Breakwater Investment Management Trims Holdings in Apple Inc. (NASDAQ:AAPL)

Breakwater Investment Management decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 14.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,566 shares of the iPhone maker’s stock after selling 269 shares during the period. Breakwater Investment Management’s holdings in Apple were worth $392,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. Bull Oak Capital LLC increased its stake in shares of 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 during the period. Hershey Financial Advisers LLC purchased a new position in Apple in the second quarter valued at about $42,000. Christopher J. Hasenberg Inc grew its stake in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the last quarter. SPX Gestao de Recursos Ltda purchased a new position in Apple in the third quarter valued at about $71,000. Finally, Teachers Insurance & Annuity Association of America purchased a new position in Apple in the third quarter valued at about $77,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Transactions at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. DA Davidson set a $290.00 target price on Apple in a research note on Friday, January 31st. Sanford C. Bernstein lifted their target price on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. The Goldman Sachs Group reissued a “buy” rating on shares of Apple in a report on Wednesday, February 19th. Rosenblatt Securities reissued a “buy” rating and issued a $262.00 price target on shares of Apple in a report on Monday, January 27th. Finally, Morgan Stanley set a $275.00 price target on Apple in a report on Tuesday, February 11th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $243.88.

Apple Stock Up 1.6 %

Shares of NASDAQ:AAPL opened at $239.07 on Friday. The stock has a market cap of $3.59 trillion, a P/E ratio of 37.95, a PEG ratio of 2.44 and a beta of 1.18. 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 52-week low of $164.08 and a 52-week high of $260.10. The business has a fifty day moving average of $237.56 and a two-hundred day moving average of $234.08.

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 expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio is presently 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.