Apple Inc. (NASDAQ:AAPL) Position Lowered by Jennison Associates LLC

Jennison Associates LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,484,722 shares of the iPhone maker’s stock after selling 1,473,346 shares during the period. Apple comprises approximately 6.0% of Jennison Associates LLC’s portfolio, making the stock its 3rd largest position. Jennison Associates LLC owned approximately 0.26% of Apple worth $9,887,764,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Drystone LLC acquired a new position in shares of Apple during the 4th quarter worth about $25,000. Bull Oak Capital LLC lifted its stake in Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares during the last quarter. SPX Gestao de Recursos Ltda purchased a new stake in Apple during the third quarter worth approximately $71,000. Teachers Insurance & Annuity Association of America purchased a new position in Apple in the third quarter valued at approximately $77,000. Finally, ARK Investment Management LLC acquired a new stake in Apple during the third quarter worth approximately $110,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Trading Up 0.5 %

Shares of AAPL opened at $223.19 on Wednesday. Apple Inc. has a twelve month low of $164.08 and a twelve month 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. The firm has a market capitalization of $3.35 trillion, a P/E ratio of 35.43, a PEG ratio of 2.44 and a beta of 1.18. The firm’s 50-day moving average is $230.55 and its two-hundred day moving average is $233.43.

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

Apple Announces Dividend

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

Analysts Set New Price Targets

AAPL has been the subject of several research analyst reports. UBS Group upped their target price on shares of Apple to $236.00 and gave the company a “hold” rating in a report on Tuesday, February 25th. Rosenblatt Securities restated a “buy” rating and issued a $262.00 price objective on shares of Apple in a research note on Monday, January 27th. Bank of America raised their price objective on Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Wells Fargo & Company boosted their target price on Apple to $275.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Redburn Partners set a $230.00 price target on Apple in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price 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.