Apple Inc. (NASDAQ:AAPL) Stock Position Decreased by Davis Capital Management

Davis Capital Management trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,303 shares of the iPhone maker’s stock after selling 472 shares during the period. Apple makes up about 2.9% of Davis Capital Management’s investment portfolio, making the stock its 5th largest holding. Davis Capital Management’s holdings in Apple were worth $3,582,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AAPL. Bull Oak Capital LLC boosted its stake 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 purchased a new stake in Apple during the 2nd quarter valued at $42,000. Christopher J. Hasenberg Inc lifted its holdings in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after buying an additional 144 shares during the period. SPX Gestao de Recursos Ltda bought a new position in shares of Apple during the 3rd quarter valued at $71,000. Finally, Teachers Insurance & Annuity Association of America bought a new position in shares of Apple during the 3rd quarter valued at $77,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Argus raised Apple to a “strong-buy” rating in a report on Friday, January 31st. Morgan Stanley set a $275.00 price target on Apple in a report on Tuesday, February 11th. Loop Capital cut Apple from a “buy” rating to a “hold” rating and set a $230.00 price target on the stock. in a report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price target on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Barclays increased their price target on Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a report 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.88.

Insider Buying and Selling

In related 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 transaction, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Apple Trading Down 2.9 %

Shares of Apple stock opened at $220.84 on Wednesday. The firm has a market cap of $3.32 trillion, a price-to-earnings ratio of 35.05, a PEG ratio of 2.44 and a beta of 1.18. The business has a 50-day moving average price of $236.47 and a 200-day moving average price of $234.12. 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 Inc. has a twelve month low of $164.08 and a twelve month high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Apple’s payout ratio is 15.87%.

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.