Marino Stram & Associates LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 6.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,852 shares of the iPhone maker’s stock after selling 748 shares during the period. Apple makes up approximately 2.1% of Marino Stram & Associates LLC’s holdings, making the stock its 10th biggest position. Marino Stram & Associates LLC’s holdings in Apple were worth $3,187,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in AAPL. Sage Financial Group Inc. purchased a new position in Apple in the 4th quarter worth about $36,000. CXI Advisors purchased a new position in Apple in the 4th quarter worth about $68,000. Kahn Brothers Group Inc. DE purchased a new position in Apple in the 3rd quarter worth about $112,000. Fulcrum Equity Management purchased a new position in Apple in the 3rd quarter worth about $135,000. Finally, Avondale Wealth Management raised its position in Apple by 68.0% in the 4th quarter. Avondale Wealth Management now owns 531 shares of the iPhone maker’s stock worth $156,000 after buying an additional 215 shares during the last quarter. Institutional investors own 60.28% of the company’s stock.
Several equities research analysts have recently commented on AAPL shares. Macquarie lowered shares of Apple from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. BidaskClub lowered shares of Apple from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 4th. Rosenblatt Securities upped their price target on shares of Apple from $150.00 to $250.00 and gave the company a “sell” rating in a research report on Friday, January 24th. Piper Sandler upped their price target on shares of Apple from $305.00 to $343.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Nomura upped their price target on shares of Apple from $280.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $314.55.
In related news, Director Arthur D. Levinson sold 1,429 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $304.11, for a total value of $434,573.19. Following the completion of the sale, the director now directly owns 1,134,712 shares of the company’s stock, valued at approximately $345,077,266.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.05% of the company’s stock.
Apple stock opened at $324.95 on Friday. The firm has a 50 day moving average of $310.86 and a 200 day moving average of $254.90. The firm has a market capitalization of $1,421.46 billion, a price-to-earnings ratio of 25.66, a P/E/G ratio of 2.25 and a beta of 1.29. Apple Inc. has a 12-month low of $169.38 and a 12-month high of $327.85. The company has a current ratio of 1.60, a quick ratio of 1.56 and a debt-to-equity ratio of 1.04.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, January 28th. The iPhone maker reported $4.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.54 by $0.45. The company had revenue of $91.80 billion during the quarter, compared to analyst estimates of $88.41 billion. Apple had a net margin of 21.49% and a return on equity of 60.19%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.18 EPS. On average, analysts predict that Apple Inc. will post 13.78 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 0.95%. The ex-dividend date was Friday, February 7th. Apple’s dividend payout ratio is 25.90%.
Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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