Denver PWM LLC Decreases Stock Position in Apple Inc. (NASDAQ:AAPL)

Denver PWM LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 14.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,545 shares of the iPhone maker’s stock after selling 604 shares during the quarter. Denver PWM LLC’s holdings in Apple were worth $826,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Apple by 10.6% in the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock valued at $136,074,372,000 after purchasing an additional 55,935,105 shares in the last quarter. FMR LLC boosted its stake in Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after buying an additional 18,224,005 shares during the last quarter. Geode Capital Management LLC grew its holdings in Apple by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock valued at $77,542,863,000 after buying an additional 20,483,787 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Apple by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock worth $22,121,656,000 after acquiring an additional 5,893,741 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Apple by 20,372.7% during the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after acquiring an additional 93,886,664 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Apple

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL stock opened at $244.60 on Friday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The firm has a market capitalization of $3.67 trillion, a P/E ratio of 38.83, a P/E/G ratio of 2.32 and a beta of 1.20. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The business’s 50-day moving average is $240.70 and its two-hundred day moving average is $231.59.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating 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%. Analysts anticipate 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. Shareholders 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 0.41%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio is presently 15.87%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AAPL. The Goldman Sachs Group raised their price objective on shares of Apple from $280.00 to $294.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Monness Crespi & Hardt raised their price target on shares of Apple to $245.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Moffett Nathanson reaffirmed a “sell” rating and set a $188.00 price target (down previously from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Morgan Stanley raised their target price on Apple from $273.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Argus upgraded Apple to a “strong-buy” rating in a research report on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $242.52.

Apple Company 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.