Pegasus Asset Management Inc. Sells 1,055 Shares of Apple Inc. (NASDAQ:AAPL)

Pegasus Asset Management Inc. trimmed its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 99,501 shares of the iPhone maker’s stock after selling 1,055 shares during the period. Apple accounts for about 7.8% of Pegasus Asset Management Inc.’s investment portfolio, making the stock its 2nd largest position. Pegasus Asset Management Inc.’s holdings in Apple were worth $13,751,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Bluestem Financial Advisors LLC lifted its holdings in Apple by 5,935.2% in the 2nd quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 229,929 shares in the last quarter. HBC Financial Services PLLC lifted its holdings in Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares in the last quarter. Ramsey Quantitative Systems purchased a new position in Apple in the 2nd quarter valued at about $55,000. Morgan Dempsey Capital Management LLC purchased a new position in shares of Apple during the 3rd quarter worth about $55,000. Finally, CFS Investment Advisory Services LLC lifted its holdings in shares of Apple by 14,693.8% during the 3rd quarter. CFS Investment Advisory Services LLC now owns 6,024,330 shares of the iPhone maker’s stock worth $65,000 after acquiring an additional 5,983,608 shares during the period. 57.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AAPL shares. BNP Paribas lowered shares of Apple from an “outperform” rating to a “neutral” rating and set a $140.00 price objective on the stock. in a report on Tuesday, January 3rd. UBS Group set a $180.00 price objective on shares of Apple in a report on Monday, February 20th. Oppenheimer cut their price objective on shares of Apple from $190.00 to $170.00 and set an “outperform” rating on the stock in a report on Monday, December 12th. JPMorgan Chase & Co. set a $175.00 price target on shares of Apple in a report on Wednesday. Finally, StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a report on Saturday, November 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $166.18.

Apple Stock Performance

Apple stock opened at $151.03 on Friday. The company has a market cap of $2.39 trillion, a PE ratio of 25.64, a P/E/G ratio of 1.92 and a beta of 1.30. The company has a fifty day moving average price of $141.82 and a two-hundred day moving average price of $146.57. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.94 and a quick ratio of 0.89. Apple Inc. has a 12 month low of $124.17 and a 12 month high of $179.61.

Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The iPhone maker reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.05). The business had revenue of $117.15 billion during the quarter, compared to analyst estimates of $121.67 billion. Apple had a return on equity of 163.45% and a net margin of 24.56%. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.10 EPS. Research analysts expect that Apple Inc. will post 6.05 earnings per share for the current year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 16th. Shareholders of record on Monday, February 13th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend was Friday, February 10th. This is an increase from Apple’s previous quarterly dividend of $0.17. Apple’s payout ratio is currently 15.62%.

About Apple

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Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.