Financial Advantage Inc. Reduces Stake in Apple Inc. (NASDAQ:AAPL)

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Financial Advantage Inc. lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 26.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 794 shares of the iPhone maker’s stock after selling 280 shares during the quarter. Financial Advantage Inc.’s holdings in Apple were worth $233,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AAPL. Johanson Financial Advisors Inc. increased its holdings in shares of Apple by 29,161.0% in the 4th quarter. Johanson Financial Advisors Inc. now owns 16,895,866 shares of the iPhone maker’s stock valued at $57,543,000 after acquiring an additional 16,838,124 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Apple by 28.2% in the 3rd quarter. California Public Employees Retirement System now owns 10,844,434 shares of the iPhone maker’s stock valued at $2,428,828,000 after acquiring an additional 2,382,156 shares during the last quarter. Artemis Investment Management LLP increased its holdings in shares of Apple by 300.3% in the 4th quarter. Artemis Investment Management LLP now owns 1,066,679 shares of the iPhone maker’s stock valued at $312,813,000 after acquiring an additional 800,232 shares during the last quarter. Sanders Capital LLC boosted its position in shares of Apple by 7.8% in the 4th quarter. Sanders Capital LLC now owns 8,787,007 shares of the iPhone maker’s stock valued at $2,855,898,000 after purchasing an additional 633,366 shares during the period. Finally, Voya Investment Management LLC boosted its position in shares of Apple by 10.3% in the 3rd quarter. Voya Investment Management LLC now owns 5,320,034 shares of the iPhone maker’s stock valued at $1,191,529,000 after purchasing an additional 494,862 shares during the period. Institutional investors and hedge funds own 60.28% of the company’s stock.

A number of analysts recently issued reports on AAPL shares. Jefferies Financial Group upped their target price on Apple from $285.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, January 9th. Argus reissued a “buy” rating and issued a $350.00 target price (up from $300.00) on shares of Apple in a research report on Friday, January 10th. BidaskClub cut Apple from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 4th. Nomura upped their target price on Apple from $280.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Finally, Barclays upped their target price on Apple from $224.00 to $236.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Three investment 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. The company has an average rating of “Buy” and an average price target of $314.55.

In other news, Director Arthur D. Levinson sold 1,429 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $304.11, for a total transaction of $434,573.19. Following the completion of the transaction, the director now directly owns 1,134,712 shares of the company’s stock, valued at approximately $345,077,266.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.05% of the company’s stock.

Apple stock opened at $324.95 on Friday. Apple Inc. has a twelve month low of $169.38 and a twelve month high of $327.85. The stock has a 50 day moving average of $310.86 and a two-hundred day moving average 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. The stock has a market capitalization of $1,421.46 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 2.25 and a beta of 1.29.

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 analysts’ consensus estimates of $4.54 by $0.45. The business had revenue of $91.80 billion during the quarter, compared to the consensus estimate of $88.41 billion. Apple had a return on equity of 60.19% and a net margin of 21.49%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $4.18 EPS. Equities analysts predict that Apple Inc. will post 13.78 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Friday, February 7th. Apple’s dividend payout ratio (DPR) 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.

Further Reading: What is a back-end load?

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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