Apple Inc. (NASDAQ:AAPL) Stake Lowered by Advanced Asset Management Advisors Inc

Advanced Asset Management Advisors Inc decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,000 shares of the iPhone maker’s stock after selling 438 shares during the quarter. Apple makes up approximately 3.3% of Advanced Asset Management Advisors Inc’s portfolio, making the stock its 5th biggest position. Advanced Asset Management Advisors Inc’s holdings in Apple were worth $12,771,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Drystone LLC purchased a new stake in shares of Apple in the 4th quarter valued at about $25,000. Bull Oak Capital LLC increased its position in Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares during the period. Life Planning Partners Inc purchased a new stake in Apple in the fourth quarter valued at approximately $47,000. SPX Gestao de Recursos Ltda acquired a new stake in shares of Apple in the third quarter valued at approximately $71,000. Finally, Teachers Insurance & Annuity Association of America purchased a new position in shares of Apple during the third quarter worth approximately $77,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Trading Up 3.4 %

NASDAQ:AAPL opened at $199.74 on Wednesday. The company has a market capitalization of $3.00 trillion, a PE ratio of 31.70, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. Apple Inc. has a 52-week low of $164.92 and a 52-week high of $260.10. The stock has a fifty day simple moving average of $217.94 and a 200-day simple moving average of $229.69. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

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, 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, equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Monday, February 10th. Apple’s payout ratio is currently 15.87%.

Analyst Ratings Changes

Several analysts recently commented on AAPL shares. Rosenblatt Securities reiterated a “buy” rating and issued a $263.00 price target on shares of Apple in a research report on Thursday, April 3rd. TD Cowen reaffirmed a “buy” rating on shares of Apple in a report on Tuesday, January 28th. Bank of America lowered their price target on Apple from $265.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. DA Davidson reduced their price objective on Apple from $290.00 to $230.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Citigroup decreased their price objective on Apple from $275.00 to $245.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $236.00.

Insider Buying and Selling at Apple

In other news, COO Jeffrey E. Williams sold 35,493 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the sale, the chief operating officer now directly owns 390,059 shares in the company, valued at $87,377,116.59. This represents a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the sale, the senior vice president now owns 179,158 shares of the company’s stock, valued at approximately $40,072,269.86. This represents a 17.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 182,451 shares of company stock worth $40,818,720. 0.06% of the stock is owned by insiders.

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.