Institute for Wealth Management LLC. Sells 1,135 Shares of Apple Inc. (NASDAQ:AAPL)

Institute for Wealth Management LLC. lowered its stake in Apple Inc. (NASDAQ:AAPL) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 126,770 shares of the iPhone maker’s stock after selling 1,135 shares during the quarter. Apple comprises approximately 4.0% of Institute for Wealth Management LLC.’s investment portfolio, making the stock its 2nd biggest holding. Institute for Wealth Management LLC.’s holdings in Apple were worth $31,746,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AAPL. State Street Corp increased its stake in Apple by 10.6% in the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock valued at $136,074,372,000 after buying an additional 55,935,105 shares during the last quarter. FMR LLC grew its holdings in shares of 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 acquiring an additional 18,224,005 shares in the last quarter. Geode Capital Management LLC raised its holdings in Apple by 6.5% during the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock worth $77,542,863,000 after acquiring an additional 20,483,787 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Apple by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock worth $22,121,656,000 after acquiring an additional 5,893,741 shares in the last quarter. Finally, International Assets Investment Management LLC boosted 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 valued at $219,829,700,000 after purchasing an additional 93,886,664 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Stock Performance

NASDAQ:AAPL 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. The stock has a market capitalization of $3.36 trillion, a PE ratio of 35.53, a P/E/G ratio of 2.44 and a beta of 1.18. Apple Inc. has a fifty-two week low of $164.08 and a fifty-two week high of $260.10. The company has a fifty day moving average of $230.94 and a two-hundred day moving average of $233.28.

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

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were given a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. Apple’s dividend payout ratio is currently 15.87%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Apple in a research report on Friday, January 31st. Moffett Nathanson reaffirmed a “sell” rating and issued a $188.00 target price (down from $202.00) on shares of Apple in a report on Tuesday, January 7th. Oppenheimer cut Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Bank of America upped their price objective on Apple from $253.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their target price on Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company 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.