Apple Inc. (NASDAQ:AAPL) Shares Sold by Pasadena Private Wealth LLC

Pasadena Private Wealth LLC lowered its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,590 shares of the iPhone maker’s stock after selling 802 shares during the period. Apple makes up approximately 1.3% of Pasadena Private Wealth LLC’s portfolio, making the stock its 15th biggest holding. Pasadena Private Wealth LLC’s holdings in Apple were worth $3,813,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Apple by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after purchasing an additional 8,734,393 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Apple by 2.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 237,910,783 shares of the iPhone maker’s stock valued at $32,527,162,000 after purchasing an additional 4,831,418 shares during the period. Legal & General Group Plc grew its holdings in Apple by 8.2% during the second quarter. Legal & General Group Plc now owns 123,534,393 shares of the iPhone maker’s stock worth $16,889,649,000 after acquiring an additional 9,411,018 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Apple by 1.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock worth $14,097,970,000 after acquiring an additional 1,155,915 shares during the period. Finally, UBS Asset Management Americas Inc. grew its holdings in Apple by 12.1% during the second quarter. UBS Asset Management Americas Inc. now owns 80,467,043 shares of the iPhone maker’s stock worth $11,001,469,000 after acquiring an additional 8,716,964 shares during the period. Institutional investors and hedge funds own 57.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Raymond James dropped their price objective on Apple from $185.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, February 3rd. Cowen dropped their price objective on Apple from $200.00 to $195.00 and set an “outperform” rating on the stock in a report on Friday, February 3rd. Fundamental Research reaffirmed a “buy” rating and set a $168.00 price objective on shares of Apple in a report on Tuesday, February 14th. Jefferies Financial Group reaffirmed a “buy” rating and set a $195.00 price objective on shares of Apple in a report on Thursday, March 2nd. Finally, National Bank Financial dropped their price objective on Apple to $54.00 and set an “outperform” rating on the stock in a report on Friday, January 20th. Two 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $168.24.

Apple Stock Performance

Apple stock opened at $152.99 on Thursday. The firm has a market capitalization of $2.42 trillion, a P/E ratio of 25.97, a PEG ratio of 1.97 and a beta of 1.30. The stock has a fifty day moving average price of $145.51 and a 200 day moving average price of $145.38. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $179.61. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.76.

Apple (NASDAQ:AAPL – Get Rating) last released its earnings results on Thursday, February 2nd. The iPhone maker reported $1.88 EPS for the quarter, missing the consensus estimate 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 net margin of 24.56% and a return on equity of 163.45%. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.10 earnings per share. Equities research analysts anticipate that Apple Inc. will post 6.04 earnings per share for the current year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 16th. Shareholders of record on Monday, February 13th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, February 10th. 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 0.60%. Apple’s dividend payout ratio is currently 15.62%.

Apple 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.