Apple Inc. (NASDAQ:AAPL) Shares Sold by Charter Oak Capital Management LLC

Charter Oak Capital Management LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 79,499 shares of the iPhone maker’s stock after selling 1,606 shares during the quarter. Apple comprises 1.9% of Charter Oak Capital Management LLC’s portfolio, making the stock its 10th largest position. Charter Oak Capital Management LLC’s holdings in Apple were worth $19,908,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AAPL. Sound Stewardship LLC boosted its stake in Apple by 2.9% during the 4th quarter. Sound Stewardship LLC now owns 3,257 shares of the iPhone maker’s stock valued at $816,000 after purchasing an additional 91 shares during the period. Warner Financial Inc. boosted its position in shares of Apple by 19.8% during the fourth quarter. Warner Financial Inc. now owns 15,763 shares of the iPhone maker’s stock worth $3,947,000 after buying an additional 2,609 shares during the period. Acorn Creek Capital LLC boosted its position in shares of Apple by 3.1% during the fourth quarter. Acorn Creek Capital LLC now owns 18,577 shares of the iPhone maker’s stock worth $4,652,000 after buying an additional 553 shares during the period. Buffington Mohr McNeal grew its holdings in Apple by 7.9% in the 4th quarter. Buffington Mohr McNeal now owns 61,320 shares of the iPhone maker’s stock worth $15,356,000 after buying an additional 4,496 shares in the last quarter. Finally, FSC Wealth Advisors LLC increased its position in Apple by 1.7% in the 4th quarter. FSC Wealth Advisors LLC now owns 13,222 shares of the iPhone maker’s stock valued at $3,311,000 after acquiring an additional 226 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Up 1.9 %

Shares of Apple stock opened at $218.27 on Friday. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10. The company has a market cap of $3.28 trillion, a P/E ratio of 34.65, a P/E/G ratio of 2.44 and a beta of 1.18. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock has a 50-day moving average price of $231.82 and a 200 day moving average price of $233.33.

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 analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. As a group, analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio (DPR) is currently 15.87%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AAPL. TD Cowen reissued a “buy” rating on shares of Apple in a research note on Tuesday, January 28th. Evercore ISI increased their target price on shares of Apple from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Tuesday, March 18th. Morgan Stanley dropped their price target on shares of Apple from $275.00 to $252.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. Monness Crespi & Hardt increased their price objective on shares of Apple to $245.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Finally, Citigroup raised their price objective on shares of Apple from $255.00 to $275.00 and gave the company a “buy” rating 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 assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average price target of $243.65.

Apple Company Profile

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.