Denver Wealth Management Inc. Has $8.27 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Denver Wealth Management Inc. reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,013 shares of the iPhone maker’s stock after selling 1,104 shares during the period. Apple makes up about 3.7% of Denver Wealth Management Inc.’s investment portfolio, making the stock its 5th largest position. Denver Wealth Management Inc.’s holdings in Apple were worth $8,267,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. AMF Tjanstepension AB boosted its holdings in Apple by 21.1% in the 3rd quarter. AMF Tjanstepension AB now owns 3,380,064 shares of the iPhone maker’s stock valued at $787,631,000 after purchasing an additional 588,427 shares during the period. Foresight Capital Management Advisors Inc. raised its position in shares of Apple by 4.3% during the third quarter. Foresight Capital Management Advisors Inc. now owns 19,828 shares of the iPhone maker’s stock valued at $4,620,000 after buying an additional 823 shares during the last quarter. Cypress Financial Planning LLC lifted its stake in shares of Apple by 3.2% in the third quarter. Cypress Financial Planning LLC now owns 8,173 shares of the iPhone maker’s stock valued at $1,904,000 after buying an additional 256 shares during the period. New England Research & Management Inc. grew its position in Apple by 0.3% during the third quarter. New England Research & Management Inc. now owns 36,348 shares of the iPhone maker’s stock worth $8,469,000 after buying an additional 95 shares in the last quarter. Finally, Global Financial Private Client LLC increased its stake in Apple by 1.4% during the third quarter. Global Financial Private Client LLC now owns 71,622 shares of the iPhone maker’s stock valued at $16,688,000 after acquiring an additional 1,013 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on AAPL shares. DA Davidson set a $290.00 price objective on Apple in a research report on Friday, January 31st. Morgan Stanley cut their target price on Apple from $275.00 to $252.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Argus upgraded shares of Apple to a “strong-buy” rating in a research note on Friday, January 31st. UBS Group increased their price objective on shares of Apple to $236.00 and gave the company a “hold” rating in a research note on Tuesday, February 25th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $262.00 price objective on shares of Apple in a report on Monday, January 27th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.65.

Apple Trading Up 1.9 %

Shares of AAPL opened at $218.27 on Monday. 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’s fifty day simple moving average is $231.82 and its 200-day simple moving average is $233.42. Apple Inc. has a 12-month low of $164.08 and a 12-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.

Apple (NASDAQ:AAPL) last released 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 return on equity of 160.83% and a net margin of 24.30%. As a group, research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.46%. 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.