Source Financial Advisors LLC Has $4.28 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Source Financial Advisors LLC reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 1.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 22,205 shares of the iPhone maker’s stock after selling 285 shares during the quarter. Apple makes up about 1.3% of Source Financial Advisors LLC’s portfolio, making the stock its 17th largest holding. Source Financial Advisors LLC’s holdings in Apple were worth $4,275,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. IFM Investors Pty Ltd increased its position in Apple by 20.0% in the 1st quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock valued at $456,728,000 after acquiring an additional 435,891 shares during the period. Ironwood Wealth Management LLC. boosted its stake in shares of Apple by 0.4% in the 1st quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock valued at $42,016,000 after purchasing an additional 1,040 shares during the last quarter. Markel Corp boosted its stake in shares of Apple by 0.7% in the 1st quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock valued at $210,752,000 after purchasing an additional 8,450 shares during the last quarter. Camden Capital LLC boosted its stake in shares of Apple by 9.2% in the 1st quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock valued at $27,305,000 after purchasing an additional 13,200 shares during the last quarter. Finally, Harbor Island Capital LLC boosted its stake in shares of Apple by 0.3% in the 1st quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock valued at $23,629,000 after purchasing an additional 400 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the completion of the sale, the director now owns 4,434,576 shares in the company, valued at $802,392,181.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Performance

Shares of AAPL stock opened at $173.31 on Thursday. The firm has a 50-day moving average of $181.68 and a 200-day moving average of $182.73. The company has a market cap of $2.68 trillion, a P/E ratio of 27.00, a P/E/G ratio of 2.06 and a beta of 1.29. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02. Apple Inc. has a one year low of $155.98 and a one year high of $199.62.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, beating the consensus estimate of $2.09 by $0.09. The company had revenue of $119.60 billion during the quarter, compared to the consensus estimate of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.88 earnings per share. Equities research analysts forecast that Apple Inc. will post 6.55 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were issued a $0.24 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.96 annualized dividend and a dividend yield of 0.55%. Apple’s dividend payout ratio is currently 14.95%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AAPL shares. Citigroup reaffirmed a “buy” rating and issued a $225.00 price objective on shares of Apple in a research note on Friday, February 16th. Wedbush reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of Apple in a research note on Thursday, March 21st. Barclays reduced their price objective on shares of Apple from $160.00 to $158.00 and set an “underweight” rating on the stock in a research note on Friday, February 2nd. Oppenheimer reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Apple in a research note on Friday, February 2nd. Finally, UBS Group reissued a “hold” rating and set a $190.00 target price on shares of Apple in a research note on Monday. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.27.

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.