Lewis Asset Management LLC Sells 16,458 Shares of Apple Inc. (NASDAQ:AAPL)

Lewis Asset Management LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 27.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 43,459 shares of the iPhone maker’s stock after selling 16,458 shares during the period. Apple accounts for approximately 8.3% of Lewis Asset Management LLC’s portfolio, making the stock its 2nd largest position. Lewis Asset Management LLC’s holdings in Apple were worth $10,883,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Drystone LLC acquired a new position in Apple in the fourth quarter valued at approximately $25,000. Bull Oak Capital LLC increased its stake in shares of Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares in the last quarter. Christopher J. Hasenberg Inc lifted its position in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after acquiring an additional 144 shares during the period. SPX Gestao de Recursos Ltda bought a new position in Apple during the third quarter worth $71,000. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in Apple in the third quarter worth $77,000. 67.73% of the stock is owned by institutional investors.

Apple Price Performance

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

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

Apple Dividend Announcement

The firm 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. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AAPL. Sanford C. Bernstein increased their price target on Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. UBS Group upped their target price on shares of Apple to $236.00 and gave the stock a “hold” rating in a report on Tuesday, February 25th. Moffett Nathanson reiterated a “sell” rating and set a $188.00 price target (down previously from $202.00) on shares of Apple in a research note on Tuesday, January 7th. Redburn Partners set a $230.00 price objective on Apple in a research note on Friday, January 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Apple in a research report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average price target of $243.65.

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.