Apple Inc. (NASDAQ:AAPL) Position Decreased by New Wave Wealth Advisors LLC

New Wave Wealth Advisors LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,061 shares of the iPhone maker’s stock after selling 1,095 shares during the period. Apple accounts for 2.3% of New Wave Wealth Advisors LLC’s investment portfolio, making the stock its 7th biggest position. New Wave Wealth Advisors LLC’s holdings in Apple were worth $5,524,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Apple by 10.6% during the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after acquiring an additional 55,935,105 shares during the period. FMR LLC increased its position in Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after purchasing an additional 18,224,005 shares during the last quarter. Geode Capital Management LLC increased its position in Apple by 6.5% during the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock worth $77,542,863,000 after purchasing an additional 20,483,787 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in 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 purchasing an additional 5,893,741 shares during the period. Finally, International Assets Investment Management LLC grew its stake in shares of Apple by 20,372.7% during the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after buying an additional 93,886,664 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AAPL has been the topic of several research reports. Bank of America increased their target price on Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Morgan Stanley reduced their price objective on Apple from $275.00 to $252.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. Citigroup increased their target price on shares of Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Argus raised shares of Apple to a “strong-buy” rating in a research report on Friday, January 31st. Finally, Evercore ISI boosted their price objective on shares of Apple from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 18th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $243.65.

Apple Stock Performance

Shares of AAPL stock opened at $223.85 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The business has a 50 day moving average of $230.94 and a two-hundred day moving average of $233.28. The company has a market cap of $3.36 trillion, a P/E ratio of 35.53, a PEG ratio of 2.44 and a beta of 1.18. Apple Inc. has a 52 week low of $164.08 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) 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%. As a group, analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s dividend payout ratio (DPR) 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.