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 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
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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