Cadinha & Co. LLC Cuts Stock Position in Apple Inc. (NASDAQ:AAPL)

Cadinha & Co. LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,099 shares of the iPhone maker’s stock after selling 626 shares during the period. Apple comprises about 0.9% of Cadinha & Co. LLC’s investment portfolio, making the stock its 25th biggest position. Cadinha & Co. LLC’s holdings in Apple were worth $5,534,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. O Connor Financial Group LLC raised its stake in shares of Apple by 1.2% during the 4th quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock worth $896,000 after acquiring an additional 41 shares in the last quarter. 1620 Investment Advisors Inc. boosted its stake in Apple by 0.5% in the third quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock valued at $2,249,000 after acquiring an additional 45 shares in the last quarter. Carolina Wealth Advisors LLC grew its holdings in Apple by 1.3% in 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 increased its position 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 worth $2,848,000 after purchasing an additional 48 shares in the last quarter. Finally, Hanseatic Management Services Inc. lifted its holdings in shares of Apple by 1.3% during the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker’s stock valued at $945,000 after purchasing an additional 48 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Stock Down 0.1 %

Shares of AAPL opened at $235.74 on Thursday. 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 market cap of $3.54 trillion, a P/E ratio of 37.42, a PEG ratio of 2.44 and a beta of 1.20. The stock’s 50 day moving average is $238.36 and its two-hundred day moving average is $233.93. Apple Inc. has a 12 month low of $164.08 and a 12 month high of $260.10.

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

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.42%. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Insider Activity at Apple

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the business’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 transaction of $24,997,000.00. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AAPL has been the topic of several research analyst reports. UBS Group boosted their target price on Apple to $236.00 and gave the stock a “hold” rating in a research note on Tuesday, February 25th. The Goldman Sachs Group restated a “buy” rating on shares of Apple in a research note on Wednesday, February 19th. Sanford C. Bernstein increased their price objective on shares of Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. TD Cowen reissued a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Finally, DA Davidson set a $290.00 price target on shares of Apple in a research note on Friday, January 31st. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $243.88.

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.