Apple Inc. (NASDAQ:AAPL) Stock Position Cut by Strategic Wealth Investment Group LLC

Strategic Wealth Investment Group LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 179,030 shares of the iPhone maker’s stock after selling 2,817 shares during the period. Apple accounts for 3.0% of Strategic Wealth Investment Group LLC’s portfolio, making the stock its 4th biggest position. Strategic Wealth Investment Group LLC’s holdings in Apple were worth $44,833,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC lifted its position in shares of Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after purchasing an additional 93,886,664 shares during the last quarter. State Street Corp raised its stake in Apple by 10.6% during the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock valued at $136,074,372,000 after buying an additional 55,935,105 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Apple by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock worth $77,542,863,000 after buying an additional 20,483,787 shares during the last quarter. FMR LLC grew its position in shares of Apple by 5.3% in the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after acquiring an additional 18,224,005 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Apple by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock valued at $22,121,656,000 after acquiring an additional 5,893,741 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Down 1.0 %

AAPL opened at $221.53 on Thursday. 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 company has a market capitalization of $3.33 trillion, a PE ratio of 35.16, a P/E/G ratio of 2.44 and a beta of 1.18. The stock’s fifty day moving average is $231.03 and its 200-day moving average is $233.35. Apple Inc. has a one year low of $164.08 and a one year high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly 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, equities analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AAPL. DA Davidson set a $290.00 price objective on Apple in a research note on Friday, January 31st. Rosenblatt Securities restated a “buy” rating and issued a $262.00 price target on shares of Apple in a research report on Monday, January 27th. Moffett Nathanson reaffirmed a “sell” rating and issued a $188.00 price target (down from $202.00) on shares of Apple in a report on Tuesday, January 7th. Evercore ISI increased their price objective on shares of Apple from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 18th. Finally, UBS Group lifted their target price on Apple to $236.00 and gave the company a “hold” rating in a research note on Tuesday, February 25th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $243.65.

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.