Apple Inc. (NASDAQ:AAPL) Stock Position Lowered by IRON Financial LLC

IRON Financial LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,170 shares of the iPhone maker’s stock after selling 133 shares during the quarter. Apple comprises 9.2% of IRON Financial LLC’s investment portfolio, making the stock its biggest position. IRON Financial LLC’s holdings in Apple were worth $16,320,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Bull Oak Capital LLC increased its holdings in shares of Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares during the last quarter. SPX Gestao de Recursos Ltda bought a new position in shares of Apple in the 3rd quarter worth $71,000. Christopher J. Hasenberg Inc grew its holdings in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the last quarter. Teachers Insurance & Annuity Association of America bought a new position in shares of Apple during the 3rd quarter valued at $77,000. Finally, ARK Investment Management LLC bought a new position in shares of Apple during the 3rd quarter valued at $110,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AAPL has been the topic of several recent research reports. Jefferies Financial Group reaffirmed an “underperform” rating on shares of Apple in a report on Wednesday, February 19th. Maxim Group increased their target price on shares of Apple to $215.00 and gave the company a “hold” rating in a report on Friday, February 21st. Moffett Nathanson reaffirmed a “sell” rating and set a $188.00 target price (down previously from $202.00) on shares of Apple in a report on Tuesday, January 7th. Argus raised shares of Apple to a “strong-buy” rating in a research report on Friday, January 31st. Finally, Evercore ISI increased their price target on shares of Apple from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Tuesday. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $243.65.

Apple Stock Up 1.9 %

NASDAQ:AAPL opened at $218.27 on Friday. The firm has a market capitalization 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 stock has a 50 day moving average of $231.82 and a 200-day moving average of $233.26. Apple Inc. has a 52 week low of $164.08 and a 52 week high of $260.10. 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 issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (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%. Analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

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