By otakuyassine3@gmail.com 
Mine & Arao Wealth Creation & Management LLC. reduced its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 2.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,357 shares of the iPhone maker’s stock after selling 1,906 shares during the period. Apple comprises 10.4% of Mine & Arao Wealth Creation & Management LLC.’s investment portfolio, making the stock its 4th biggest position. Mine & Arao Wealth Creation & Management LLC.’s holdings in Apple were worth $22,627,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Drystone LLC acquired a new stake in shares of Apple in the fourth quarter valued at approximately $25,000. Bull Oak Capital LLC grew its holdings in Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after buying an additional 111 shares during the last quarter. SPX Gestao de Recursos Ltda acquired a new stake in Apple during the 3rd quarter valued at $71,000. Christopher J. Hasenberg Inc increased its position in Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares in the last quarter. Finally, Teachers Insurance & Annuity Association of America acquired a new position in shares of Apple in the third quarter worth $77,000. 67.73% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
AAPL has been the subject of a number of recent research reports. Wedbush reiterated an “outperform” rating and set a $325.00 price objective on shares of Apple in a research report on Friday, March 14th. Argus upgraded shares of Apple to a “strong-buy” rating in a report on Friday, January 31st. Monness Crespi & Hardt upped their price objective on shares of Apple to $245.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Citigroup lifted their target price on shares of Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, Bank of America increased their price target on Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Four research 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, Apple has an average rating of “Moderate Buy” and an average price target of $243.65.
Read Our Latest Analysis on Apple
Apple Stock Down 1.0 %
Shares of NASDAQ:AAPL opened at $221.53 on Thursday. The company has a market capitalization of $3.33 trillion, a price-to-earnings ratio of 35.16, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. The company has a 50 day moving average of $231.03 and a two-hundred day moving average of $233.35. Apple Inc. has a 52-week low of $164.08 and a 52-week 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.
Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share 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%. As a group, analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s payout ratio is 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.
Further Reading
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