DT Investment Partners LLC Sells 9,718 Shares of Apple Inc. (NASDAQ:AAPL)

DT Investment Partners LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 18.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,912 shares of the iPhone maker’s stock after selling 9,718 shares during the quarter. Apple makes up about 0.9% of DT Investment Partners LLC’s investment portfolio, making the stock its 23rd largest holding. DT Investment Partners LLC’s holdings in Apple were worth $10,996,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. CFC Planning Co LLC purchased a new position in shares of Apple during the 4th quarter worth $6,205,000. Squire Investment Management Company LLC lifted its position in Apple by 7.5% during the fourth quarter. Squire Investment Management Company LLC now owns 6,371 shares of the iPhone maker’s stock valued at $1,595,000 after purchasing an additional 442 shares in the last quarter. Littlejohn Financial Services Inc. bought a new stake in Apple during the fourth quarter valued at about $2,164,000. Rooted Wealth Advisors Inc. grew its stake in shares of Apple by 2.4% during the 4th quarter. Rooted Wealth Advisors Inc. now owns 13,627 shares of the iPhone maker’s stock valued at $3,301,000 after acquiring an additional 316 shares during the period. Finally, Palacios Wealth Management LLC purchased a new stake in shares of Apple in the fourth quarter worth $3,092,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other news, COO Jeffrey E. Williams sold 35,493 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the sale, the chief operating officer now owns 390,059 shares in the company, valued at approximately $87,377,116.59. The trade was a 8.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the transaction, the senior vice president now directly owns 179,158 shares in the company, valued at approximately $40,072,269.86. The trade was a 17.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 182,451 shares of company stock valued at $40,818,720 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on AAPL. Raymond James raised their price target on Apple to $250.00 and gave the company a “buy” rating in a report on Friday, April 4th. Maxim Group boosted their price target on Apple to $215.00 and gave the stock a “hold” rating in a report on Friday, February 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 price objective on shares of Apple in a report on Monday, April 14th. Moffett Nathanson restated a “sell” rating and set a $188.00 target price (down previously from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Finally, Argus upgraded shares of Apple to a “strong-buy” rating in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $235.85.

Apple Stock Up 1.3 %

Shares of AAPL opened at $196.79 on Friday. The firm has a market capitalization of $2.96 trillion, a P/E ratio of 31.24, a P/E/G ratio of 2.44 and a beta of 1.26. Apple Inc. has a 12-month low of $164.08 and a 12-month high of $260.10. The firm has a fifty day moving average price of $219.65 and a 200-day moving average price of $230.08. 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 (EPS) for the quarter, beating 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%. Equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.51%. Apple’s payout ratio is currently 15.87%.

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.