Echo Wealth Management LLC Sells 201 Shares of Apple Inc. (NASDAQ:AAPL)

Echo Wealth Management LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 0.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,952 shares of the iPhone maker’s stock after selling 201 shares during the period. Apple accounts for about 5.5% of Echo Wealth Management LLC’s holdings, making the stock its 9th biggest position. Echo Wealth Management LLC’s holdings in Apple were worth $8,001,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in AAPL. O Connor Financial Group LLC increased its stake in Apple by 1.2% in the 4th quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock valued at $896,000 after buying an additional 41 shares during the last quarter. 1620 Investment Advisors Inc. increased its stake in Apple by 0.5% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock valued at $2,249,000 after buying an additional 45 shares during the last quarter. Carolina Wealth Advisors LLC grew its position in shares of Apple by 1.3% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after acquiring an additional 46 shares during the period. Menard Financial Group LLC grew its position in shares of Apple by 0.4% in the 3rd quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker’s stock valued at $2,848,000 after acquiring an additional 48 shares during the period. Finally, Hanseatic Management Services Inc. grew its position in shares of Apple by 1.3% in the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker’s stock valued at $945,000 after acquiring an additional 48 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on AAPL shares. Moffett Nathanson reissued a “sell” rating and issued a $188.00 price objective (down previously from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Redburn Partners set a $230.00 price objective on shares of Apple in a research report on Friday, January 31st. Raymond James lifted their price objective on shares of Apple to $250.00 and gave the company a “buy” rating in a research report on Monday, January 20th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Apple in a research report on Friday, January 31st. Finally, Maxim Group lifted their price objective on shares of Apple to $215.00 and gave the company a “hold” rating in a research report on Friday, February 21st. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average price target of $243.65.

Apple Price Performance

Shares of Apple stock opened at $212.69 on Wednesday. Apple Inc. has a twelve month low of $164.08 and a twelve month high of $260.10. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The company has a 50-day simple moving average of $233.31 and a two-hundred day simple moving average of $233.60. The stock has a market capitalization of $3.20 trillion, a price-to-earnings ratio of 33.76, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

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

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.