Albion Financial Group UT cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,350 shares of the iPhone maker’s stock after selling 120 shares during the quarter. Apple accounts for about 3.9% of Albion Financial Group UT’s investment portfolio, making the stock its 3rd largest holding. Albion Financial Group UT’s holdings in Apple were worth $33,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of AAPL. Sage Financial Group Inc. purchased a new stake in Apple in the fourth quarter worth $36,000. CXI Advisors bought a new position in Apple in the 4th quarter worth $68,000. Kahn Brothers Group Inc. DE purchased a new stake in shares of Apple in the 3rd quarter worth about $112,000. Fulcrum Equity Management purchased a new stake in shares of Apple in the 3rd quarter worth about $135,000. Finally, Avondale Wealth Management lifted its position in shares of 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 during the period. Institutional investors and hedge funds own 60.28% of the company’s stock.
In related news, Director Arthur D. Levinson sold 1,429 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $304.11, for a total value of $434,573.19. Following the transaction, the director now directly owns 1,134,712 shares of the company’s stock, valued at approximately $345,077,266.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.05% of the stock is owned by insiders.
AAPL has been the topic of several research analyst reports. China Renaissance Securities started coverage on shares of Apple in a research report on Monday, December 9th. They set a “buy” rating and a $342.00 price target on the stock. Monness Crespi & Hardt raised their price objective on shares of Apple from $300.00 to $370.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Zacks Investment Research cut Apple from a “buy” rating to a “hold” rating and set a $373.00 price objective on the stock. in a research report on Thursday, January 30th. Cowen upped their target price on Apple from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Finally, Jefferies Financial Group upped their target price on Apple from $285.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, January 9th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $314.55.
Shares of AAPL stock opened at $324.95 on Friday. Apple Inc. has a one year low of $169.38 and a one year high of $327.85. The company’s 50-day moving average is $310.86 and its 200 day moving average is $254.90. The company has a market capitalization of $1,421.81 billion, a price-to-earnings ratio of 25.67, a price-to-earnings-growth ratio of 2.23 and a beta of 1.29. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.56 and a current ratio of 1.60.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, January 28th. The iPhone maker reported $4.99 earnings per share (EPS) for the quarter, topping the 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 for the quarter, compared to the consensus estimate of $88.41 billion. During the same quarter in the prior year, the firm posted $4.18 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. As a group, research analysts predict that Apple Inc. will post 13.75 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a $0.77 dividend. The ex-dividend date was Friday, February 7th. This represents a $3.08 dividend on an annualized basis and a yield of 0.95%. Apple’s payout ratio is currently 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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