CFM Wealth Partners LLC Sells 5,370 Shares of Apple Inc. (NASDAQ:AAPL)

CFM Wealth Partners LLC lessened its position in Apple Inc. (NASDAQ:AAPL) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 294,521 shares of the iPhone maker’s stock after selling 5,370 shares during the period. Apple comprises about 12.4% of CFM Wealth Partners LLC’s portfolio, making the stock its 2nd biggest holding. CFM Wealth Partners LLC’s holdings in Apple were worth $73,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of AAPL. AMF Tjanstepension AB boosted its stake in Apple by 21.1% in the 3rd quarter. AMF Tjanstepension AB now owns 3,380,064 shares of the iPhone maker’s stock valued at $787,631,000 after purchasing an additional 588,427 shares during the period. Ritholtz Wealth Management lifted its holdings in shares of Apple by 3.6% during the third quarter. Ritholtz Wealth Management now owns 491,209 shares of the iPhone maker’s stock worth $114,452,000 after buying an additional 17,284 shares in the last quarter. Burns Matteson Capital Management LLC boosted its position in shares of Apple by 6.2% in the third quarter. Burns Matteson Capital Management LLC now owns 8,988 shares of the iPhone maker’s stock valued at $2,094,000 after acquiring an additional 528 shares during the period. Avondale Wealth Management grew its stake in shares of Apple by 3.2% in the third quarter. Avondale Wealth Management now owns 14,578 shares of the iPhone maker’s stock valued at $3,397,000 after acquiring an additional 450 shares in the last quarter. Finally, HCR Wealth Advisors increased its position in Apple by 0.5% during the third quarter. HCR Wealth Advisors now owns 530,528 shares of the iPhone maker’s stock worth $123,613,000 after acquiring an additional 2,816 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Morgan Stanley decreased their target price on shares of Apple from $275.00 to $252.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. Oppenheimer downgraded Apple from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. Raymond James raised their price objective on Apple to $250.00 and gave the stock a “buy” rating in a research note on Monday, January 20th. Wedbush reiterated an “outperform” rating and set a $325.00 target price on shares of Apple in a research report on Friday, March 14th. Finally, Barclays raised their price target on Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $245.52.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $222.13 on Tuesday. 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 Inc. has a 52 week low of $164.08 and a 52 week high of $260.10. The firm has a market cap of $3.34 trillion, a PE ratio of 35.26, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. The firm’s fifty day moving average is $230.54 and its 200-day moving average is $233.42.

Apple (NASDAQ:AAPL) last announced its 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 return on equity of 160.83% and a net margin of 24.30%. Sell-side analysts predict 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 $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 dividend payout ratio is currently 15.87%.

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.