Apple Inc. (NASDAQ:AAPL) Stake Lessened by Armstrong Henry H Associates Inc.

Armstrong Henry H Associates Inc. reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.0% during the 4th quarter, HoldingsChannel reports. The fund owned 63,885 shares of the iPhone maker’s stock after selling 662 shares during the period. Apple accounts for 1.6% of Armstrong Henry H Associates Inc.’s portfolio, making the stock its 8th biggest position. Armstrong Henry H Associates Inc.’s holdings in Apple were worth $15,998,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the company. BCS Wealth Management boosted its stake in shares of Apple by 49.2% during the 4th quarter. BCS Wealth Management now owns 34,108 shares of the iPhone maker’s stock worth $8,541,000 after acquiring an additional 11,255 shares in the last quarter. Granite Bay Wealth Management LLC raised its holdings in Apple by 0.9% in the 4th quarter. Granite Bay Wealth Management LLC now owns 36,603 shares of the iPhone maker’s stock valued at $9,166,000 after acquiring an additional 310 shares during the last quarter. Tsfg LLC raised its holdings in Apple by 2.0% in the 4th quarter. Tsfg LLC now owns 54,933 shares of the iPhone maker’s stock valued at $13,756,000 after acquiring an additional 1,051 shares during the last quarter. PFW Advisors LLC acquired a new stake in Apple in the 4th quarter valued at about $6,247,000. Finally, Marion Wealth Management raised its holdings in Apple by 1.1% in the 4th quarter. Marion Wealth Management now owns 36,402 shares of the iPhone maker’s stock valued at $9,116,000 after acquiring an additional 400 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on AAPL shares. Jefferies Financial Group restated an “underperform” rating on shares of Apple in a report on Wednesday. JPMorgan Chase & Co. raised their price target on shares of Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. TD Cowen restated a “buy” rating on shares of Apple in a report on Tuesday, January 28th. KeyCorp restated an “underweight” rating and set a $200.00 price target on shares of Apple in a report on Friday, January 31st. Finally, StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.85.

Apple Stock Performance

Shares of AAPL stock opened at $245.55 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The firm has a fifty day moving average price of $240.47 and a 200 day moving average price of $232.88. The company has a market cap of $3.69 trillion, a P/E ratio of 38.98, a PEG ratio of 2.44 and a beta of 1.20. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping 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%. Sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. Apple’s payout ratio is currently 15.87%.

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.