Massachusetts Wealth Management lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 0.9% during the 4th quarter, HoldingsChannel reports. The fund owned 23,127 shares of the iPhone maker’s stock after selling 200 shares during the period. Apple accounts for approximately 3.6% of Massachusetts Wealth Management’s portfolio, making the stock its 2nd biggest holding. Massachusetts Wealth Management’s holdings in Apple were worth $5,791,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. International Assets Investment Management LLC raised its holdings in shares of Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after acquiring an additional 93,886,664 shares in the last quarter. State Street Corp increased its position in Apple by 10.6% in the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after purchasing an additional 55,935,105 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Apple by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock worth $77,542,863,000 after purchasing an additional 20,483,787 shares in the last quarter. FMR LLC lifted its holdings in shares of Apple by 5.3% during the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock valued at $84,779,231,000 after buying an additional 18,224,005 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Apple by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock valued at $22,121,656,000 after buying an additional 5,893,741 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on AAPL. Oppenheimer lowered shares of Apple from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. Sanford C. Bernstein raised their price target on shares of Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Redburn Partners set a $230.00 price objective on shares of Apple in a report on Friday, January 31st. KeyCorp restated an “underweight” rating and set a $200.00 target price on shares of Apple in a report on Friday, January 31st. Finally, Wedbush reiterated an “outperform” rating and set a $325.00 price target on shares of Apple in a research note on Friday, March 14th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $245.26.
Check Out Our Latest Stock Report on Apple
Insider Transactions at Apple
In other news, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the sale, the chief operating officer now directly owns 390,059 shares of the company’s stock, valued at $87,377,116.59. This represents a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 108,136 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the transaction, the chief executive officer now owns 3,280,295 shares of the company’s stock, valued at $733,637,976.75. This trade represents a 3.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 182,451 shares of company stock worth $40,818,720. Insiders own 0.06% of the company’s stock.
Apple Trading Down 7.3 %
Shares of AAPL stock opened at $188.38 on Friday. The company has a market capitalization of $2.83 trillion, a P/E ratio of 29.90, a P/E/G ratio of 2.44 and a beta of 1.18. Apple Inc. has a 12-month low of $164.08 and a 12-month high of $260.10. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The firm has a 50-day moving average price of $229.45 and a 200 day moving average price of $232.96.
Apple (NASDAQ:AAPL – Get Free Report) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Monday, February 10th. Apple’s payout ratio is presently 15.87%.
Apple 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.
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