Apple Inc. (NASDAQ:AAPL) is Culbertson A N & Co. Inc.’s 2nd Largest Position

Culbertson A N & Co. Inc. trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,854 shares of the iPhone maker’s stock after selling 6,567 shares during the period. Apple comprises approximately 7.6% of Culbertson A N & Co. Inc.’s holdings, making the stock its 2nd biggest holding. Culbertson A N & Co. Inc.’s holdings in Apple were worth $47,794,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC grew its stake in Apple by 20,372.7% in 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. State Street Corp grew its stake in Apple by 10.6% in the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after acquiring an additional 55,935,105 shares during the period. Geode Capital Management LLC grew its stake 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 worth $77,542,863,000 after acquiring an additional 20,483,787 shares during the period. FMR LLC grew its stake in Apple by 5.3% in the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after acquiring an additional 18,224,005 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in 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 period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on AAPL. Barclays lifted their target price on shares of Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $262.00 target price on shares of Apple in a research note on Monday, January 27th. Redburn Partners set a $230.00 price target on shares of Apple in a report on Friday, January 31st. JPMorgan Chase & Co. lifted their price target on shares of Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Wedbush reiterated an “outperform” rating and issued a $325.00 price target on shares of Apple in a report on Monday, March 3rd. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $243.88.

Insider Transactions at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $239.07 on Monday. Apple Inc. has a 12 month low of $164.08 and a 12 month high of $260.10. 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 firm has a market capitalization of $3.59 trillion, a P/E ratio of 37.95, a P/E/G ratio of 2.44 and a beta of 1.18. The company’s fifty day moving average price is $237.56 and its two-hundred day moving average price is $234.14.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping 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%. On average, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s payout ratio is currently 15.87%.

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.