Apple Inc. (NASDAQ:AAPL) is Wealthsource Partners LLC’s 8th Largest Position

Wealthsource Partners LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 7.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 214,547 shares of the iPhone maker’s stock after selling 17,826 shares during the quarter. Apple comprises about 2.2% of Wealthsource Partners LLC’s investment portfolio, making the stock its 8th biggest holding. Wealthsource Partners LLC’s holdings in Apple were worth $29,650,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Wealthspire Advisors LLC increased its position in Apple by 42.8% during the second quarter. Wealthspire Advisors LLC now owns 299,829 shares of the iPhone maker’s stock worth $40,993,000 after purchasing an additional 89,865 shares during the last quarter. Eagle Bay Advisors LLC increased its holdings in shares of Apple by 35.7% during the 2nd quarter. Eagle Bay Advisors LLC now owns 25,608 shares of the iPhone maker’s stock worth $3,501,000 after buying an additional 6,735 shares during the last quarter. Callan Capital LLC raised its position in shares of Apple by 1.6% in the 2nd quarter. Callan Capital LLC now owns 85,226 shares of the iPhone maker’s stock worth $11,652,000 after buying an additional 1,322 shares during the period. Bennett Selby Investments LP boosted its holdings in Apple by 0.3% in the third quarter. Bennett Selby Investments LP now owns 151,793 shares of the iPhone maker’s stock valued at $20,978,000 after acquiring an additional 450 shares during the last quarter. Finally, Blueshift Asset Management LLC purchased a new stake in Apple during the third quarter valued at about $563,000. 57.60% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

Shares of AAPL opened at $152.59 on Wednesday. The stock has a market capitalization of $2.41 trillion, a PE ratio of 25.91, a price-to-earnings-growth ratio of 1.97 and a beta of 1.30. The business’s fifty day moving average price is $144.98 and its 200 day moving average price is $145.33. 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 posted its quarterly earnings results on Thursday, February 2nd. The iPhone maker reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.05). Apple had a return on equity of 163.45% and a net margin of 24.56%. The business had revenue of $117.15 billion during the quarter, compared to the consensus estimate of $121.67 billion. During the same quarter in the previous year, the business posted $2.10 earnings per share. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. Equities research analysts forecast that Apple Inc. will post 6.04 EPS for the current year.

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 paid a $0.23 dividend. This is an increase from Apple’s previous quarterly dividend of $0.17. This represents a $0.92 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend was Friday, February 10th. Apple’s payout ratio is presently 15.62%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AAPL. BNP Paribas downgraded 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. National Bank Financial reduced 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. Morgan Stanley increased their price objective on shares of Apple from $175.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, March 3rd. Fundamental Research restated a “buy” rating and set a $168.00 target price on shares of Apple in a report on Tuesday, February 14th. Finally, Cowen lowered their price target on Apple from $200.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $168.24.

Apple Company Profile

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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.