Cullinan Associates Inc. Has $164.48 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Cullinan Associates Inc. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 12.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 656,812 shares of the iPhone maker’s stock after selling 97,556 shares during the quarter. Apple makes up about 10.6% of Cullinan Associates Inc.’s holdings, making the stock its biggest position. Cullinan Associates Inc.’s holdings in Apple were worth $164,479,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AAPL. International Assets Investment Management LLC raised its stake in shares of Apple by 20,372.7% in the 3rd 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 acquiring an additional 93,886,664 shares in the last quarter. State Street Corp grew its holdings in Apple by 10.6% during 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 purchasing an additional 55,935,105 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Apple by 6.5% in the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock valued at $77,542,863,000 after purchasing an additional 20,483,787 shares during the period. FMR LLC lifted its stake in shares of Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after buying an additional 18,224,005 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted 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 buying an additional 5,893,741 shares during the period. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AAPL. TD Cowen reissued a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Morgan Stanley cut their price target on Apple from $275.00 to $252.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. DA Davidson set a $290.00 price target on shares of Apple in a research note on Friday, January 31st. UBS Group increased their target price on shares of Apple to $236.00 and gave the stock a “hold” rating in a research report on Tuesday, February 25th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $325.00 price target on shares of Apple in a report on Friday, March 14th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $245.52.

Apple Price Performance

Shares of AAPL opened at $223.89 on Thursday. The stock has a market capitalization of $3.36 trillion, a P/E ratio of 35.54, a P/E/G ratio of 2.44 and a beta of 1.18. Apple Inc. has a twelve month low of $164.08 and a twelve month high of $260.10. The company has a 50 day moving average of $230.55 and a 200-day moving average of $233.36. 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 issued 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%. As a group, equities research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

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

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.