Martin Capital Partners LLC trimmed its position in Apple Inc. (NASDAQ:AAPL) by 27.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,975 shares of the iPhone maker’s stock after selling 5,992 shares during the period. Apple makes up about 2.8% of Martin Capital Partners LLC’s portfolio, making the stock its 11th largest holding. Martin Capital Partners LLC’s holdings in Apple were worth $4,691,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MV Capital Management Inc. raised its stake in Apple by 0.3% during the 3rd quarter. MV Capital Management Inc. now owns 12,671 shares of the iPhone maker’s stock valued at $2,838,000 after purchasing an additional 35 shares during the period. Searcy Financial Services Inc. ADV raised its stake in Apple by 3.3% during the 4th quarter. Searcy Financial Services Inc. ADV now owns 1,202 shares of the iPhone maker’s stock valued at $353,000 after purchasing an additional 38 shares during the period. Concentrum Wealth Management raised its stake in Apple by 0.4% during the 4th quarter. Concentrum Wealth Management now owns 10,572 shares of the iPhone maker’s stock valued at $3,104,000 after purchasing an additional 40 shares during the period. Towerpoint Wealth LLC raised its stake in Apple by 1.8% during the 4th quarter. Towerpoint Wealth LLC now owns 2,451 shares of the iPhone maker’s stock valued at $720,000 after purchasing an additional 43 shares during the period. Finally, Asset Advisors Investment Management LLC raised its stake in Apple by 2.6% during the 4th quarter. Asset Advisors Investment Management LLC now owns 1,769 shares of the iPhone maker’s stock valued at $553,000 after purchasing an additional 44 shares during the period. Hedge funds and other institutional investors own 60.28% of the company’s stock.
Shares of NASDAQ:AAPL opened at $324.95 on Friday. The stock has a market capitalization of $1,421.46 billion, a PE ratio of 25.66, a P/E/G ratio of 2.25 and a beta of 1.29. Apple Inc. has a 1 year low of $169.38 and a 1 year high of $327.85. The firm has a fifty day moving average price of $310.86 and a 200 day moving average price of $254.90. The company has a current ratio of 1.60, a quick ratio of 1.56 and a debt-to-equity ratio of 1.04.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, January 28th. The iPhone maker reported $4.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.54 by $0.45. The firm had revenue of $91.80 billion during the quarter, compared to analysts’ expectations of $88.41 billion. Apple had a net margin of 21.49% and a return on equity of 60.19%. Apple’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $4.18 earnings per share. On average, sell-side analysts forecast that Apple Inc. will post 13.78 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Friday, February 7th. Apple’s dividend payout ratio (DPR) is 25.90%.
In other Apple news, Director Arthur D. Levinson sold 1,429 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $304.11, for a total transaction of $434,573.19. Following the completion of the sale, the director now directly owns 1,134,712 shares in the company, valued at $345,077,266.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.05% of the stock is owned by corporate insiders.
AAPL has been the topic of several recent analyst reports. Deutsche Bank reissued a “neutral” rating and set a $305.00 target price on shares of Apple in a research note on Monday, February 3rd. Credit Suisse Group upped their price target on shares of Apple to $275.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. They noted that the move was a valuation call. Robert W. Baird upped their price target on shares of Apple from $275.00 to $360.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Rosenblatt Securities upped their price target on shares of Apple from $150.00 to $250.00 and gave the stock a “sell” rating in a research note on Friday, January 24th. Finally, Cascend Securities upped their price target on shares of Apple from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $314.55.
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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