Apple Inc. (NASDAQ:AAPL) Shares Sold by Level Financial Advisors

Level Financial Advisors trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.0% in the fourth quarter, Holdings Channel reports. The fund owned 8,982 shares of the iPhone maker’s stock after selling 281 shares during the period. Apple accounts for about 0.8% of Level Financial Advisors’ portfolio, making the stock its 27th biggest position. Level Financial Advisors’ holdings in Apple were worth $2,249,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. O Connor Financial Group LLC increased its stake in Apple by 1.2% in the fourth quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock valued at $896,000 after purchasing an additional 41 shares during the last quarter. 1620 Investment Advisors Inc. grew its position in Apple by 0.5% during the third 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 period. Carolina Wealth Advisors LLC grew its position in Apple by 1.3% during the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after acquiring an additional 46 shares during the period. Menard Financial Group LLC grew its position 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 acquiring an additional 48 shares during the period. Finally, Hanseatic Management Services Inc. grew 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 acquiring an additional 48 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

Shares of AAPL stock opened at $218.27 on Friday. Apple Inc. has a 12-month low of $164.08 and a 12-month high of $260.10. The firm has a market capitalization of $3.28 trillion, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. The business has a 50 day simple moving average of $231.82 and a 200 day simple moving average of $233.26. 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 (NASDAQ:AAPL) last issued its quarterly earnings data 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 return on equity of 160.83% and a net margin of 24.30%. On average, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio (DPR) is 15.87%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AAPL. Needham & Company LLC reissued a “buy” rating and set a $260.00 price target on shares of Apple in a research report on Friday, January 31st. Moffett Nathanson reissued a “sell” rating and set a $188.00 price target (down previously from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Maxim Group boosted their price target on Apple to $215.00 and gave the company a “hold” rating in a research report on Friday, February 21st. UBS Group boosted their price target on Apple to $236.00 and gave the company a “hold” rating in a research report on Tuesday, February 25th. Finally, Barclays boosted their price target on Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Four 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 given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus 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.