Apple Inc. (NASDAQ:AAPL) Shares Sold by Ridgepath Capital Management LLC

Ridgepath Capital Management LLC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 19.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,877 shares of the iPhone maker’s stock after selling 1,151 shares during the period. Apple comprises 0.6% of Ridgepath Capital Management LLC’s portfolio, making the stock its 21st largest holding. Ridgepath Capital Management LLC’s holdings in Apple were worth $1,221,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Drystone LLC purchased a new stake in shares of Apple during the fourth quarter worth about $25,000. Bull Oak Capital LLC lifted its stake in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after buying an additional 111 shares during the period. SPX Gestao de Recursos Ltda acquired a new stake in Apple during the third quarter worth approximately $71,000. Christopher J. Hasenberg Inc grew its stake in 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 acquiring an additional 144 shares during the period. Finally, Teachers Insurance & Annuity Association of America acquired a new position in Apple in the 3rd quarter valued at $77,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the topic of several analyst reports. Jefferies Financial Group restated an “underperform” rating on shares of Apple in a report on Wednesday, February 19th. Moffett Nathanson restated a “sell” rating and issued a $188.00 price target (down previously from $202.00) on shares of Apple in a report on Tuesday, January 7th. Raymond James upped their price objective on shares of Apple to $250.00 and gave the company a “buy” rating in a research note on Monday, January 20th. Rosenblatt Securities reissued a “buy” rating and issued a $262.00 target price on shares of Apple in a research report on Monday, January 27th. Finally, Oppenheimer lowered shares of Apple from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $243.65.

Apple Stock Performance

Shares of AAPL stock opened at $221.53 on Thursday. The company’s fifty day moving average price is $231.03 and its two-hundred day moving average price is $233.35. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The firm has a market capitalization of $3.33 trillion, a P/E ratio of 35.16, a P/E/G ratio of 2.44 and a beta of 1.18. Apple Inc. has a 12 month low of $164.08 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings results 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, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared 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 0.45%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s payout ratio is currently 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.