Stonebridge Capital Management Inc. Cuts Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Stonebridge Capital Management Inc. cut its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,253 shares of the iPhone maker’s stock after selling 7,609 shares during the quarter. Apple makes up approximately 6.8% of Stonebridge Capital Management Inc.’s holdings, making the stock its 2nd largest holding. Stonebridge Capital Management Inc.’s holdings in Apple were worth $14,195,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Robinson Value Management Ltd. bought a new stake in Apple during the 3rd quarter valued at approximately $28,000. Hanseatic Management Services Inc. boosted its position in Apple by 75.4% during the 3rd quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock valued at $34,000 after acquiring an additional 107 shares in the last quarter. Bluestem Financial Advisors LLC boosted its position in Apple by 5,935.2% during the 2nd quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock valued at $35,000 after acquiring an additional 229,929 shares in the last quarter. HBC Financial Services PLLC boosted its position in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after acquiring an additional 80 shares in the last quarter. Finally, Ramsey Quantitative Systems bought a new stake in Apple during the 2nd quarter valued at approximately $55,000. 57.60% of the stock is owned by institutional investors.

Apple Trading Down 0.5 %

NASDAQ:AAPL opened at $155.00 on Friday. Apple Inc. has a 12 month low of $124.17 and a 12 month high of $179.61. The company has a 50 day simple moving average of $146.64 and a two-hundred day simple moving average of $145.32. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.76. The company has a market cap of $2.45 trillion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 2.03 and a beta of 1.30.

Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The iPhone maker reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.05). Apple had a net margin of 24.56% and a return on equity of 163.45%. The business had revenue of $117.15 billion for the quarter, compared to the consensus estimate of $121.67 billion. During the same period in the previous year, the firm earned $2.10 EPS. The company’s revenue was down 5.5% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 6.04 earnings per share for the current year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 13th were given a dividend of $0.23 per share. This is an increase from Apple’s previous quarterly dividend of $0.17. 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 0.59%. Apple’s payout ratio is presently 15.62%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AAPL shares. Piper Sandler reaffirmed an “overweight” rating and set a $195.00 price objective on shares of Apple in a research report on Friday, February 3rd. National Bank Financial cut their price objective on Apple to $54.00 and set an “outperform” rating on the stock in a research report on Friday, January 20th. Barclays lifted their price objective on Apple from $133.00 to $145.00 and gave the company an “equal weight” rating in a research report on Friday, February 3rd. Deutsche Bank Aktiengesellschaft set a $160.00 target price on shares of Apple in a report on Friday, February 3rd. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $195.00 target price on shares of Apple in a report on Thursday, March 2nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.