Smith Chas P & Associates PA Cpas Decreases Position in Apple Inc. (NASDAQ:AAPL)

Smith Chas P & Associates PA Cpas cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 498,964 shares of the iPhone maker’s stock after selling 8,211 shares during the quarter. Apple accounts for about 7.2% of Smith Chas P & Associates PA Cpas’ holdings, making the stock its biggest holding. Smith Chas P & Associates PA Cpas’ holdings in Apple were worth $124,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bull Oak Capital LLC raised 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 valued at $36,000 after buying an additional 111 shares in the last quarter. SPX Gestao de Recursos Ltda bought a new position in Apple during the third quarter valued at approximately $71,000. 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 worth $69,000 after acquiring an additional 144 shares in the last quarter. Teachers Insurance & Annuity Association of America bought a new stake in shares of Apple in the 3rd quarter worth approximately $77,000. Finally, ARK Investment Management LLC purchased a new stake in shares of Apple in the 3rd quarter valued at $110,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AAPL. Maxim Group boosted 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. UBS Group increased their target price on Apple to $236.00 and gave the company a “hold” rating in a report on Tuesday, February 25th. Oppenheimer cut Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Wedbush reissued an “outperform” rating and set a $325.00 price objective on shares of Apple in a research note on Friday. Finally, Jefferies Financial Group reaffirmed an “underperform” rating on shares of Apple in a research note on Wednesday, February 19th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $243.22.

Apple Stock Up 0.2 %

AAPL stock opened at $214.00 on Tuesday. The business has a 50 day moving average of $233.90 and a 200 day moving average of $233.71. The firm has a market cap of $3.21 trillion, a PE ratio of 33.97, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. Apple Inc. has a twelve month low of $164.08 and a twelve month 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 results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (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, research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 0.47%. Apple’s dividend payout ratio is presently 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.