Absher Wealth Management LLC lowered its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 7.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,344 shares of the iPhone maker’s stock after selling 7,939 shares during the quarter. Apple comprises about 3.1% of Absher Wealth Management LLC’s portfolio, making the stock its 17th biggest holding. Absher Wealth Management LLC’s holdings in Apple were worth $23,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently added to or reduced their stakes in the stock. AMF Tjanstepension AB raised its stake in shares of Apple by 21.1% in the third quarter. AMF Tjanstepension AB now owns 3,380,064 shares of the iPhone maker’s stock valued at $787,631,000 after acquiring an additional 588,427 shares in the last quarter. Brady Family Wealth LLC lifted its position in Apple by 1.1% in the third quarter. Brady Family Wealth LLC now owns 113,124 shares of the iPhone maker’s stock valued at $26,358,000 after acquiring an additional 1,177 shares during the last quarter. ERn Financial LLC grew its stake in Apple by 2.9% during the 3rd quarter. ERn Financial LLC now owns 42,986 shares of the iPhone maker’s stock worth $10,016,000 after buying an additional 1,220 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in Apple in the 3rd quarter valued at $6,297,000. Finally, Acorn Creek Capital LLC increased its position in Apple by 4.7% in the 3rd quarter. Acorn Creek Capital LLC now owns 18,024 shares of the iPhone maker’s stock valued at $4,200,000 after acquiring an additional 804 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.
Apple Price Performance
Shares of NASDAQ AAPL opened at $188.38 on Friday. The company has a market capitalization of $2.83 trillion, a price-to-earnings ratio of 29.90, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. Apple Inc. has a twelve month low of $164.08 and a twelve month high of $260.10. The business has a 50 day simple moving average of $229.45 and a 200-day simple moving average of $233.07. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.
Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. As a group, equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.
Apple Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s payout ratio is currently 15.87%.
Insider Activity at Apple
In other Apple news, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the transaction, the chief executive officer now directly owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. The trade was a 3.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the transaction, the senior vice president now directly owns 179,158 shares in the company, valued at approximately $40,072,269.86. This trade represents a 17.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 182,451 shares of company stock worth $40,818,720 over the last quarter. 0.06% of the stock is currently owned by company insiders.
Analyst Ratings Changes
AAPL has been the topic of several analyst reports. Argus raised shares of Apple to a “strong-buy” rating in a report on Friday, January 31st. Citigroup increased their target price on Apple from $255.00 to $275.00 and gave the company a “buy” rating in a report on Friday, January 31st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $263.00 target price on shares of Apple in a research note on Thursday. Evercore ISI boosted their target price on shares of Apple from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday, March 18th. Finally, Sanford C. Bernstein boosted their target price on Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $245.26.
View Our Latest Stock Report on AAPL
About Apple
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
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