Alpha Cubed Investments LLC Sells 12,167 Shares of Apple Inc. (NASDAQ:AAPL)

Alpha Cubed Investments LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 650,634 shares of the iPhone maker’s stock after selling 12,167 shares during the period. Apple accounts for 7.4% of Alpha Cubed Investments LLC’s investment portfolio, making the stock its biggest holding. Alpha Cubed Investments LLC’s holdings in Apple were worth $162,932,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Clear Harbor Asset Management LLC boosted its holdings in Apple by 2.2% in the 4th quarter. Clear Harbor Asset Management LLC now owns 345,634 shares of the iPhone maker’s stock worth $86,554,000 after buying an additional 7,570 shares during the period. ADE LLC lifted its stake in Apple by 0.5% in the 4th quarter. ADE LLC now owns 15,329 shares of the iPhone maker’s stock worth $3,839,000 after purchasing an additional 74 shares in the last quarter. TB Alternative Assets Ltd. purchased a new stake in Apple in the 4th quarter worth approximately $4,169,000. Perpetual Ltd lifted its stake in Apple by 28.6% in the 4th quarter. Perpetual Ltd now owns 78,057 shares of the iPhone maker’s stock worth $19,547,000 after purchasing an additional 17,381 shares in the last quarter. Finally, Charles Schwab Trust Co lifted its stake in Apple by 11.6% in the 4th quarter. Charles Schwab Trust Co now owns 31,616 shares of the iPhone maker’s stock worth $7,917,000 after purchasing an additional 3,283 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the topic of several research reports. Wells Fargo & Company raised their price objective on shares of Apple to $275.00 and gave the company a “buy” rating in a research report on Monday, December 9th. UBS Group raised their price objective on shares of Apple to $236.00 and gave the company a “hold” rating in a research report on Tuesday, February 25th. Evercore ISI raised their price objective on shares of Apple to $260.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. DA Davidson set a $290.00 target price on shares of Apple in a research report on Friday, January 31st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $262.00 target price on shares of Apple in a research report on Monday, January 27th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $243.88.

Insiders Place Their Bets

In other news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction that occurred on 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 owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of AAPL opened at $227.48 on Tuesday. The stock has a market cap of $3.42 trillion, a PE ratio of 36.11, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. Apple Inc. has a fifty-two week low of $164.08 and a fifty-two week high of $260.10. The firm’s 50-day simple moving average is $237.06 and its two-hundred day simple moving average is $234.16.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data 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%. Analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio (DPR) is presently 15.87%.

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.