Fortress Wealth Management Inc. Cuts Position in Apple Inc. (NASDAQ:AAPL)

Fortress Wealth Management Inc. trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 12,540 shares of the iPhone maker’s stock after selling 121 shares during the period. Apple makes up approximately 1.5% of Fortress Wealth Management Inc.’s holdings, making the stock its 18th largest position. Fortress Wealth Management Inc.’s holdings in Apple were worth $3,140,000 as of its most recent SEC filing.

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

Apple Stock Up 1.9 %

NASDAQ AAPL opened at $218.27 on Friday. The stock’s 50-day moving average price is $231.82 and its 200-day moving average price is $233.33. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a 52 week low of $164.08 and a 52 week high of $260.10. The company has a market capitalization of $3.28 trillion, a P/E ratio of 34.65, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business 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 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio (DPR) is currently 15.87%.

Analysts Set New Price Targets

Several brokerages have issued reports on AAPL. Bank of America lifted their target price on shares of Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, January 31st. KeyCorp reaffirmed an “underweight” rating and issued a $200.00 price objective on shares of Apple in a research report on Friday, January 31st. Monness Crespi & Hardt increased their target price on Apple to $245.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Barclays boosted their price target on Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $243.65.

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.