Hutchens & Kramer Investment Management Group LLC Trims Stake in Apple Inc. (NASDAQ:AAPL)

Hutchens & Kramer Investment Management Group LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 6.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,592 shares of the iPhone maker’s stock after selling 734 shares during the quarter. Apple accounts for about 1.4% of Hutchens & Kramer Investment Management Group LLC’s holdings, making the stock its 13th largest holding. Hutchens & Kramer Investment Management Group LLC’s holdings in Apple were worth $2,039,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kingdom Financial Group LLC. boosted its holdings in shares of Apple by 5.5% in the 3rd quarter. Kingdom Financial Group LLC. now owns 11,464 shares of the iPhone maker’s stock worth $1,963,000 after purchasing an additional 598 shares in the last quarter. RFG Advisory LLC boosted its holdings in Apple by 13.6% during the 3rd quarter. RFG Advisory LLC now owns 172,823 shares of the iPhone maker’s stock valued at $29,589,000 after acquiring an additional 20,737 shares during the period. Headinvest LLC boosted its holdings in Apple by 1.7% during the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock valued at $9,236,000 after acquiring an additional 872 shares during the period. Sound Income Strategies LLC boosted its holdings in Apple by 16.1% during the 4th quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock valued at $14,461,000 after acquiring an additional 10,425 shares during the period. Finally, DNB Asset Management AS boosted its holdings in Apple by 6.9% during the 4th quarter. DNB Asset Management AS now owns 4,307,068 shares of the iPhone maker’s stock valued at $829,240,000 after acquiring an additional 279,311 shares during the period. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Apple news, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $18,768,046.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Luca Maestri sold 53,194 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $174.12, for a total value of $9,262,139.28. Following the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $18,768,046.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 59,162 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $172.22, for a total value of $10,188,879.64. Following the completion of the transaction, the chief operating officer now owns 489,944 shares in the company, valued at $84,378,155.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 366,271 shares of company stock valued at $63,653,887. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AAPL shares. Morgan Stanley restated an “overweight” rating and set a $220.00 target price on shares of Apple in a report on Friday, March 22nd. Needham & Company LLC restated a “buy” rating and set a $220.00 target price on shares of Apple in a report on Tuesday. Robert W. Baird increased their target price on Apple from $186.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Piper Sandler Companies cut Apple to a “neutral” rating and dropped their target price for the company from $220.00 to $205.00 in a report on Thursday, January 4th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $200.00 price objective on shares of Apple in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.34.

Apple Stock Down 1.2 %

AAPL stock opened at $165.00 on Friday. Apple Inc. has a twelve month low of $162.80 and a twelve month high of $199.62. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. The firm has a market cap of $2.55 trillion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 2.03 and a beta of 1.27. The business has a 50 day moving average of $174.67 and a 200 day moving average of $182.04.

Apple (NASDAQ:AAPL) last posted its 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 business had revenue of $119.60 billion during the quarter, compared to analyst estimates of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.88 EPS. On average, research analysts forecast that Apple Inc. will post 6.54 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s payout ratio is 14.95%.

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.