Financial Advisory Service Inc. lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 7.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,703 shares of the iPhone maker’s stock after selling 1,872 shares during the period. Apple accounts for approximately 1.1% of Financial Advisory Service Inc.’s holdings, making the stock its 21st biggest position. Financial Advisory Service Inc.’s holdings in Apple were worth $6,373,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the company. Sage Financial Group Inc. bought a new position in Apple in the 4th quarter worth about $36,000. CXI Advisors bought a new position in Apple in the 4th quarter worth about $68,000. Kahn Brothers Group Inc. DE bought a new position in Apple in the 3rd quarter worth about $112,000. Fulcrum Equity Management bought a new position in Apple in the 3rd quarter worth about $135,000. Finally, Avondale Wealth Management boosted its stake in Apple by 68.0% in the 4th quarter. Avondale Wealth Management now owns 531 shares of the iPhone maker’s stock worth $156,000 after purchasing an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 60.28% of the company’s stock.
A number of brokerages recently issued reports on AAPL. JPMorgan Chase & Co. upped their price target on shares of Apple from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Evercore ISI started coverage on Apple in a research report on Friday, February 7th. They issued a “buy” rating and a $365.00 target price for the company. China Renaissance Securities started coverage on Apple in a research report on Monday, December 9th. They issued a “buy” rating and a $342.00 target price for the company. BidaskClub lowered Apple from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada boosted their target price on Apple from $330.00 to $358.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have assigned a buy rating to the company. Apple presently has a consensus rating of “Buy” and an average target price of $314.55.
NASDAQ AAPL opened at $324.95 on Friday. Apple Inc. has a 52 week low of $169.38 and a 52 week high of $327.85. The firm has a market capitalization of $1,421.46 billion, a P/E ratio of 25.66, a PEG ratio of 2.25 and a beta of 1.29. The company has a quick ratio of 1.56, a current ratio of 1.60 and a debt-to-equity ratio of 1.04. The company has a 50-day moving average price of $310.86 and a 200-day moving average price of $254.90.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, January 28th. The iPhone maker reported $4.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.54 by $0.45. Apple had a net margin of 21.49% and a return on equity of 60.19%. The firm had revenue of $91.80 billion during the quarter, compared to analyst estimates of $88.41 billion. During the same quarter in the prior year, the firm earned $4.18 EPS. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Apple Inc. will post 13.78 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 0.95%. The ex-dividend date was Friday, February 7th. Apple’s dividend payout ratio is 25.90%.
Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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