Apple Inc. (NASDAQ:AAPL) Stake Reduced by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC cut its position in Apple Inc. (NASDAQ:AAPL) by 0.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 121,992 shares of the iPhone maker’s stock after selling 314 shares during the period. Apple makes up about 4.1% of Patton Albertson Miller Group LLC’s investment portfolio, making the stock its 2nd largest holding. Patton Albertson Miller Group LLC’s holdings in Apple were worth $30,549,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bull Oak Capital LLC lifted its position in shares of Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after buying an additional 111 shares in the last quarter. Christopher J. Hasenberg Inc increased its stake in shares of Apple by 88.9% in 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 in the last quarter. SPX Gestao de Recursos Ltda bought a new stake in shares of Apple during the 3rd quarter valued at $71,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Apple during the 3rd quarter valued at $77,000. Finally, ARK Investment Management LLC purchased a new position in shares of Apple during the 3rd quarter valued at $110,000. Institutional investors own 67.73% of the company’s stock.

Apple Trading Up 0.2 %

NASDAQ:AAPL opened at $214.00 on Tuesday. The firm has a 50-day simple moving average of $233.90 and a 200-day simple moving average of $233.71. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The firm has a market cap of $3.21 trillion, a P/E ratio of 33.97, a P/E/G ratio of 2.44 and a beta of 1.18. 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 analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company 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. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.47%. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Maxim Group increased their target price on Apple to $215.00 and gave the stock a “hold” rating in a research report on Friday, February 21st. Bank of America upped their target price on shares of Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Raymond James lifted their price target on shares of Apple to $250.00 and gave the company a “buy” rating in a report on Monday, January 20th. Wells Fargo & Company boosted their price target on shares of Apple to $275.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Sanford C. Bernstein raised their price objective on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. 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 stock. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $243.22.

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.