Boomfish Wealth Group LLC Reduces Stake in Apple Inc. (NASDAQ:AAPL)

Boomfish Wealth Group LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,562 shares of the iPhone maker’s stock after selling 188 shares during the quarter. Apple makes up 2.2% of Boomfish Wealth Group LLC’s portfolio, making the stock its 6th biggest position. Boomfish Wealth Group LLC’s holdings in Apple were worth $3,647,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. High Net Worth Advisory Group LLC increased its position in Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after buying an additional 1,066 shares in the last quarter. Amara Financial LLC. purchased a new position in shares of Apple in the 3rd quarter worth about $288,000. Sterling Investment Counsel LLC raised its position in shares of Apple by 3.8% in the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after purchasing an additional 2,565 shares during the last quarter. Silicon Valley Capital Partners boosted its stake in Apple by 12.8% in the 3rd quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock worth $59,122,000 after purchasing an additional 28,799 shares in the last quarter. Finally, Catalyst Financial Partners LLC grew its position in Apple by 4.2% during the 3rd quarter. Catalyst Financial Partners LLC now owns 96,589 shares of the iPhone maker’s stock valued at $22,505,000 after purchasing an additional 3,935 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of several recent analyst reports. TD Cowen reaffirmed a “buy” rating on shares of Apple in a report on Tuesday, January 28th. Argus upgraded shares of Apple to a “strong-buy” rating in a research report on Friday, January 31st. Rosenblatt Securities reiterated a “buy” rating and set a $262.00 target price on shares of Apple in a research note on Monday, January 27th. Jefferies Financial Group restated an “underperform” rating on shares of Apple in a research note on Wednesday, February 19th. Finally, Sanford C. Bernstein upped their price objective on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Four investment 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $243.65.

Apple Stock Performance

AAPL opened at $221.53 on Thursday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The stock has a market capitalization of $3.33 trillion, a price-to-earnings ratio of 35.16, a PEG ratio of 2.44 and a beta of 1.18. The company has a fifty day moving average of $231.03 and a 200 day moving average of $233.35. Apple Inc. has a fifty-two week low of $164.08 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings data 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 net margin of 24.30% and a return on equity of 160.83%. As a group, sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio is presently 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.