POM Investment Strategies LLC Sells 371 Shares of Apple Inc. (NASDAQ:AAPL)

POM Investment Strategies LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,848 shares of the iPhone maker’s stock after selling 371 shares during the quarter. Apple makes up 1.7% of POM Investment Strategies LLC’s portfolio, making the stock its 14th largest holding. POM Investment Strategies LLC’s holdings in Apple were worth $2,216,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AAPL. Drystone LLC acquired a new position in shares of Apple in the 4th quarter worth approximately $25,000. Bull Oak Capital LLC grew its position in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares during the period. SPX Gestao de Recursos Ltda bought a new stake in Apple in the third quarter valued at $71,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Apple during the third quarter valued at $77,000. Finally, ARK Investment Management LLC bought a new position in shares of Apple during the third quarter valued at $110,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Trading Up 4.1 %

NASDAQ:AAPL opened at $198.15 on Monday. The firm has a market capitalization of $2.98 trillion, a price-to-earnings ratio of 31.45, a PEG ratio of 2.44 and a beta of 1.26. Apple Inc. has a 1-year low of $164.08 and a 1-year high of $260.10. The business’s 50-day moving average price is $222.87 and its two-hundred day moving average price is $231.16. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share 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%. On average, equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.50%. Apple’s dividend payout ratio is presently 15.87%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $263.00 target price on shares of Apple in a research report on Thursday, April 3rd. Maxim Group lifted their target price on shares of Apple to $215.00 and gave the company a “hold” rating in a research note on Friday, February 21st. Moffett Nathanson restated a “sell” rating and set a $188.00 price target (down from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Oppenheimer cut Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Finally, Citigroup reissued a “buy” rating on shares of Apple in a research note on Wednesday, April 2nd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $240.26.

Insider Activity

In related news, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the sale, the chief operating officer now owns 390,059 shares of the company’s stock, valued at approximately $87,377,116.59. The trade was a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 3,280,295 shares of the company’s stock, valued at $733,637,976.75. This represents a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 182,451 shares of company stock worth $40,818,720 over the last quarter. 0.06% of the stock is currently owned by company insiders.

About Apple

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.