Chico Wealth RIA Reduces Position in Apple Inc. (NASDAQ:AAPL)

Chico Wealth RIA cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,611 shares of the iPhone maker’s stock after selling 210 shares during the quarter. Apple comprises approximately 1.2% of Chico Wealth RIA’s portfolio, making the stock its 7th biggest position. Chico Wealth RIA’s holdings in Apple were worth $1,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. AMF Tjanstepension AB boosted its holdings in Apple by 21.1% in the third quarter. AMF Tjanstepension AB now owns 3,380,064 shares of the iPhone maker’s stock worth $787,631,000 after purchasing an additional 588,427 shares during the last quarter. Consilio Wealth Advisors LLC lifted its holdings in shares of Apple by 24.0% during the 3rd quarter. Consilio Wealth Advisors LLC now owns 17,146 shares of the iPhone maker’s stock valued at $3,995,000 after buying an additional 3,324 shares during the period. MKT Advisors LLC boosted its stake in shares of Apple by 1.8% in the 3rd quarter. MKT Advisors LLC now owns 12,872 shares of the iPhone maker’s stock worth $2,919,000 after buying an additional 231 shares during the last quarter. Value Partners Investments Inc. grew its holdings in shares of Apple by 6.8% in the third quarter. Value Partners Investments Inc. now owns 4,294 shares of the iPhone maker’s stock worth $1,001,000 after acquiring an additional 274 shares during the period. Finally, Kwmg LLC increased its position in Apple by 0.8% during the third quarter. Kwmg LLC now owns 24,734 shares of the iPhone maker’s stock valued at $5,763,000 after acquiring an additional 189 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AAPL shares. Rosenblatt Securities restated a “buy” rating and set a $262.00 target price on shares of Apple in a research report on Monday, January 27th. Redburn Partners set a $230.00 price objective on shares of Apple in a research report on Friday, January 31st. Wells Fargo & Company raised their target price on Apple to $275.00 and gave the stock a “buy” rating in a report on Monday, December 9th. The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a research report on Wednesday, February 19th. Finally, Bank of America raised their price objective on Apple from $253.00 to $265.00 and gave the stock a “buy” 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 given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $243.65.

Apple Stock Performance

Apple stock opened at $218.27 on Friday. The stock’s 50 day moving average price is $231.82 and its 200 day moving average price is $233.33. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The firm has a market capitalization of $3.28 trillion, a PE ratio of 34.65, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last announced 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 return on equity of 160.83% and a net margin of 24.30%. As a group, sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders 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 annualized dividend and a 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.