Profit Investment Management LLC Has $2.20 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Profit Investment Management LLC cut its position in Apple Inc. (NASDAQ:AAPL) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,791 shares of the iPhone maker’s stock after selling 287 shares during the period. Apple accounts for about 1.8% of Profit Investment Management LLC’s investment portfolio, making the stock its 25th biggest position. Profit Investment Management LLC’s holdings in Apple were worth $2,201,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. State Street Corp lifted its position in shares of Apple by 10.6% during the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after purchasing an additional 55,935,105 shares in the last quarter. FMR LLC increased its stake in Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock valued at $84,779,231,000 after purchasing an additional 18,224,005 shares in the last quarter. Geode Capital Management LLC increased its stake in 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 in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Apple by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock worth $22,121,656,000 after acquiring 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 worth $219,829,700,000 after acquiring an additional 93,886,664 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AAPL has been the subject of a number of analyst reports. Monness Crespi & Hardt raised their target price on shares of Apple to $245.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Oppenheimer cut shares of Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. UBS Group raised their target price on shares of Apple to $236.00 and gave the stock a “hold” rating in a research note on Tuesday. Morgan Stanley set a $275.00 price target on shares of Apple in a research report on Tuesday, February 11th. Finally, Loop Capital lowered shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 target price on the stock. in a report on Tuesday, January 21st. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $243.88.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is owned by insiders.

Apple Stock Up 1.9 %

Apple stock opened at $241.76 on Friday. The company has a market capitalization of $3.63 trillion, a PE ratio of 38.37, a PEG ratio of 2.44 and a beta of 1.20. The firm’s fifty day moving average is $239.60 and its 200 day moving average is $233.58. 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 Inc. has a 12-month low of $164.07 and a 12-month high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly 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%. As a group, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

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 $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. Apple’s payout ratio is 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.