory Group L.L.C.

Fortitude Advisory Group L.L.C. lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 7.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 29,767 shares of the iPhone maker’s stock after selling 2,350 shares during the period. Apple makes up approximately 4.5% of Fortitude Advisory Group L.L.C.’s holdings, making the stock its 3rd largest holding. Fortitude Advisory Group L.L.C.’s holdings in Apple were worth $7,454,000 as of its most recent filing with the Securities and Exchange Commission.

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

Apple Stock Up 1.9 %

AAPL opened at $218.27 on Friday. The stock has a market capitalization of $3.28 trillion, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. Apple Inc. has a 12 month low of $164.08 and a 12 month high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The business has a 50-day moving average of $231.82 and a two-hundred day moving average of $233.26.

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

Apple Announces Dividend

The company also recently disclosed 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 of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. Apple’s dividend payout ratio is currently 15.87%.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of research analyst reports. Barclays increased their price target on shares of Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Monness Crespi & Hardt increased their price target on shares of Apple to $245.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Redburn Partners set a $230.00 price target on shares of Apple in a report on Friday, January 31st. Oppenheimer lowered shares of Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Finally, TD Cowen reissued a “buy” rating on shares of Apple in a report on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $243.65.

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.