VisionPoint Advisory Group LLC Cuts Stock Position in Apple Inc. (NASDAQ:AAPL)

VisionPoint Advisory Group LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 4.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,764 shares of the iPhone maker’s stock after selling 862 shares during the quarter. Apple comprises approximately 1.2% of VisionPoint Advisory Group LLC’s portfolio, making the stock its 25th biggest position. VisionPoint Advisory Group LLC’s holdings in Apple were worth $2,455,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AAPL. Robinson Value Management Ltd. acquired a new position in Apple during the third quarter worth $28,000. Hanseatic Management Services Inc. grew its holdings in Apple by 75.4% during the third quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock worth $34,000 after acquiring an additional 107 shares during the period. Cheyne Capital Management UK LLP grew its holdings in Apple by 200.0% during the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $293,000 after acquiring an additional 550 shares during the period. Ramsey Quantitative Systems acquired a new stake in Apple in the second quarter valued at $55,000. Finally, Morgan Dempsey Capital Management LLC acquired a new stake in Apple in the third quarter valued at $55,000. Hedge funds and other institutional investors own 57.60% of the company’s stock.

Apple Stock Performance

Apple stock opened at $152.99 on Thursday. The stock’s 50-day moving average is $145.51 and its 200-day moving average is $145.38. The company has a market cap of $2.42 trillion, a price-to-earnings ratio of 25.97, a price-to-earnings-growth ratio of 1.97 and a beta of 1.30. 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 released its quarterly earnings data on Thursday, February 2nd. The iPhone maker reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.05). The firm had revenue of $117.15 billion during the quarter, compared to analysts’ expectations of $121.67 billion. Apple had a return on equity of 163.45% and a net margin of 24.56%. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.10 earnings per share. Equities analysts anticipate that Apple Inc. will post 6.04 earnings per share for the current year.

Apple Increases Dividend

The business also recently announced 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 of this dividend was Friday, February 10th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.60%. This is a positive change from Apple’s previous quarterly dividend of $0.17. Apple’s dividend payout ratio (DPR) is 15.62%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Credit Suisse Group set a $184.00 target price on Apple in a report on Monday, February 6th. Cowen lowered their target price on Apple from $200.00 to $195.00 and set an “outperform” rating on the stock in a report on Friday, February 3rd. Jefferies Financial Group reissued a “buy” rating and issued a $195.00 target price on shares of Apple in a report on Thursday, March 2nd. UBS Group set a $180.00 target price on Apple in a report on Tuesday, March 7th. Finally, Wedbush upped their target price on Apple from $180.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, March 8th. Two equities 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $168.24.

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.