Trademark Financial Management LLC Sells 58 Shares of Apple Inc. (NASDAQ:AAPL)

Trademark Financial Management LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 2.7% during the fourth quarter, HoldingsChannel reports. The fund owned 2,086 shares of the iPhone maker’s stock after selling 58 shares during the quarter. Trademark Financial Management LLC’s holdings in Apple were worth $522,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AAPL. Drystone LLC purchased a new position in shares of Apple in the fourth quarter worth $25,000. Bull Oak Capital LLC raised its stake in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares during the last quarter. Life Planning Partners Inc purchased a new position in Apple in the 4th quarter worth $47,000. SPX Gestao de Recursos Ltda acquired a new stake in Apple during the 3rd quarter worth about $71,000. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in Apple during the 3rd quarter valued at about $77,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the transaction, the chief operating officer now owns 390,059 shares of the company’s stock, valued at $87,377,116.59. This trade represents a 8.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Katherine L. Adams sold 38,822 shares of the company’s 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 sale, the senior vice president now directly owns 179,158 shares in the company, valued at $40,072,269.86. This represents a 17.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 182,451 shares of company stock valued at $40,818,720. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

AAPL has been the subject of a number of research reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, February 19th. 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 research note on Tuesday, April 8th. Needham & Company LLC reiterated a “buy” rating and issued a $225.00 price objective on shares of Apple in a research note on Monday, April 14th. Redburn Partners set a $230.00 target price on shares of Apple in a research report on Friday, January 31st. Finally, 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. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $235.85.

Apple Price Performance

NASDAQ:AAPL opened at $196.79 on Friday. Apple Inc. has a one year low of $164.77 and a one year high of $260.10. The stock has a market cap of $2.96 trillion, a PE ratio of 31.24, a P/E/G ratio of 2.44 and a beta of 1.26. The stock has a 50 day moving average price of $219.65 and a 200 day moving average price of $230.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (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%. Equities research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.51%. Apple’s payout ratio is presently 15.87%.

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.