Front Row Advisors LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.2% during the 3rd quarter, Holdings Channel reports. The firm owned 164,091 shares of the iPhone maker’s stock after selling 408 shares during the quarter. Apple comprises 11.7% of Front Row Advisors LLC’s portfolio, making the stock its biggest holding. Front Row Advisors LLC’s holdings in Apple were worth $22,677,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of AAPL. MKT Advisors LLC grew its stake in shares of Apple by 0.5% in the second quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock valued at $1,777,000 after buying an additional 60 shares in the last quarter. Your Advocates Ltd. LLP raised its holdings 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 grew its holdings in Apple by 0.9% during the second quarter. Aufman Associates Inc now owns 7,674 shares of the iPhone maker’s stock worth $1,049,000 after purchasing an additional 66 shares during the period. Silver Oak Advisory Group Inc. increased its position in Apple by 1.8% during the second quarter. Silver Oak Advisory Group Inc. now owns 3,925 shares of the iPhone maker’s stock worth $537,000 after buying an additional 69 shares during the last quarter. Finally, Lowe Wealth Advisors LLC raised its stake in Apple by 1.4% in the third quarter. Lowe Wealth Advisors LLC now owns 4,993 shares of the iPhone maker’s stock valued at $690,000 after buying an additional 69 shares during the period. 57.60% of the stock is owned by institutional investors.
Apple Trading Up 1.4 %
NASDAQ AAPL opened at $152.59 on Wednesday. Apple Inc. has a twelve month low of $124.17 and a twelve month high of $179.61. The business’s fifty day moving average is $144.98 and its 200 day moving average is $145.33. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.76. The company has a market cap of $2.41 trillion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 1.97 and a beta of 1.30.
Apple Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 13th were paid a $0.23 dividend. The ex-dividend date was Friday, February 10th. This represents a $0.92 annualized dividend and a dividend yield of 0.60%. This is an increase from Apple’s previous quarterly dividend of $0.17. Apple’s dividend payout ratio is currently 15.62%.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on AAPL. The Goldman Sachs Group started coverage on Apple in a report on Sunday, March 5th. They set a “buy” rating and a $199.00 target price on the stock. DA Davidson raised their price objective on shares of Apple from $167.00 to $173.00 and gave the stock a “buy” rating in a research report on Friday, February 3rd. National Bank Financial decreased their target price on Apple to $54.00 and set an “outperform” rating on the stock in a research report on Friday, January 20th. Wedbush upped their target price on Apple from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, March 8th. Finally, Fundamental Research reaffirmed a “buy” rating and issued a $168.00 target price on shares of Apple in a research report on Tuesday, February 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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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