Bright Futures Wealth Management LLC. Sells 30,599 Shares of Apple Inc. (NASDAQ:AAPL)

Bright Futures Wealth Management LLC. reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 71.6% during the 4th quarter, HoldingsChannel reports. The fund owned 12,135 shares of the iPhone maker’s stock after selling 30,599 shares during the period. Apple accounts for 2.6% of Bright Futures Wealth Management LLC.’s holdings, making the stock its 10th biggest position. Bright Futures Wealth Management LLC.’s holdings in Apple were worth $2,905,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC raised its position in Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after acquiring an additional 93,886,664 shares in the last quarter. State Street Corp increased its stake in shares of Apple by 10.6% during the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after purchasing an additional 55,935,105 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Apple by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock valued at $77,542,863,000 after purchasing an additional 20,483,787 shares in the last quarter. FMR LLC increased its position in Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after buying an additional 18,224,005 shares during the last quarter. Finally, Strategic Financial Concepts LLC raised its holdings in Apple by 25,285.2% during the fourth quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker’s stock valued at $2,411,260,000 after buying an additional 9,590,933 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Up 1.3 %

Shares of NASDAQ:AAPL opened at $196.79 on Friday. Apple Inc. has a 12 month low of $164.08 and a 12 month high of $260.10. The firm has a market cap of $2.96 trillion, a P/E ratio of 31.24, a P/E/G ratio of 2.44 and a beta of 1.26. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The company’s 50-day moving average price is $219.65 and its two-hundred day moving average price is $230.08.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. As a group, research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared 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 0.51%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio is 15.87%.

Insider Buying and Selling

In other news, SVP Katherine L. Adams sold 38,822 shares of the stock in a transaction on Wednesday, April 2nd. The stock was 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 owns 179,158 shares of the company’s stock, valued at $40,072,269.86. This represents a 17.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the sale, the chief operating officer now directly owns 390,059 shares of the company’s stock, valued at approximately $87,377,116.59. This trade represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 182,451 shares of company stock worth $40,818,720 over the last three months. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AAPL shares. Wedbush cut their price objective on Apple from $325.00 to $250.00 and set an “outperform” rating on the stock in a research note on Monday, April 7th. Morgan Stanley decreased their price objective on shares of Apple from $252.00 to $220.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Tigress Financial lifted their target price on shares of Apple from $295.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Thursday, April 3rd. Barclays upped their price target on shares of Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Finally, Redburn Partners set a $230.00 price objective on Apple in a research report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $235.85.

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.