GSB Wealth Management LLC Has $11.64 Million Position in Apple Inc. (NASDAQ:AAPL)

GSB Wealth Management LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,467 shares of the iPhone maker’s stock after selling 339 shares during the period. Apple accounts for 3.0% of GSB Wealth Management LLC’s holdings, making the stock its 3rd biggest holding. GSB Wealth Management LLC’s holdings in Apple were worth $11,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. State Street Corp grew its stake in shares of Apple by 10.6% during the third 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 last quarter. FMR LLC increased its stake in Apple by 5.3% during the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock valued at $84,779,231,000 after purchasing an additional 18,224,005 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Apple by 6.5% in 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 buying an additional 20,483,787 shares during the last quarter. Charles Schwab Investment Management Inc. lifted 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 worth $22,121,656,000 after buying an additional 5,893,741 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in shares of Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after buying an additional 93,886,664 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Raymond James upped their target price on Apple to $250.00 and gave the company a “buy” rating in a research report on Monday, January 20th. Sanford C. Bernstein lifted their price objective on shares of Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Wells Fargo & Company increased their price objective on shares of Apple to $275.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Citigroup boosted their target price on shares of Apple from $255.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, DA Davidson set a $290.00 price target on Apple in a research 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 issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average target price of $243.22.

Apple Price Performance

AAPL opened at $214.00 on Tuesday. The company’s 50 day simple moving average is $233.90 and its 200-day simple moving average is $233.71. Apple Inc. has a one year low of $164.08 and a one year 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 stock has a market capitalization of $3.21 trillion, a P/E ratio of 33.97, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last released its earnings results 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%. Sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal 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 dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.47%. Apple’s dividend payout ratio (DPR) is currently 15.87%.

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.