Raab & Moskowitz Asset Management LLC lowered its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 3.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,259 shares of the iPhone maker’s stock after selling 3,289 shares during the quarter. Apple accounts for approximately 5.2% of Raab & Moskowitz Asset Management LLC’s holdings, making the stock its biggest holding. Raab & Moskowitz Asset Management LLC’s holdings in Apple were worth $12,335,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in AAPL. MKT Advisors LLC lifted its stake in shares of Apple by 0.5% in the 2nd quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock valued at $1,777,000 after purchasing an additional 60 shares during the period. Your Advocates Ltd. LLP lifted its stake in shares of Apple by 1.0% in the 2nd quarter. Your Advocates Ltd. LLP now owns 6,339 shares of the iPhone maker’s stock valued at $867,000 after purchasing an additional 65 shares during the period. Aufman Associates Inc lifted its stake in shares of Apple by 0.9% in the 2nd quarter. Aufman Associates Inc now owns 7,674 shares of the iPhone maker’s stock valued at $1,049,000 after purchasing an additional 66 shares during the period. Silver Oak Advisory Group Inc. lifted its stake in shares of Apple by 1.8% in the 2nd quarter. Silver Oak Advisory Group Inc. now owns 3,925 shares of the iPhone maker’s stock valued at $537,000 after purchasing an additional 69 shares during the period. Finally, Lowe Wealth Advisors LLC lifted its stake in shares of Apple by 1.4% in the 3rd quarter. Lowe Wealth Advisors LLC now owns 4,993 shares of the iPhone maker’s stock valued at $690,000 after purchasing an additional 69 shares during the period. Hedge funds and other institutional investors own 57.60% of the company’s stock.
Apple Trading Down 1.4 %
NASDAQ AAPL opened at $148.50 on Friday. The stock has a market capitalization of $2.35 trillion, a P/E ratio of 25.21, a P/E/G ratio of 1.99 and a beta of 1.30. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $179.61. The firm has a 50-day moving average price of $144.02 and a 200 day moving average price of $145.70. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.76.
Apple Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, February 16th. Shareholders of record on Monday, February 13th were given a dividend of $0.23 per share. This is a positive change from Apple’s previous quarterly dividend of $0.17. This represents a $0.92 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend was Friday, February 10th. Apple’s dividend payout ratio is presently 15.62%.
Analyst Ratings Changes
Several equities research analysts recently commented on AAPL shares. BNP Paribas lowered shares of Apple from an “outperform” rating to a “neutral” rating and set a $140.00 price target for the company. in a report on Tuesday, January 3rd. UBS Group set a $180.00 price target on shares of Apple in a report on Tuesday, March 7th. Bank of America upped their target price on shares of Apple from $153.00 to $158.00 in a report on Friday, February 3rd. Deutsche Bank Aktiengesellschaft set a $160.00 target price on shares of Apple in a report on Friday, February 3rd. Finally, National Bank Financial lowered their price target on shares of Apple to $54.00 and set an “outperform” rating on the stock in a research report on Friday, January 20th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $168.24.
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.
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