Alpha Financial Advisors LLC Cuts Stake in Apple Inc. (NASDAQ:AAPL)

Alpha Financial Advisors LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 6.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,638 shares of the iPhone maker’s stock after selling 189 shares during the quarter. Apple makes up approximately 0.3% of Alpha Financial Advisors LLC’s holdings, making the stock its 19th largest holding. Alpha Financial Advisors LLC’s holdings in Apple were worth $661,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. O Connor Financial Group LLC grew its holdings in Apple by 1.2% during the 4th quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock valued at $896,000 after buying an additional 41 shares in the last quarter. 1620 Investment Advisors Inc. boosted its position in shares of Apple by 0.5% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock valued at $2,249,000 after acquiring an additional 45 shares during the last quarter. Carolina Wealth Advisors LLC increased its position in Apple by 1.3% in the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock worth $813,000 after purchasing an additional 46 shares during the last quarter. Menard Financial Group LLC raised its stake in Apple by 0.4% during the third quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker’s stock valued at $2,848,000 after purchasing an additional 48 shares in the last quarter. Finally, Hanseatic Management Services Inc. lifted its position in Apple by 1.3% during the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker’s stock valued at $945,000 after purchasing an additional 48 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $214.00 on Tuesday. The firm has a 50 day moving average of $233.90 and a 200 day moving average of $233.71. 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 has a market capitalization of $3.21 trillion, a price-to-earnings ratio of 33.97, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. Apple Inc. has a 52 week low of $164.08 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, 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 given 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 yield of 0.47%. Apple’s payout ratio is 15.87%.

Analysts Set New Price Targets

AAPL has been the topic of several recent research reports. Maxim Group upped their target price on shares of Apple to $215.00 and gave the company a “hold” rating in a research report on Friday, February 21st. Wedbush restated an “outperform” rating and set a $325.00 price objective on shares of Apple in a research report on Friday. Evercore ISI lifted their target price on Apple to $260.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Sanford C. Bernstein increased their price target on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Loop Capital lowered shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective for the company. in a research note on Tuesday, January 21st. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.22.

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.