Apple Inc. (NASDAQ:AAPL) Shares Sold by Powers Advisory Group LLC

Powers Advisory Group LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,546 shares of the iPhone maker’s stock after selling 136 shares during the quarter. Apple makes up about 1.3% of Powers Advisory Group LLC’s holdings, making the stock its 16th biggest position. Powers Advisory Group LLC’s holdings in Apple were worth $2,641,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Argus raised shares of Apple to a “strong-buy” rating in a report on Friday, January 31st. Sanford C. Bernstein lifted their price objective on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Citigroup increased their target price on Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. UBS Group lifted their price target on Apple to $236.00 and gave the company a “hold” rating in a research note on Tuesday, February 25th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Apple in a research report on Friday, January 31st. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $243.65.

Apple Stock Up 1.0 %

Apple stock opened at $223.85 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The company has a 50-day simple moving average of $230.94 and a 200-day simple moving average of $233.28. The firm has a market capitalization of $3.36 trillion, a P/E ratio of 35.53, a P/E/G ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. As a group, equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid 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 was Monday, February 10th. Apple’s dividend 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.