Financial Partners Group Inc lowered its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 1.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 104,745 shares of the iPhone maker’s stock after selling 1,969 shares during the period. Apple makes up approximately 3.8% of Financial Partners Group Inc’s investment portfolio, making the stock its 6th largest position. Financial Partners Group Inc’s holdings in Apple were worth $26,230,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. AMF Tjanstepension AB lifted its holdings in Apple by 21.1% during the 3rd quarter. AMF Tjanstepension AB now owns 3,380,064 shares of the iPhone maker’s stock worth $787,631,000 after buying an additional 588,427 shares in the last quarter. Crestmont Private Wealth LLC increased its position in shares of Apple by 4.8% during the third quarter. Crestmont Private Wealth LLC now owns 3,166 shares of the iPhone maker’s stock worth $738,000 after acquiring an additional 145 shares during the period. McCarthy & Cox raised its stake in shares of Apple by 3.9% in the third quarter. McCarthy & Cox now owns 1,767 shares of the iPhone maker’s stock valued at $412,000 after acquiring an additional 66 shares in the last quarter. Guardian Investment Management boosted its holdings in Apple by 7.2% in the third quarter. Guardian Investment Management now owns 98,729 shares of the iPhone maker’s stock valued at $23,004,000 after purchasing an additional 6,647 shares during the period. Finally, Bright Financial Advisors Inc. grew its stake in Apple by 1.0% during the 3rd quarter. Bright Financial Advisors Inc. now owns 16,767 shares of the iPhone maker’s stock worth $3,907,000 after purchasing an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.
Analyst Ratings Changes
Several brokerages have weighed in on AAPL. Barclays increased their price target on Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Apple in a research note on Friday, January 31st. Oppenheimer downgraded shares of Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Morgan Stanley lowered their price target on shares of Apple from $275.00 to $252.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Finally, Sanford C. Bernstein raised their price objective on shares of Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $245.52.
Read Our Latest Analysis on Apple
Apple Stock Up 0.5 %
Shares of NASDAQ:AAPL opened at $223.19 on Wednesday. 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 has a market cap of $3.35 trillion, a P/E ratio of 35.43, a P/E/G ratio of 2.44 and a beta of 1.18. The firm has a fifty day moving average price of $230.55 and a 200 day moving average price of $233.43.
Apple (NASDAQ:AAPL – Get Free Report) last announced its earnings results 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%. Sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current year.
Apple Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. Apple’s payout ratio is 15.87%.
Apple Company 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.
Read More
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL – Free Report).
Receive News & Ratings for Apple Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Apple and related companies with MarketBeat.com’s FREE daily email newsletter.