Burr Financial Services LLC Reduces Stock Position in Apple Inc. (NASDAQ:AAPL)

Burr Financial Services LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 29.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 15,451 shares of the iPhone maker’s stock after selling 6,562 shares during the period. Apple makes up approximately 2.6% of Burr Financial Services LLC’s holdings, making the stock its 8th biggest position. Burr Financial Services LLC’s holdings in Apple were worth $3,869,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of AAPL. Bull Oak Capital LLC boosted its holdings in shares of Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares during the period. Hershey Financial Advisers LLC bought a new position in Apple in the 2nd quarter worth $42,000. Christopher J. Hasenberg Inc lifted its position in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares during the last quarter. SPX Gestao de Recursos Ltda bought a new stake in Apple during the third quarter valued at about $71,000. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in shares of Apple in the third quarter valued at about $77,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction dated 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 owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Down 3.4 %

AAPL stock opened at $209.68 on Friday. The company has a market cap of $3.15 trillion, a price-to-earnings ratio of 33.28, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. The company has a fifty day moving average price of $235.12 and a 200 day moving average price of $233.83. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. Apple Inc. has a 12 month low of $164.08 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results 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 net margin of 24.30% and a return on equity of 160.83%. Sell-side analysts expect that Apple Inc. will post 7.28 earnings per share for the current 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 issued 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 0.48%. Apple’s dividend payout ratio (DPR) is 15.87%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, January 31st. TD Cowen restated a “buy” rating on shares of Apple in a research note on Tuesday, January 28th. Citigroup upped their target price on shares of Apple from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Monness Crespi & Hardt upped their target price on shares of Apple to $245.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, Redburn Partners set a $230.00 target price on shares of Apple in a research note on Friday, January 31st. Four equities 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $243.22.

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.