Williams & Novak LLC Has $3.03 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Williams & Novak LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,111 shares of the iPhone maker’s stock after selling 597 shares during the quarter. Apple comprises approximately 2.9% of Williams & Novak LLC’s holdings, making the stock its 6th largest position. Williams & Novak LLC’s holdings in Apple were worth $3,033,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. O Connor Financial Group LLC raised its holdings in Apple by 1.2% during the fourth quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock valued at $896,000 after acquiring an additional 41 shares during the period. 1620 Investment Advisors Inc. grew its position in shares of Apple by 0.5% during the third quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock worth $2,249,000 after purchasing an additional 45 shares in the last quarter. Carolina Wealth Advisors LLC raised its stake in Apple by 1.3% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after purchasing an additional 46 shares during the period. Menard Financial Group LLC lifted its holdings in Apple by 0.4% in the 3rd quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker’s stock worth $2,848,000 after purchasing an additional 48 shares in the last quarter. Finally, Hanseatic Management Services Inc. boosted its stake in Apple by 1.3% in the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker’s stock worth $945,000 after purchasing an additional 48 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the topic of several recent analyst reports. KeyCorp reiterated an “underweight” rating and set a $200.00 price objective on shares of Apple in a research report on Friday, January 31st. Morgan Stanley reduced their price target on shares of Apple from $275.00 to $252.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. TD Cowen reissued a “buy” rating on shares of Apple in a report on Tuesday, January 28th. Oppenheimer cut Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. increased their price target on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $243.65.

Apple Stock Performance

Shares of Apple stock opened at $218.27 on Monday. 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 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 moving average is $231.82 and its two-hundred day moving average is $233.42. 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 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%. As a group, analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders 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 dividend payout ratio (DPR) 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.