Cypress Point Wealth Management LLC Sells 3,084 Shares of Apple Inc. (NASDAQ:AAPL)

Cypress Point Wealth Management LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 29.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,333 shares of the iPhone maker’s stock after selling 3,084 shares during the period. Cypress Point Wealth Management LLC’s holdings in Apple were worth $1,836,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. O Connor Financial Group LLC lifted its position in Apple by 1.2% in the fourth quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock valued at $896,000 after purchasing an additional 41 shares during the last quarter. 1620 Investment Advisors Inc. lifted its position in Apple by 0.5% in the third quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock valued at $2,249,000 after purchasing an additional 45 shares during the last quarter. Carolina Wealth Advisors LLC lifted its position in Apple by 1.3% in the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after purchasing an additional 46 shares during the last quarter. Menard Financial Group LLC lifted its position in Apple by 0.4% in the third quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker’s stock valued at $2,848,000 after purchasing an additional 48 shares during the last quarter. Finally, Hanseatic Management Services Inc. lifted its position in Apple by 1.3% in the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker’s stock valued at $945,000 after purchasing an additional 48 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Trading Down 0.6 %

NASDAQ AAPL opened at $212.69 on Wednesday. Apple Inc. has a 12 month low of $164.08 and a 12 month high of $260.10. The stock has a market cap of $3.20 trillion, a P/E ratio of 33.76, a P/E/G ratio of 2.44 and a beta of 1.18. The stock’s fifty day moving average price is $233.31 and its 200-day moving average price is $233.60. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.

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 return on equity of 160.83% and a net margin of 24.30%. As a group, equities analysts forecast that Apple Inc. will post 7.28 EPS 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 paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%. Apple’s dividend payout ratio is currently 15.87%.

Analysts Set New Price Targets

Several brokerages have weighed in on AAPL. Barclays boosted their price objective on Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Apple in a report on Friday, January 31st. The Goldman Sachs Group restated a “buy” rating on shares of Apple in a report on Wednesday, February 19th. Redburn Partners set a $230.00 target price on Apple in a report on Friday, January 31st. Finally, Evercore ISI upped their target price on Apple from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday. 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 given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $243.65.

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.