Apple Inc. (NASDAQ:AAPL) Shares Sold by Merrion Investment Management Co LLC

Merrion Investment Management Co LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 5.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 47,976 shares of the iPhone maker’s stock after selling 2,805 shares during the period. Apple makes up about 8.4% of Merrion Investment Management Co LLC’s holdings, making the stock its 3rd largest holding. Merrion Investment Management Co LLC’s holdings in Apple were worth $12,014,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AAPL. O Connor Financial Group LLC grew its stake in shares of Apple by 1.2% in the 4th quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock valued at $896,000 after buying an additional 41 shares during the period. 1620 Investment Advisors Inc. increased its stake in Apple by 0.5% during the 3rd 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 lifted its position in Apple by 1.3% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after acquiring an additional 46 shares in the last quarter. Menard Financial Group LLC boosted its stake in Apple by 0.4% during the 3rd 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 during the last quarter. Finally, Hanseatic Management Services Inc. increased its holdings in Apple by 1.3% during the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker’s stock worth $945,000 after purchasing an additional 48 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Up 1.4 %

Shares of Apple stock opened at $223.75 on Wednesday. The company has a 50-day simple moving average of $231.35 and a two-hundred day simple moving average of $233.43. The stock has a market capitalization of $3.36 trillion, a PE ratio of 35.52, 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 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 quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping 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 anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s payout ratio is currently 15.87%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Apple in a research note on Friday, January 31st. Argus upgraded shares of Apple to a “strong-buy” rating in a research note on Friday, January 31st. Oppenheimer downgraded shares of Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Monness Crespi & Hardt boosted their price target on shares of Apple to $245.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, Moffett Nathanson reiterated a “sell” rating and issued a $188.00 price objective (down from $202.00) on shares of Apple in a report on Tuesday, January 7th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $243.65.

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.