Rempart Asset Management Inc. Lowers Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Rempart Asset Management Inc. reduced its position in Apple Inc. (NASDAQ:AAPL) by 6.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,897 shares of the iPhone maker’s stock after selling 550 shares during the quarter. Apple accounts for about 0.4% of Rempart Asset Management Inc.’s holdings, making the stock its 27th largest holding. Rempart Asset Management Inc.’s holdings in Apple were worth $1,978,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of AAPL. Bull Oak Capital LLC lifted its stake in shares of Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares during the last quarter. Hershey Financial Advisers LLC purchased a new position in Apple in the 2nd quarter worth approximately $42,000. SPX Gestao de Recursos Ltda purchased a new position in Apple in the 3rd quarter worth approximately $71,000. Christopher J. Hasenberg Inc lifted its position in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the last quarter. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in shares of Apple during the third quarter valued at approximately $77,000. 67.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AAPL shares. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Evercore ISI increased their target price on shares of Apple from $250.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Raymond James boosted their price target on Apple to $250.00 and gave the company a “buy” rating in a report on Monday, January 20th. Sanford C. Bernstein increased their price objective on Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, TD Cowen reissued a “buy” rating on shares of Apple in a research note on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $242.52.

Apple Price Performance

Apple stock opened at $244.47 on Wednesday. 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 has a 50 day simple moving average of $240.66 and a 200-day simple moving average of $231.94. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10. The stock has a market capitalization of $3.67 trillion, a PE ratio of 38.80, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20.

Apple (NASDAQ:AAPL) last released its earnings results 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 predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.41%. Apple’s payout ratio is 15.87%.

Insider Activity at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by corporate insiders.

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.