Benin Management CORP Sells 65 Shares of Apple Inc. (NASDAQ:AAPL)

Benin Management CORP trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 0.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 127,563 shares of the iPhone maker’s stock after selling 65 shares during the quarter. Apple makes up 8.8% of Benin Management CORP’s holdings, making the stock its 2nd largest holding. Benin Management CORP’s holdings in Apple were worth $31,944,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of AAPL. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Apple by 0.4% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 626,881 shares of the iPhone maker’s stock valued at $156,983,000 after buying an additional 2,350 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Apple by 64.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 664,870 shares of the iPhone maker’s stock valued at $166,497,000 after buying an additional 260,271 shares in the last quarter. CX Institutional grew its holdings in shares of Apple by 11.7% during the fourth quarter. CX Institutional now owns 176,965 shares of the iPhone maker’s stock valued at $44,316,000 after buying an additional 18,481 shares in the last quarter. Berbice Capital Management LLC purchased a new position in shares of Apple during the fourth quarter valued at $5,789,000. Finally, Impact Partnership Wealth LLC grew its holdings in shares of Apple by 9.6% during the fourth quarter. Impact Partnership Wealth LLC now owns 44,447 shares of the iPhone maker’s stock valued at $11,130,000 after buying an additional 3,887 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

NASDAQ AAPL opened at $213.49 on Monday. Apple Inc. has a twelve month low of $164.08 and a twelve month 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. The stock has a market capitalization of $3.21 trillion, a PE ratio of 33.89, a P/E/G ratio of 2.44 and a beta of 1.18. The stock has a 50-day simple moving average of $234.52 and a 200 day simple moving average of $233.82.

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

Apple Dividend Announcement

The company also recently declared 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. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.47%. Apple’s dividend payout ratio is 15.87%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AAPL. DA Davidson set a $290.00 price target on Apple in a report on Friday, January 31st. JPMorgan Chase & Co. lifted 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. KeyCorp restated an “underweight” rating and issued a $200.00 target price on shares of Apple in a research note on Friday, January 31st. Bank of America boosted their target price on Apple from $253.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, Barclays boosted their target price on Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Four equities research 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’s stock. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $243.22.

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.