High Net Worth Advisory Group LLC Reduces Stock Holdings in Apple Inc. (NASDAQ:AAPL)

High Net Worth Advisory Group LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 4.2% in the 4th quarter, Holdings Channel reports. The fund owned 61,342 shares of the iPhone maker’s stock after selling 2,673 shares during the quarter. Apple accounts for about 4.3% of High Net Worth Advisory Group LLC’s investment portfolio, making the stock its 2nd biggest position. High Net Worth Advisory Group LLC’s holdings in Apple were worth $15,363,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. Amara Financial LLC. purchased a new stake in Apple during the 3rd quarter valued at about $288,000. Sterling Investment Counsel LLC lifted its stake in shares of Apple by 3.8% in the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after buying an additional 2,565 shares in the last quarter. Silicon Valley Capital Partners grew its holdings in shares of Apple by 12.8% during the third quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock valued at $59,122,000 after buying an additional 28,799 shares during the last quarter. Catalyst Financial Partners LLC increased its position in shares of Apple by 4.2% during the third quarter. Catalyst Financial Partners LLC now owns 96,589 shares of the iPhone maker’s stock valued at $22,505,000 after acquiring an additional 3,935 shares in the last quarter. Finally, CHICAGO TRUST Co NA raised its holdings in Apple by 15.2% in the 3rd quarter. CHICAGO TRUST Co NA now owns 149,219 shares of the iPhone maker’s stock worth $34,768,000 after acquiring an additional 19,670 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Up 1.2 %

Shares of AAPL stock opened at $215.24 on Thursday. The company has a market capitalization of $3.23 trillion, a price-to-earnings ratio of 34.17, a PEG ratio of 2.44 and a beta of 1.18. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The company’s fifty day moving average price is $232.76 and its 200-day moving average price is $233.47. Apple Inc. has a one year low of $164.08 and a one year high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors 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 yield of 0.46%. Apple’s dividend payout ratio is presently 15.87%.

Analyst Upgrades and Downgrades

Several brokerages have commented on AAPL. Wells Fargo & Company increased their target price on Apple to $275.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Monness Crespi & Hardt increased their price objective on Apple to $245.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Redburn Partners set a $230.00 target price on Apple in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their target price on shares of Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Moffett Nathanson reiterated a “sell” rating and issued a $188.00 price target (down from $202.00) on shares of Apple in a research note on Tuesday, January 7th. Four 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $243.65.

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.