Apple Inc. (NASDAQ:AAPL) Stake Lessened by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 64.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,624 shares of the iPhone maker’s stock after selling 35,415 shares during the period. Apple comprises approximately 2.2% of Strategic Financial Concepts LLC’s portfolio, making the stock its 12th biggest holding. Strategic Financial Concepts LLC’s holdings in Apple were worth $3,778,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kingdom Financial Group LLC. raised its holdings in shares of Apple by 5.5% during the third quarter. Kingdom Financial Group LLC. now owns 11,464 shares of the iPhone maker’s stock worth $1,963,000 after acquiring an additional 598 shares in the last quarter. RFG Advisory LLC raised its holdings in shares of Apple by 13.6% during the third quarter. RFG Advisory LLC now owns 172,823 shares of the iPhone maker’s stock worth $29,589,000 after acquiring an additional 20,737 shares in the last quarter. Headinvest LLC raised its holdings in Apple by 1.7% during the third quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock valued at $9,236,000 after buying an additional 872 shares in the last quarter. Tsfg LLC raised its holdings in Apple by 2.2% during the third quarter. Tsfg LLC now owns 50,943 shares of the iPhone maker’s stock valued at $8,722,000 after buying an additional 1,091 shares in the last quarter. Finally, Sound Income Strategies LLC raised its holdings in Apple by 16.1% during the fourth quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock valued at $14,461,000 after buying an additional 10,425 shares in the last quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the transaction, 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 hyperlink. In other news, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the transaction, the chief executive officer now owns 3,377,407 shares in the company, valued at $574,260,512.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction that occurred on 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 transaction, the director now owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 253,915 shares of company stock worth $44,202,868. Insiders own 0.06% of the company’s stock.

Apple Stock Up 0.9 %

Shares of AAPL opened at $176.55 on Monday. The stock has a market cap of $2.73 trillion, a price-to-earnings ratio of 27.50, a P/E/G ratio of 2.13 and a beta of 1.27. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. Apple Inc. has a 12 month low of $161.42 and a 12 month high of $199.62. The company has a 50-day moving average price of $176.70 and a two-hundred day moving average price of $182.31.

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

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s dividend payout ratio is 14.95%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. cut their target price on Apple from $215.00 to $210.00 and set an “overweight” rating on the stock in a report on Thursday. DA Davidson assumed coverage on Apple in a report on Wednesday, January 3rd. They set a “neutral” rating and a $166.00 target price on the stock. Citigroup restated a “buy” rating and set a $225.00 target price on shares of Apple in a report on Friday, February 16th. Barclays cut their target price on Apple from $160.00 to $158.00 and set an “underweight” rating on the stock in a report on Friday, February 2nd. Finally, Wedbush restated an “outperform” rating and set a $250.00 target price on shares of Apple in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $204.08.

Apple Company Profile

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.