Cherry Creek Investment Advisors Inc. Decreases Stock Position in Apple Inc. (NASDAQ:AAPL)

Cherry Creek Investment Advisors Inc. decreased its stake in Apple Inc. (NASDAQ:AAPL) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,907 shares of the iPhone maker’s stock after selling 1,807 shares during the period. Apple comprises about 6.4% of Cherry Creek Investment Advisors Inc.’s investment portfolio, making the stock its 3rd biggest position. Cherry Creek Investment Advisors Inc.’s holdings in Apple were worth $12,999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in AAPL. Lebenthal Global Advisors LLC boosted its stake in shares of Apple by 2.7% in the 4th quarter. Lebenthal Global Advisors LLC now owns 50,810 shares of the iPhone maker’s stock valued at $12,724,000 after purchasing an additional 1,321 shares in the last quarter. Baldwin Wealth Partners LLC MA boosted its position in Apple by 1.7% during the 4th quarter. Baldwin Wealth Partners LLC MA now owns 404,041 shares of the iPhone maker’s stock valued at $101,180,000 after buying an additional 6,682 shares during the period. Foundations Investment Advisors LLC boosted its position in Apple by 6.3% during the 4th quarter. Foundations Investment Advisors LLC now owns 363,124 shares of the iPhone maker’s stock valued at $90,934,000 after buying an additional 21,507 shares during the period. Main Line Retirement Advisors LLC boosted its position in Apple by 1.7% during the 4th quarter. Main Line Retirement Advisors LLC now owns 3,293 shares of the iPhone maker’s stock valued at $825,000 after buying an additional 56 shares during the period. Finally, Parsons Capital Management Inc. RI boosted its position in Apple by 19.1% during the 4th quarter. Parsons Capital Management Inc. RI now owns 749,682 shares of the iPhone maker’s stock valued at $187,735,000 after buying an additional 120,033 shares during the period. Institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AAPL. DA Davidson set a $290.00 target price on shares of Apple in a research report on Friday, January 31st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a research report on Wednesday, February 19th. Citigroup raised their target price on shares of Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. TD Cowen reiterated a “buy” rating on shares of Apple in a research note on Tuesday, January 28th. Finally, Evercore ISI increased their price target on shares of Apple from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $243.65.

Apple Price Performance

Shares of NASDAQ AAPL opened at $218.27 on Friday. Apple Inc. has a twelve month low of $164.08 and a twelve month 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. The company has a market capitalization of $3.28 trillion, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. The business has a 50 day simple moving average of $231.82 and a 200-day simple moving average of $233.26.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating 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 research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

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