Apple Inc. (NASDAQ:AAPL) is Fortitude Advisory Group L.L.C.’s 3rd Largest Position

Fortitude Advisory Group L.L.C. decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,767 shares of the iPhone maker’s stock after selling 2,350 shares during the period. Apple accounts for 4.5% of Fortitude Advisory Group L.L.C.’s investment portfolio, making the stock its 3rd biggest position. Fortitude Advisory Group L.L.C.’s holdings in Apple were worth $7,454,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of AAPL. Bull Oak Capital LLC increased its stake in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the last quarter. Christopher J. Hasenberg Inc grew its position in Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after acquiring an additional 144 shares during the period. SPX Gestao de Recursos Ltda purchased a new stake in Apple during the third quarter valued at about $71,000. Teachers Insurance & Annuity Association of America purchased a new stake in Apple during the third quarter valued at about $77,000. Finally, ARK Investment Management LLC purchased a new stake in Apple during the third quarter valued at about $110,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AAPL shares. Loop Capital downgraded Apple from a “buy” rating to a “hold” rating and set a $230.00 price target for the company. in a research report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price target on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Wedbush reaffirmed an “outperform” rating and issued a $325.00 target price on shares of Apple in a research report on Friday, March 14th. Redburn Partners set a $230.00 target price on Apple in a research report on Friday, January 31st. Finally, Sanford C. Bernstein upped their target price on Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Four 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 data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $243.65.

Apple Trading Up 1.9 %

AAPL opened at $218.27 on Friday. 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 stock has a market cap of $3.28 trillion, a PE ratio of 34.65, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. The company has a fifty day moving average of $231.82 and a 200-day moving average of $233.26. Apple Inc. has a twelve month low of $164.08 and a twelve month high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly 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%. On average, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s payout ratio is currently 15.87%.

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.