Barnes Pettey Financial Advisors LLC Lowers Position in Apple Inc. (NASDAQ:AAPL)

Barnes Pettey Financial Advisors LLC trimmed its position 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 (SEC). The fund owned 7,132 shares of the iPhone maker’s stock after selling 146 shares during the quarter. Apple accounts for approximately 1.4% of Barnes Pettey Financial Advisors LLC’s portfolio, making the stock its 18th largest holding. Barnes Pettey Financial Advisors LLC’s holdings in Apple were worth $1,786,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Drystone LLC bought a new stake in Apple during the fourth quarter worth $25,000. Bull Oak Capital LLC increased its position 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 purchasing an additional 111 shares during the last quarter. Christopher J. Hasenberg Inc raised its stake in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the period. SPX Gestao de Recursos Ltda purchased a new position in shares of Apple in the 3rd quarter worth about $71,000. Finally, Teachers Insurance & Annuity Association of America bought a new position in Apple during the third quarter valued at about $77,000. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

AAPL has been the topic of several research reports. TD Cowen reaffirmed a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price target on shares of Apple in a report on Friday, January 31st. The Goldman Sachs Group reissued a “buy” rating on shares of Apple in a report on Wednesday, February 19th. Loop Capital lowered Apple from a “buy” rating to a “hold” rating and set a $230.00 target price on the stock. in a research note on Tuesday, January 21st. Finally, Barclays increased their price target on Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $243.65.

Apple Trading Down 1.0 %

Shares of AAPL opened at $221.53 on Thursday. 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 Inc. has a 1-year low of $164.08 and a 1-year high of $260.10. The company has a market capitalization of $3.33 trillion, a P/E ratio of 35.16, a P/E/G ratio of 2.44 and a beta of 1.18. The firm’s 50 day simple moving average is $231.03 and its 200 day simple moving average is $233.35.

Apple (NASDAQ:AAPL) last posted 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 net margin of 24.30% and a return on equity of 160.83%. Sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s payout ratio is currently 15.87%.

Apple 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.