Rehmann Capital Advisory Group Sells 4,517 Shares of Apple Inc. (NASDAQ:AAPL)

Rehmann Capital Advisory Group trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 163,414 shares of the iPhone maker’s stock after selling 4,517 shares during the period. Apple accounts for 2.5% of Rehmann Capital Advisory Group’s investment portfolio, making the stock its 4th biggest holding. Rehmann Capital Advisory Group’s holdings in Apple were worth $38,081,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. International Assets Investment Management LLC grew its position in Apple by 20,372.7% during the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after purchasing an additional 93,886,664 shares in the last quarter. State Street Corp boosted its stake in shares of Apple by 10.6% during the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock valued at $136,074,372,000 after buying an additional 55,935,105 shares during the period. Geode Capital Management LLC boosted its stake in shares of Apple by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock valued at $77,542,863,000 after buying an additional 20,483,787 shares during the period. FMR LLC boosted its stake in shares of Apple by 5.3% during the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock valued at $84,779,231,000 after buying an additional 18,224,005 shares during the period. Finally, Strategic Financial Concepts LLC boosted its stake in shares of Apple by 14,145.8% during the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after buying an additional 7,558,826 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Price Performance

Shares of AAPL stock opened at $241.53 on Friday. The firm’s 50 day moving average price is $240.70 and its two-hundred day moving average price is $231.34. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The stock has a market cap of $3.63 trillion, a PE ratio of 38.34, a PEG ratio of 2.32 and a beta of 1.20. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping the consensus estimate 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 forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.41%. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Apple from $273.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Jefferies Financial Group lowered shares of Apple from a “hold” rating to an “underperform” rating and reduced their price objective for the company from $211.84 to $200.75 in a research note on Thursday, January 30th. Loop Capital lowered shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective for the company. in a research note on Tuesday, January 21st. Wedbush reaffirmed an “outperform” rating and issued a $325.00 price objective on shares of Apple in a research note on Thursday, January 23rd. Finally, Evercore ISI lifted their price objective on shares of Apple from $250.00 to $260.00 and gave the company an “outperform” 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 issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $242.52.

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.