Cypress Capital Management LLC WY Sells 404 Shares of Apple Inc. (NASDAQ:AAPL)

Cypress Capital Management LLC WY lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 82,943 shares of the iPhone maker’s stock after selling 404 shares during the period. Apple accounts for approximately 23.8% of Cypress Capital Management LLC WY’s investment portfolio, making the stock its biggest position. Cypress Capital Management LLC WY’s holdings in Apple were worth $20,771,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. State Street Corp boosted its stake in Apple by 10.6% during the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after buying an additional 55,935,105 shares during the last quarter. FMR LLC raised its holdings in shares of Apple by 5.3% during the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after acquiring an additional 18,224,005 shares during the period. Geode Capital Management LLC boosted its position in shares of Apple by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock valued at $77,542,863,000 after acquiring an additional 20,483,787 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Apple by 6.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock valued at $22,121,656,000 after purchasing an additional 5,893,741 shares during the period. Finally, International Assets Investment Management LLC increased its position in Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after purchasing an additional 93,886,664 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AAPL shares. DA Davidson set a $290.00 target price on shares of Apple in a report on Friday, January 31st. Jefferies Financial Group reiterated an “underperform” rating on shares of Apple in a report on Wednesday, February 19th. JPMorgan Chase & Co. increased their price objective on Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Wedbush restated an “outperform” rating and issued a $325.00 target price on shares of Apple in a research report on Friday, March 14th. Finally, Oppenheimer cut Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. 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 given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $243.65.

Apple Stock Down 1.0 %

Shares of NASDAQ AAPL opened at $221.53 on Thursday. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10. The firm’s 50-day moving average is $231.03 and its 200-day moving average is $233.35. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $3.33 trillion, a PE ratio of 35.16, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share 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%. Equities analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Apple 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.