Apple Inc. (NASDAQ:AAPL) Shares Sold by Axiom Financial Strategies LLC

Axiom Financial Strategies LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 10.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,258 shares of the iPhone maker’s stock after selling 398 shares during the quarter. Apple comprises approximately 0.5% of Axiom Financial Strategies LLC’s holdings, making the stock its 24th biggest holding. Axiom Financial Strategies LLC’s holdings in Apple were worth $816,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Tamar Securities LLC raised its holdings in shares of Apple by 0.3% during the 4th quarter. Tamar Securities LLC now owns 143,330 shares of the iPhone maker’s stock valued at $35,893,000 after buying an additional 430 shares during the period. Hutchens & Kramer Investment Management Group LLC grew its position in Apple by 3.2% in the fourth quarter. Hutchens & Kramer Investment Management Group LLC now owns 12,634 shares of the iPhone maker’s stock valued at $3,164,000 after acquiring an additional 388 shares in the last quarter. Proathlete Wealth Management LLC lifted its position in shares of Apple by 4.0% during the fourth quarter. Proathlete Wealth Management LLC now owns 3,952 shares of the iPhone maker’s stock worth $989,000 after purchasing an additional 151 shares in the last quarter. VCI Wealth Management LLC boosted its stake in shares of Apple by 5.5% in the fourth quarter. VCI Wealth Management LLC now owns 45,729 shares of the iPhone maker’s stock valued at $11,452,000 after purchasing an additional 2,394 shares during the period. Finally, Matrix Asset Advisors Inc. NY grew its holdings in Apple by 1.5% during the 4th quarter. Matrix Asset Advisors Inc. NY now owns 142,768 shares of the iPhone maker’s stock valued at $35,752,000 after purchasing an additional 2,161 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Up 1.9 %

Apple stock opened at $218.27 on Friday. Apple Inc. has a 52-week low of $164.08 and a 52-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. The firm has a market capitalization of $3.28 trillion, a price-to-earnings ratio of 34.65, a PEG ratio of 2.44 and a beta of 1.18. The firm has a 50-day moving average price of $231.82 and a two-hundred day moving average price of $233.33.

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 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%. Sell-side analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The firm also recently declared 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 0.46%. Apple’s payout ratio is 15.87%.

Analysts Set New Price Targets

A number of equities analysts have commented on AAPL shares. Monness Crespi & Hardt boosted their price objective on shares of Apple to $245.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. UBS Group boosted their price target on Apple to $236.00 and gave the stock a “hold” rating in a research note on Tuesday, February 25th. Evercore ISI raised their price objective on Apple from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Tuesday, March 18th. Needham & Company LLC restated a “buy” rating and set a $260.00 price objective on shares of Apple in a report on Friday, January 31st. Finally, Redburn Partners set a $230.00 target price on Apple in a research note on Friday, January 31st. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock 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.