Alterna Wealth Management Inc. Decreases Holdings in Apple Inc. (NASDAQ:AAPL)

Alterna Wealth Management Inc. lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,487 shares of the iPhone maker’s stock after selling 793 shares during the quarter. Apple comprises 4.1% of Alterna Wealth Management Inc.’s investment portfolio, making the stock its 5th largest position. Alterna Wealth Management Inc.’s holdings in Apple were worth $4,880,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AAPL. Drystone LLC bought a new stake in Apple during the fourth quarter worth about $25,000. Bull Oak Capital LLC raised its holdings 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 valued at $36,000 after buying an additional 111 shares in the last quarter. SPX Gestao de Recursos Ltda purchased a new position in shares of Apple during the 3rd quarter valued at about $71,000. Teachers Insurance & Annuity Association of America bought a new stake in Apple in the 3rd quarter worth approximately $77,000. Finally, ARK Investment Management LLC purchased a new stake in Apple in the third quarter worth approximately $110,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Argus raised shares of Apple to a “strong-buy” rating in a research note on Friday, January 31st. Wedbush reiterated an “outperform” rating and issued a $325.00 target price on shares of Apple in a research report on Friday, March 14th. Jefferies Financial Group restated an “underperform” rating on shares of Apple in a research report on Wednesday, February 19th. Bank of America raised 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, Maxim Group boosted their target price on Apple to $215.00 and gave the company a “hold” rating in a research note on Friday, February 21st. Four analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $245.52.

Apple Trading Up 1.9 %

NASDAQ AAPL opened at $222.13 on Tuesday. The firm has a market capitalization of $3.34 trillion, a PE ratio of 35.26, a P/E/G ratio of 2.44 and a beta of 1.18. The stock’s 50 day moving average is $230.54 and its 200 day moving average is $233.42. Apple Inc. has a twelve month low of $164.08 and a twelve month high of $260.10. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating 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%. 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 disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio (DPR) is presently 15.87%.

About Apple

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.