Apple Inc. (NASDAQ:AAPL) Shares Sold by Zimmermann Investment Management & Planning LLC

Zimmermann Investment Management & Planning LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 98.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 964 shares of the iPhone maker’s stock after selling 53,691 shares during the period. Apple accounts for approximately 10.7% of Zimmermann Investment Management & Planning LLC’s investment portfolio, making the stock its 7th biggest position. Zimmermann Investment Management & Planning LLC’s holdings in Apple were worth $242,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AAPL. AMF Tjanstepension AB boosted its holdings in shares of Apple by 21.1% in the 3rd quarter. AMF Tjanstepension AB now owns 3,380,064 shares of the iPhone maker’s stock valued at $787,631,000 after purchasing an additional 588,427 shares in the last quarter. TL Private Wealth lifted its position in shares of Apple by 3.9% during the 3rd quarter. TL Private Wealth now owns 3,583 shares of the iPhone maker’s stock worth $794,000 after buying an additional 133 shares during the last quarter. Kelly Financial Services LLC boosted its stake in Apple by 2.3% in the third quarter. Kelly Financial Services LLC now owns 17,147 shares of the iPhone maker’s stock valued at $3,995,000 after buying an additional 382 shares in the last quarter. Morton Capital Management LLC CA grew its position in Apple by 4.3% in the third quarter. Morton Capital Management LLC CA now owns 66,499 shares of the iPhone maker’s stock valued at $15,494,000 after acquiring an additional 2,719 shares during the last quarter. Finally, Cypress Wealth Services LLC grew its holdings in shares of Apple by 0.6% during the 3rd quarter. Cypress Wealth Services LLC now owns 133,518 shares of the iPhone maker’s stock valued at $31,110,000 after purchasing an additional 817 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Price Performance

Shares of NASDAQ AAPL opened at $223.85 on Friday. 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. The firm’s 50-day moving average price is $230.94 and its 200-day moving average price is $233.28. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a 1-year low of $164.08 and a 1-year high of $260.10.

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

Apple Announces Dividend

The firm also recently announced 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 of this dividend was Monday, February 10th. Apple’s dividend payout ratio is presently 15.87%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AAPL. Monness Crespi & Hardt raised their target price on shares of Apple to $245.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Barclays raised their price objective on Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a report on Friday, January 31st. TD Cowen reaffirmed a “buy” rating on shares of Apple in a report on Tuesday, January 28th. Morgan Stanley cut their price target on Apple from $275.00 to $252.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. Finally, Evercore ISI upped their price objective on Apple from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Tuesday, March 18th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.