Bartlett & CO. Wealth Management LLC Has $440.78 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Bartlett & CO. Wealth Management LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,760,160 shares of the iPhone maker’s stock after selling 18,215 shares during the quarter. Apple comprises approximately 6.4% of Bartlett & CO. Wealth Management LLC’s holdings, making the stock its largest position. Bartlett & CO. Wealth Management LLC’s holdings in Apple were worth $440,780,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Eagle Capital Management LLC grew its position in Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after purchasing an additional 272 shares during the last quarter. Baker Ellis Asset Management LLC lifted its stake in shares of Apple by 0.6% in the fourth quarter. Baker Ellis Asset Management LLC now owns 43,183 shares of the iPhone maker’s stock worth $10,814,000 after buying an additional 253 shares in the last quarter. Rolek Wealth Management LLC purchased a new stake in shares of Apple during the fourth quarter valued at approximately $671,000. Evolution Wealth Advisors LLC increased its position in shares of Apple by 12.9% during the fourth quarter. Evolution Wealth Advisors LLC now owns 35,089 shares of the iPhone maker’s stock valued at $8,791,000 after acquiring an additional 3,998 shares in the last quarter. Finally, Marino Stram & Associates LLC raised its holdings in Apple by 0.5% in the 4th quarter. Marino Stram & Associates LLC now owns 44,158 shares of the iPhone maker’s stock worth $11,058,000 after acquiring an additional 219 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Activity at Apple

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 stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This represents a 20.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AAPL has been the topic of several recent analyst reports. Evercore ISI increased their target price on Apple to $260.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Loop Capital cut Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective on the stock. in a research report on Tuesday, January 21st. Citigroup boosted their target price on Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Monness Crespi & Hardt lifted their price target on shares of Apple to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, KeyCorp reissued an “underweight” rating and set a $200.00 price objective on shares of Apple in a report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $243.22.

Apple Trading Down 3.4 %

Apple stock opened at $209.68 on Friday. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10. The firm’s 50 day moving average price is $235.12 and its 200-day moving average price is $233.83. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The stock has a market cap of $3.15 trillion, a P/E ratio of 33.28, a PEG ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (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%. On average, equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.48%. Apple’s dividend payout ratio is currently 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.