Twelve Points Wealth Management LLC Lowers Holdings in Apple Inc. (NASDAQ:AAPL)

Twelve Points Wealth Management LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 6.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,235 shares of the iPhone maker’s stock after selling 1,278 shares during the period. Apple makes up 1.2% of Twelve Points Wealth Management LLC’s holdings, making the stock its 13th biggest holding. Twelve Points Wealth Management LLC’s holdings in Apple were worth $4,316,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in AAPL. O Connor Financial Group LLC raised its holdings in Apple by 1.2% during the fourth quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock worth $896,000 after purchasing an additional 41 shares in the last quarter. 1620 Investment Advisors Inc. raised its stake in shares of Apple by 0.5% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock worth $2,249,000 after buying an additional 45 shares in the last quarter. Carolina Wealth Advisors LLC lifted its holdings in shares of Apple by 1.3% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after buying an additional 46 shares during the period. Menard Financial Group LLC boosted its stake in shares of Apple by 0.4% in the third quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker’s stock valued at $2,848,000 after buying an additional 48 shares in the last quarter. Finally, Hanseatic Management Services Inc. grew its holdings in Apple by 1.3% during the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker’s stock worth $945,000 after acquiring an additional 48 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

Apple stock opened at $218.27 on Monday. 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 firm has a 50 day moving average price of $231.82 and a 200 day moving average price of $233.42. The company has a market cap of $3.28 trillion, a price-to-earnings ratio of 34.65, 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 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%. Sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.46%. Apple’s payout ratio is 15.87%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Argus raised Apple to a “strong-buy” rating in a report on Friday, January 31st. Moffett Nathanson reiterated a “sell” rating and issued a $188.00 price objective (down previously from $202.00) on shares of Apple in a research note on Tuesday, January 7th. Raymond James upped their target price on shares of Apple to $250.00 and gave the stock a “buy” rating in a research report on Monday, January 20th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $262.00 target price on shares of Apple in a report on Monday, January 27th. Finally, Monness Crespi & Hardt boosted their target price on Apple to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Four equities 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 assigned a strong buy rating to the stock. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $243.65.

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.