Burr Financial Services LLC Has $3.87 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Burr Financial Services LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 29.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,451 shares of the iPhone maker’s stock after selling 6,562 shares during the quarter. Apple comprises approximately 2.6% of Burr Financial Services LLC’s investment portfolio, making the stock its 8th biggest position. Burr Financial Services LLC’s holdings in Apple were worth $3,869,000 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 the stock. Bull Oak Capital LLC raised its stake in Apple by 252.3% in the third 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 in the last quarter. Hershey Financial Advisers LLC acquired a new position in Apple during the second quarter worth about $42,000. SPX Gestao de Recursos Ltda acquired a new position in Apple during the third quarter worth about $71,000. Christopher J. Hasenberg Inc raised its stake in Apple by 88.9% during the third 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. Finally, Teachers Insurance & Annuity Association of America acquired a new position in Apple during the third quarter worth about $77,000. 67.73% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, COO Jeffrey E. Williams sold 100,000 shares of the company’s 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 of the company’s stock, valued at $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on AAPL. Evercore ISI boosted their target price on Apple to $260.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Monness Crespi & Hardt boosted their price target on Apple to $245.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Citigroup boosted their price target on Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Argus upgraded Apple to a “strong-buy” rating in a report on Friday, January 31st. Finally, Wedbush restated an “outperform” rating and set a $325.00 price target on shares of Apple in a report on Monday, March 3rd. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $243.22.

Apple Stock Performance

Shares of AAPL opened at $209.68 on Friday. 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 52-week low of $164.08 and a 52-week high of $260.10. The company has a 50-day simple moving average of $235.12 and a 200-day simple moving average of $233.83. The company has a market capitalization of $3.15 trillion, a PE ratio of 33.28, a P/E/G ratio of 2.44 and a beta of 1.18.

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

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio (DPR) is currently 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.