Burt Wealth Advisors Sells 1,395 Shares of Apple Inc. (NASDAQ:AAPL)

Burt Wealth Advisors lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 4.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,436 shares of the iPhone maker’s stock after selling 1,395 shares during the period. Apple makes up 1.6% of Burt Wealth Advisors’ portfolio, making the stock its 16th biggest position. Burt Wealth Advisors’ holdings in Apple were worth $6,393,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAPL. Bull Oak Capital LLC lifted its holdings in 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. Hershey Financial Advisers LLC bought a new position in shares of Apple in the second quarter valued at approximately $42,000. Christopher J. Hasenberg Inc boosted its holdings in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares in the last quarter. ARK Investment Management LLC bought a new stake in Apple during the 3rd quarter worth approximately $110,000. Finally, Cordant Inc. increased its holdings in Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after purchasing an additional 173 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Trading Down 1.0 %

NASDAQ:AAPL opened at $234.40 on Tuesday. The business’s 50-day simple moving average is $240.43 and its 200-day simple moving average is $230.36. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market capitalization of $3.54 trillion, a PE ratio of 38.55, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the prior year, the company earned $1.46 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Sell-side analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is 16.45%.

Insider Activity

In related news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on AAPL. Wells Fargo & Company boosted their price objective on Apple to $275.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. New Street Research restated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research report on Wednesday, September 25th. Barclays upped their target price on shares of Apple to $184.00 and gave the stock a “sell” rating in a research report on Friday. Citigroup raised their price target on shares of Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Rosenblatt Securities upped their price objective on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.85.

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.