Inlet Private Wealth LLC Sells 4,502 Shares of Apple Inc. (NASDAQ:AAPL)

Inlet Private Wealth LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 5.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 85,085 shares of the iPhone maker’s stock after selling 4,502 shares during the period. Apple accounts for approximately 5.6% of Inlet Private Wealth LLC’s portfolio, making the stock its biggest holding. Inlet Private Wealth LLC’s holdings in Apple were worth $21,307,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. State Street Corp lifted its stake 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 buying an additional 55,935,105 shares during the period. FMR LLC raised its holdings 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 acquiring an additional 18,224,005 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Apple by 6.5% in the 3rd 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 during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Apple by 6.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock worth $22,121,656,000 after purchasing an additional 5,893,741 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of 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 period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Price Performance

NASDAQ AAPL opened at $217.90 on Friday. The firm’s 50 day moving average is $230.70 and its 200-day moving average is $233.35. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The company 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 12-month low of $164.08 and a 12-month high of $260.10.

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

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.46%. Apple’s payout ratio is presently 15.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wedbush reiterated an “outperform” rating and set a $325.00 price target on shares of Apple in a research note on Friday, March 14th. Oppenheimer lowered shares of Apple from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. Argus raised shares of Apple to a “strong-buy” rating in a research report on Friday, January 31st. Maxim Group lifted their price objective on Apple to $215.00 and gave the company a “hold” rating in a report on Friday, February 21st. 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, nine have assigned a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $245.52.

Apple 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.