Bridge Creek Capital Management LLC Sells 1,793 Shares of Apple Inc. (NASDAQ:AAPL)

Bridge Creek Capital Management LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 59,537 shares of the iPhone maker’s stock after selling 1,793 shares during the quarter. Apple accounts for 4.6% of Bridge Creek Capital Management LLC’s investment portfolio, making the stock its largest holding. Bridge Creek Capital Management LLC’s holdings in Apple were worth $14,909,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bull Oak Capital LLC raised its position in shares of 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 purchasing an additional 111 shares during the period. Hershey Financial Advisers LLC acquired a new position in shares of Apple during the second quarter worth approximately $42,000. Christopher J. Hasenberg Inc raised its position in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the period. SPX Gestao de Recursos Ltda acquired a new position in shares of Apple during the third quarter worth approximately $71,000. Finally, Teachers Insurance & Annuity Association of America acquired 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.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AAPL. KeyCorp reiterated an “underweight” rating and set a $200.00 price target on shares of Apple in a report on Friday, January 31st. Evercore ISI upped their price target on Apple to $260.00 and gave the stock a “buy” rating in a report on Thursday. Sanford C. Bernstein upped their price target on Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Morgan Stanley upped their price target on Apple from $273.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Argus upgraded Apple to a “strong-buy” rating in a report on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $242.52.

Apple Price Performance

AAPL opened at $245.55 on Friday. The stock has a market capitalization of $3.69 trillion, a PE ratio of 38.98, a price-to-earnings-growth ratio of 2.43 and a beta of 1.20. The stock’s 50 day moving average price is $240.47 and its 200-day moving average price is $232.55. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results 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 return on equity of 160.83% and a net margin of 24.30%. On average, equities research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.41%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio (DPR) is 15.87%.

Insiders Place Their Bets

In other news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction on 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 transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.06% of the company’s stock.

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.