Apple Inc. (NASDAQ:AAPL) is Massachusetts Wealth Management’s 2nd Largest Position

Massachusetts Wealth Management lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,127 shares of the iPhone maker’s stock after selling 200 shares during the quarter. Apple accounts for 3.6% of Massachusetts Wealth Management’s portfolio, making the stock its 2nd largest position. Massachusetts Wealth Management’s holdings in Apple were worth $5,791,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Drystone LLC bought a new position in shares of Apple during the fourth quarter worth about $25,000. Bull Oak Capital LLC raised 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 valued at $36,000 after buying an additional 111 shares in the last quarter. SPX Gestao de Recursos Ltda acquired a new stake in Apple during the third quarter valued at approximately $71,000. Teachers Insurance & Annuity Association of America bought a new position in Apple during the 3rd quarter worth approximately $77,000. Finally, ARK Investment Management LLC acquired a new position in shares of Apple in the 3rd quarter worth approximately $110,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Down 7.3 %

Shares of AAPL stock opened at $188.38 on Friday. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The business’s fifty day moving average is $229.45 and its 200-day moving average is $232.96. The stock has a market cap of $2.83 trillion, a PE ratio of 29.90, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18.

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

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio is presently 15.87%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Tigress Financial raised their price objective on Apple from $295.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Citigroup raised their price target on shares of Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Redburn Partners set a $230.00 price target on shares of Apple in a report on Friday, January 31st. Wedbush reiterated an “outperform” rating and set a $325.00 price objective on shares of Apple in a research note on Friday, March 14th. Finally, Argus upgraded Apple to a “strong-buy” rating in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.26.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 38,822 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the sale, the senior vice president now owns 179,158 shares in the company, valued at approximately $40,072,269.86. The trade was a 17.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the transaction, the chief operating officer now owns 390,059 shares of the company’s stock, valued at approximately $87,377,116.59. The trade was a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 182,451 shares of company stock worth $40,818,720. Corporate insiders own 0.06% of the company’s stock.

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.