Swmg LLC Lowers Position in Apple Inc. (NASDAQ:AAPL)

Swmg LLC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.3% during the 4th quarter, HoldingsChannel reports. The fund owned 7,111 shares of the iPhone maker’s stock after selling 169 shares during the period. Apple accounts for approximately 0.7% of Swmg LLC’s portfolio, making the stock its 26th biggest holding. Swmg LLC’s holdings in Apple were worth $1,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AMF Tjanstepension AB raised its position in shares of Apple by 21.1% in the 3rd 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. TL Private Wealth increased its stake in Apple by 3.9% during the 3rd quarter. TL Private Wealth now owns 3,583 shares of the iPhone maker’s stock valued at $794,000 after purchasing an additional 133 shares in the last quarter. Kelly Financial Services LLC raised its holdings in Apple by 2.3% in the third quarter. Kelly Financial Services LLC now owns 17,147 shares of the iPhone maker’s stock worth $3,995,000 after buying an additional 382 shares during the last quarter. Morton Capital Management LLC CA lifted its stake in shares of Apple by 4.3% in the third quarter. Morton Capital Management LLC CA now owns 66,499 shares of the iPhone maker’s stock worth $15,494,000 after buying an additional 2,719 shares in the last quarter. Finally, Cypress Wealth Services LLC lifted its stake in shares of Apple by 0.6% in the third quarter. Cypress Wealth Services LLC now owns 133,518 shares of the iPhone maker’s stock worth $31,110,000 after buying an additional 817 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $223.85 on Friday. 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 cap of $3.36 trillion, a price-to-earnings ratio of 35.53, a P/E/G ratio of 2.44 and a beta of 1.18. The firm has a fifty day moving average price of $230.94 and a 200 day moving average price of $233.28. Apple Inc. has a fifty-two week low of $164.08 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping 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 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Monday, February 10th. Apple’s payout ratio is 15.87%.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of recent analyst reports. Citigroup boosted their price objective on shares of Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, January 31st. TD Cowen reaffirmed a “buy” rating on shares of Apple in a report on Tuesday, January 28th. Wells Fargo & Company increased their price objective on Apple to $275.00 and gave the company a “buy” rating in a research report on Monday, December 9th. DA Davidson set a $290.00 target price on Apple in a research report on Friday, January 31st. Finally, Sanford C. Bernstein raised their price target on shares of Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Four equities 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus 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.