Apple Inc. (NASDAQ:AAPL) Shares Sold by Ridgepath Capital Management LLC

Ridgepath Capital Management LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 19.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 4,877 shares of the iPhone maker’s stock after selling 1,151 shares during the period. Apple makes up 0.6% of Ridgepath Capital Management LLC’s investment portfolio, making the stock its 21st largest position. Ridgepath Capital Management LLC’s holdings in Apple were worth $1,221,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Drystone LLC acquired a new stake in shares of Apple during the fourth quarter worth $25,000. Bull Oak Capital LLC grew its position in shares of Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after buying an additional 111 shares during the last quarter. SPX Gestao de Recursos Ltda acquired a new stake in Apple during the third quarter worth about $71,000. Christopher J. Hasenberg Inc lifted its holdings in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares during the last quarter. Finally, Teachers Insurance & Annuity Association of America acquired a new position in Apple in the third quarter valued at approximately $77,000. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Down 1.0 %

Shares of Apple stock opened at $221.53 on Thursday. Apple Inc. has a 12-month low of $164.08 and a 12-month high of $260.10. The firm has a market capitalization of $3.33 trillion, a PE ratio of 35.16, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The stock’s fifty day moving average is $231.03 and its 200-day moving average is $233.35.

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

Apple Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on AAPL shares. Redburn Partners set a $230.00 price target on Apple in a research report on Friday, January 31st. Monness Crespi & Hardt raised their target price on Apple to $245.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. UBS Group boosted their price target on shares of Apple to $236.00 and gave the company a “hold” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. increased their price objective on shares of Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, TD Cowen reissued a “buy” rating on shares of Apple in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.