Apple Inc. (NASDAQ:AAPL) Shares Sold by Echo Wealth Management LLC

Echo Wealth Management LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 31,952 shares of the iPhone maker’s stock after selling 201 shares during the quarter. Apple comprises approximately 5.5% of Echo Wealth Management LLC’s investment portfolio, making the stock its 9th biggest position. Echo Wealth Management LLC’s holdings in Apple were worth $8,001,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. High Net Worth Advisory Group LLC increased its position in Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after purchasing an additional 1,066 shares in the last quarter. Amara Financial LLC. bought a new stake in Apple during the 3rd quarter worth approximately $288,000. Sterling Investment Counsel LLC grew its holdings in Apple by 3.8% during the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after acquiring an additional 2,565 shares during the last quarter. Silicon Valley Capital Partners grew its holdings in Apple by 12.8% during the 3rd quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock worth $59,122,000 after acquiring an additional 28,799 shares during the last quarter. Finally, Catalyst Financial Partners LLC grew its holdings in Apple by 4.2% during the 3rd quarter. Catalyst Financial Partners LLC now owns 96,589 shares of the iPhone maker’s stock worth $22,505,000 after acquiring an additional 3,935 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Performance

AAPL opened at $212.69 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company’s fifty day moving average price is $233.31 and its two-hundred day moving average price is $233.60. Apple Inc. has a 1-year low of $164.08 and a 1-year high of $260.10. The company has a market cap of $3.20 trillion, a price-to-earnings ratio of 33.76, a PEG ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share 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, analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.47%. Apple’s payout ratio is 15.87%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AAPL. Oppenheimer lowered shares of Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Loop Capital lowered shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 target price on the stock. in a report on Tuesday, January 21st. Citigroup boosted their target price on shares of Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Redburn Partners set a $230.00 target price on shares of Apple in a report on Friday, January 31st. Finally, Moffett Nathanson reissued a “sell” rating and set a $188.00 target price (down from $202.00) on shares of Apple in a report on Tuesday, January 7th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $243.65.

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.