Litman Gregory Wealth Management LLC Cuts Stake in Apple Inc. (NASDAQ:AAPL)

Litman Gregory Wealth Management LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 4.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 129,322 shares of the iPhone maker’s stock after selling 6,233 shares during the quarter. Apple accounts for about 2.8% of Litman Gregory Wealth Management LLC’s investment portfolio, making the stock its 9th biggest holding. Litman Gregory Wealth Management LLC’s holdings in Apple were worth $32,385,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in AAPL. Drystone LLC bought a new position in Apple in the fourth quarter valued at $25,000. Bull Oak Capital LLC boosted its stake in shares of Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares during the last quarter. Christopher J. Hasenberg Inc grew its holdings in shares of Apple by 88.9% in 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 in the last quarter. SPX Gestao de Recursos Ltda acquired a new stake in shares of Apple in the third quarter valued at about $71,000. Finally, Teachers Insurance & Annuity Association of America bought a new stake in Apple during the third quarter worth about $77,000. 67.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AAPL has been the subject of a number of analyst reports. UBS Group raised their price target on Apple to $236.00 and gave the company a “hold” rating in a research note on Tuesday, February 25th. Argus raised shares of Apple to a “strong-buy” rating in a research note on Friday, January 31st. Wells Fargo & Company upped their price target on shares of Apple to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Barclays boosted their price objective on shares of Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Finally, Sanford C. Bernstein lifted 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. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $245.52.

Apple Trading Down 2.7 %

Shares of Apple stock opened at $217.90 on Friday. The firm’s 50 day moving average is $230.70 and its 200 day moving average is $233.26. The firm has a market capitalization of $3.27 trillion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10. 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 (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%. Equities research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio (DPR) 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.