Rappaport Reiches Capital Management LLC Cuts Holdings in Apple Inc. (NASDAQ:AAPL)

Rappaport Reiches Capital Management LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,045 shares of the iPhone maker’s stock after selling 313 shares during the quarter. Apple makes up about 6.8% of Rappaport Reiches Capital Management LLC’s holdings, making the stock its 5th biggest holding. Rappaport Reiches Capital Management LLC’s holdings in Apple were worth $26,305,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

A number of analysts have recently commented on AAPL shares. TD Cowen reissued a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Argus raised Apple to a “strong-buy” rating in a report on Friday, January 31st. JPMorgan Chase & Co. raised their price target on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $262.00 price target on shares of Apple in a research note on Monday, January 27th. Finally, UBS Group raised their price objective on shares of Apple to $236.00 and gave the company a “hold” rating in a research note on Tuesday, February 25th. Four research 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 given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $243.22.

Apple Stock Up 1.8 %

Apple stock opened at $213.49 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $3.21 trillion, a price-to-earnings ratio of 33.89, a PEG ratio of 2.44 and a beta of 1.18. The stock has a 50 day moving average of $234.52 and a two-hundred day moving average of $233.77. Apple Inc. has a twelve month low of $164.08 and a twelve month high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (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%. As a group, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, February 10th. Apple’s payout ratio is currently 15.87%.

Insider Activity

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the business’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 completion of the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.06% of the company’s stock.

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.