Apple Inc. (NASDAQ:AAPL) is Cadent Capital Advisors LLC’s 8th Largest Position

Cadent Capital Advisors LLC cut its position in Apple Inc. (NASDAQ:AAPL) by 0.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,086 shares of the iPhone maker’s stock after selling 61 shares during the period. Apple comprises 3.6% of Cadent Capital Advisors LLC’s portfolio, making the stock its 8th largest holding. Cadent Capital Advisors LLC’s holdings in Apple were worth $10,289,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Counterweight Ventures LLC lifted its holdings in shares of Apple by 2.3% in the 2nd quarter. Counterweight Ventures LLC now owns 30,531 shares of the iPhone maker’s stock worth $6,430,000 after acquiring an additional 672 shares during the last quarter. Kerusso Capital Management LLC purchased a new position in Apple in the 2nd quarter worth about $3,907,000. Financial Gravity Asset Management Inc. increased its position in Apple by 27.4% during the 2nd quarter. Financial Gravity Asset Management Inc. now owns 16,991 shares of the iPhone maker’s stock valued at $3,578,000 after purchasing an additional 3,658 shares during the period. Lynch & Associates IN increased its position in Apple by 3.1% during the 2nd quarter. Lynch & Associates IN now owns 47,860 shares of the iPhone maker’s stock valued at $10,080,000 after purchasing an additional 1,442 shares during the period. Finally, Caprock Group LLC increased its position in Apple by 41.5% during the 2nd quarter. Caprock Group LLC now owns 424,428 shares of the iPhone maker’s stock valued at $89,393,000 after purchasing an additional 124,488 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AAPL. Sanford C. Bernstein lifted their price objective on shares of Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Maxim Group lifted their price objective on shares of Apple to $215.00 and gave the company a “hold” rating in a research note on Friday. TD Cowen reiterated a “buy” rating on shares of Apple in a research note on Tuesday, January 28th. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Apple in a research note on Friday, January 31st. Finally, Raymond James boosted their price target on shares of Apple to $250.00 and gave the stock a “buy” rating in a report on Monday, January 20th. Four 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 company’s stock. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $242.52.

Insider Buying and Selling at Apple

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is owned by company insiders.

Apple Trading Down 0.1 %

Shares of AAPL stock opened at $245.55 on Friday. The stock has a market cap of $3.69 trillion, a P/E ratio of 38.98, a P/E/G ratio of 2.43 and a beta of 1.20. The business has a fifty day simple moving average of $240.47 and a 200-day simple moving average of $232.55. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

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

Apple Announces Dividend

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

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.