Seelaus Asset Management LLC Sells 365 Shares of Apple Inc. (NASDAQ:AAPL)

Seelaus Asset Management LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,926 shares of the iPhone maker’s stock after selling 365 shares during the quarter. Apple comprises 8.2% of Seelaus Asset Management LLC’s investment portfolio, making the stock its biggest holding. Seelaus Asset Management LLC’s holdings in Apple were worth $8,997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Drystone LLC purchased a new position in Apple during the fourth quarter worth about $25,000. Bull Oak Capital LLC grew its holdings in Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the period. SPX Gestao de Recursos Ltda bought a new position in shares of Apple during the 3rd quarter worth $71,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Apple in the third quarter worth about $77,000. Finally, ARK Investment Management LLC purchased a new position in Apple in the 3rd quarter valued at approximately $110,000. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

AAPL opened at $190.42 on Friday. Apple Inc. has a 1-year low of $164.08 and a 1-year high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The stock’s 50 day simple moving average is $223.56 and its 200 day simple moving average is $231.33. The stock has a market cap of $2.86 trillion, a P/E ratio of 30.23, a P/E/G ratio of 2.44 and a beta of 1.26.

Apple (NASDAQ:AAPL) last released 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%. As a group, equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 0.53%. Apple’s payout ratio is 15.87%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Monness Crespi & Hardt upped their target price on shares of Apple to $245.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Argus upgraded Apple to a “strong-buy” rating in a research report on Friday, January 31st. Tigress Financial upped their price target on shares of Apple from $295.00 to $300.00 and gave the company a “strong-buy” rating in a research report on Thursday, April 3rd. Barclays raised their target price on shares of Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Finally, Rosenblatt Securities restated a “buy” rating and set a $263.00 price target on shares of Apple in a report on Thursday, April 3rd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $240.26.

Insider Activity

In other Apple news, SVP Katherine L. Adams sold 38,822 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the transaction, the senior vice president now owns 179,158 shares of the company’s stock, valued at $40,072,269.86. This trade represents a 17.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Timothy D. Cook sold 108,136 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the transaction, the chief executive officer now directly owns 3,280,295 shares of the company’s stock, valued at approximately $733,637,976.75. This trade represents a 3.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 182,451 shares of company stock valued at $40,818,720. Company insiders own 0.06% of the company’s stock.

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.