Avaii Wealth Management LLC Has $4.11 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Avaii Wealth Management LLC lowered its stake in Apple Inc. (NASDAQ:AAPL) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,413 shares of the iPhone maker’s stock after selling 142 shares during the quarter. Apple makes up approximately 2.0% of Avaii Wealth Management LLC’s investment portfolio, making the stock its 17th largest position. Avaii Wealth Management LLC’s holdings in Apple were worth $4,110,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Passive Capital Management LLC. increased its position in Apple by 52.6% during the second quarter. Passive Capital Management LLC. now owns 4,244 shares of the iPhone maker’s stock worth $894,000 after buying an additional 1,462 shares during the last quarter. Alternative Investment Advisors LLC. acquired a new position in Apple during the second quarter worth approximately $1,151,000. Sage Advisors LLC increased its position in Apple by 3.3% during the second quarter. Sage Advisors LLC now owns 44,403 shares of the iPhone maker’s stock worth $9,352,000 after buying an additional 1,416 shares during the last quarter. Ashburton Jersey Ltd acquired a new position in Apple during the second quarter worth approximately $15,855,000. Finally, Mattson Financial Services LLC acquired a new position in Apple during the second quarter worth approximately $7,371,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $260.00 price objective on shares of Apple in a report on Friday, January 31st. UBS Group boosted their price objective on Apple to $236.00 and gave the stock a “hold” rating in a report on Tuesday, February 25th. Barclays boosted their price objective on Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. The Goldman Sachs Group restated a “buy” rating on shares of Apple in a report on Wednesday, February 19th. Finally, Argus upgraded Apple to a “strong-buy” rating in a report on Friday, January 31st. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $243.65.

Apple Stock Down 0.6 %

Shares of NASDAQ:AAPL opened at $212.69 on Wednesday. The company has a fifty day moving average of $233.31 and a 200-day moving average of $233.60. The company has a market capitalization of $3.20 trillion, a PE ratio of 33.76, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. Apple Inc. has a 52-week low of $164.08 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, equities analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.47%. Apple’s payout ratio is 15.87%.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.