Smith Chas P & Associates PA Cpas Trims Position in Apple Inc. (NASDAQ:AAPL)

Smith Chas P & Associates PA Cpas lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 498,964 shares of the iPhone maker’s stock after selling 8,211 shares during the period. Apple comprises 7.2% of Smith Chas P & Associates PA Cpas’ holdings, making the stock its largest holding. Smith Chas P & Associates PA Cpas’ holdings in Apple were worth $124,951,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Bull Oak Capital LLC lifted its holdings in Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares during the period. Christopher J. Hasenberg Inc raised its position in shares of 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 during the last quarter. SPX Gestao de Recursos Ltda acquired a new position in shares of Apple in the third quarter worth approximately $71,000. Teachers Insurance & Annuity Association of America bought a new stake in Apple in the third quarter valued at approximately $77,000. Finally, ARK Investment Management LLC acquired a new stake in Apple during the 3rd quarter valued at approximately $110,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AAPL shares. Wells Fargo & Company boosted their price target on shares of Apple to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. DA Davidson set a $290.00 price target on shares of Apple in a research report on Friday, January 31st. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price target on shares of Apple in a report on Friday, January 31st. Citigroup boosted their price target on Apple from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, Jefferies Financial Group reissued an “underperform” rating on shares of Apple in a research report on Wednesday, February 19th. Four equities 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $243.22.

Apple Stock Performance

Shares of AAPL opened at $214.00 on Tuesday. Apple Inc. has a 52-week low of $164.08 and a 52-week high of $260.10. The stock’s 50-day simple moving average is $233.90 and its 200 day simple moving average is $233.71. 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 capitalization of $3.21 trillion, a price-to-earnings ratio of 33.97, a price-to-earnings-growth 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, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company 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 0.47%. The ex-dividend date of this dividend was Monday, February 10th. 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.