Towerpoint Wealth LLC Has $3.69 Million Stake in Apple Inc. (NASDAQ:AAPL)

Towerpoint Wealth LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 19,158 shares of the iPhone maker’s stock after selling 333 shares during the quarter. Apple accounts for about 2.0% of Towerpoint Wealth LLC’s holdings, making the stock its 14th biggest position. Towerpoint Wealth LLC’s holdings in Apple were worth $3,688,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in AAPL. AEGON ASSET MANAGEMENT UK Plc bought a new stake in Apple in the fourth quarter valued at approximately $560,388,000. Hudson Bay Capital Management LP bought a new stake in Apple in the third quarter valued at approximately $487,435,000. Barclays PLC boosted its holdings in Apple by 6.0% in the third quarter. Barclays PLC now owns 49,759,061 shares of the iPhone maker’s stock valued at $8,519,244,000 after acquiring an additional 2,826,709 shares during the last quarter. Granite Bay Wealth Management LLC bought a new stake in Apple in the third quarter valued at approximately $461,021,000. Finally, Morgan Stanley boosted its holdings in Apple by 1.0% in the third quarter. Morgan Stanley now owns 206,732,960 shares of the iPhone maker’s stock valued at $35,394,751,000 after acquiring an additional 2,018,010 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors.

Insider Transactions at Apple

In other news, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $18,768,046.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Jeffrey E. Williams sold 59,162 shares of Apple stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $84,378,155.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $18,768,046.56. The disclosure for this sale can be found here. Insiders have sold 366,271 shares of company stock worth $63,653,887 in the last ninety days. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on AAPL shares. Loop Capital reduced their target price on Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a report on Monday, April 1st. Redburn Partners cut Apple to a “neutral” rating and set a $200.00 target price on the stock. in a report on Wednesday, January 10th. UBS Group reiterated a “hold” rating and issued a $190.00 target price on shares of Apple in a report on Monday, March 25th. Bank of America upgraded Apple from a “neutral” rating to a “buy” rating and upped their target price for the company from $208.00 to $225.00 in a report on Thursday, January 18th. Finally, Citigroup restated a “buy” rating and set a $225.00 price target on shares of Apple in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $203.05.

Apple Trading Up 1.3 %

NASDAQ AAPL opened at $169.02 on Thursday. The firm has a market capitalization of $2.61 trillion, a P/E ratio of 26.33, a PEG ratio of 2.00 and a beta of 1.27. The business has a fifty day simple moving average of $173.58 and a 200 day simple moving average of $181.94. Apple Inc. has a 12 month low of $162.80 and a 12 month high of $199.62. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.09. The business had revenue of $119.60 billion during the quarter, compared to analyst estimates of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. Apple’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.88 EPS. On average, analysts predict that Apple Inc. will post 6.54 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Friday, February 9th. Apple’s payout ratio is 14.95%.

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.