Financial Advantage Inc. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 26.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Sage Financial Group Inc. acquired a new position in Apple in the fourth quarter valued at $36,000. CXI Advisors acquired a new position in Apple in the fourth quarter valued at $68,000. Kahn Brothers Group Inc. DE acquired a new position in Apple in the third quarter valued at $112,000. Fulcrum Equity Management acquired a new position in Apple in the third quarter valued at $135,000. Finally, Avondale Wealth Management boosted its holdings in Apple by 68.0% in the fourth quarter. Avondale Wealth Management now owns 531 shares of the iPhone maker’s stock valued at $156,000 after acquiring an additional 215 shares during the last quarter. Institutional investors and hedge funds own 60.28% of the company’s stock.
In other news, Director Arthur D. Levinson sold 1,429 shares of Apple stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $304.11, for a total transaction of $434,573.19. Following the sale, the director now directly owns 1,134,712 shares of the company’s stock, valued at $345,077,266.32. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.05% of the stock is currently owned by insiders.
AAPL has been the topic of a number of research analyst reports. Loop Capital reiterated a “hold” rating and issued a $325.00 target price on shares of Apple in a report on Wednesday, January 29th. KeyCorp reiterated a “hold” rating on shares of Apple in a report on Thursday, January 23rd. Raymond James lifted their target price on Apple from $280.00 to $360.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Bank of America lifted their target price on Apple from $340.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, Morgan Stanley lifted their target price on Apple from $296.00 to $368.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Three 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’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $314.55.
Shares of NASDAQ AAPL opened at $324.95 on Friday. Apple Inc. has a 1 year low of $169.38 and a 1 year high of $327.85. The firm has a market cap 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. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.56 and a current ratio of 1.60. The stock’s 50-day simple moving average is $310.86 and its 200-day simple moving average is $254.90.
Apple (NASDAQ:AAPL) last announced its earnings results 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. Apple had a return on equity of 60.19% and a net margin of 21.49%. The business had revenue of $91.80 billion for the quarter, compared to analyst estimates of $88.41 billion. During the same period in the previous year, the company earned $4.18 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, research analysts predict that Apple Inc. will post 13.78 EPS 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 given 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 of this dividend was Friday, February 7th. Apple’s payout ratio is 25.90%.
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: Equal Weight Rating
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