Symphony Financial Ltd. Co. Reduces Stock Position in Apple Inc. (NASDAQ:AAPL)
Symphony Financial Ltd. Co. lowered its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 4.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 76,531 shares of the iPhone maker’s stock after selling 3,903 shares during the quarter. Apple comprises approximately 3.0% of Symphony Financial Ltd. Co.’s investment portfolio, making the stock its 4th largest position. Symphony Financial Ltd. Co.’s holdings in Apple were worth $19,165,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. O Connor Financial Group LLC boosted its holdings in Apple by 1.2% during the 4th quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock valued at $896,000 after acquiring an additional 41 shares during the period. 1620 Investment Advisors Inc. lifted its position in shares of Apple by 0.5% during the third quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock worth $2,249,000 after purchasing an additional 45 shares during the last quarter. Carolina Wealth Advisors LLC lifted its position in shares of Apple by 1.3% during the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock worth $813,000 after purchasing an additional 46 shares during the last quarter. Menard Financial Group LLC boosted its stake in shares of 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 purchasing an additional 48 shares during the period. Finally, Hanseatic Management Services Inc. grew its holdings in shares of Apple by 1.3% in the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker’s stock worth $945,000 after purchasing an additional 48 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
AAPL has been the subject of a number of research analyst reports. Redburn Partners set a $230.00 price objective on shares of Apple in a report on Friday, January 31st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a research note on Wednesday, February 19th. Bank of America boosted their price target on Apple from $253.00 to $265.00 and gave the company a “buy” rating in a report on Friday, January 31st. Maxim Group raised their price objective on Apple to $215.00 and gave the stock a “hold” rating in a report on Friday, February 21st. Finally, Moffett Nathanson reiterated a “sell” rating and issued a $188.00 target price (down from $202.00) on shares of Apple in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $245.52.
View Our Latest Report on AAPL
Apple Trading Down 2.7 %
NASDAQ:AAPL opened at $217.90 on Friday. 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 firm has a fifty day simple moving average of $230.70 and a 200-day simple moving average of $233.35. Apple Inc. has a 12 month low of $164.08 and a 12 month high of $260.10. The company has a market capitalization of $3.27 trillion, a P/E ratio of 34.59, a PEG ratio of 2.44 and a beta of 1.18.
Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating 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%. On average, equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.
Apple Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were given a dividend of $0.25 per share. 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 is presently 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.
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