Midwest Financial Group LLC Sells 1,151 Shares of Apple Inc. (NASDAQ:AAPL)

Midwest Financial Group LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 36,966 shares of the iPhone maker’s stock after selling 1,151 shares during the quarter. Apple accounts for about 5.3% of Midwest Financial Group LLC’s investment portfolio, making the stock its 3rd largest holding. Midwest Financial Group LLC’s holdings in Apple were worth $9,257,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bull Oak Capital LLC raised its stake in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the period. Christopher J. Hasenberg Inc raised its stake in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the period. SPX Gestao de Recursos Ltda purchased a new stake in shares of Apple during the third quarter valued at approximately $71,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Apple during the third quarter valued at approximately $77,000. Finally, ARK Investment Management LLC purchased a new stake in shares of Apple during the third quarter valued at approximately $110,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AAPL. Loop Capital lowered shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price target for the company. in a research note on Tuesday, January 21st. Maxim Group lifted their price target on shares of Apple to $215.00 and gave the stock a “hold” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. lifted their price target on shares of Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. The Goldman Sachs Group restated a “buy” rating on shares of Apple in a research note on Wednesday, February 19th. Finally, TD Cowen restated a “buy” rating on shares of Apple in a research note on Tuesday, January 28th. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $243.22.

Apple Stock Performance

AAPL stock opened at $213.49 on Monday. The company has a market capitalization of $3.21 trillion, a P/E ratio of 33.89, a PEG ratio of 2.44 and a beta of 1.18. The company has a 50-day simple moving average of $234.52 and a 200 day simple moving average of $233.82. Apple Inc. has a fifty-two week low of $164.08 and a fifty-two week high of $260.10. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping the consensus estimate 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 business also recently disclosed 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 0.47%. The ex-dividend date was Monday, February 10th. Apple’s payout ratio is currently 15.87%.

Apple 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.