Apple Inc. (NASDAQ:AAPL) Shares Sold by Summit Financial Strategies Inc.

Summit Financial Strategies Inc. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 69,809 shares of the iPhone maker’s stock after selling 442 shares during the period. Apple makes up approximately 1.9% of Summit Financial Strategies Inc.’s holdings, making the stock its 14th largest position. Summit Financial Strategies Inc.’s holdings in Apple were worth $17,482,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AAPL. Bull Oak Capital LLC boosted its holdings in shares of 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 acquiring an additional 111 shares in the last quarter. Christopher J. Hasenberg Inc lifted its position in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the period. SPX Gestao de Recursos Ltda purchased a new stake in Apple in the 3rd quarter valued at approximately $71,000. Teachers Insurance & Annuity Association of America acquired a new position in Apple during the 3rd quarter worth approximately $77,000. Finally, ARK Investment Management LLC purchased a new position in shares of Apple during the 3rd quarter worth approximately $110,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on AAPL. Barclays boosted their target price on shares of Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Loop Capital cut shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 target price for the company. in a report on Tuesday, January 21st. Citigroup boosted their price target on Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Wells Fargo & Company raised their price objective on Apple to $275.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Raymond James boosted their target price on Apple to $250.00 and gave the stock a “buy” rating in a research report on Monday, January 20th. Four investment 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $243.65.

Apple Stock Down 0.5 %

Shares of NASDAQ AAPL opened at $214.10 on Friday. 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 business has a 50-day moving average of $232.19 and a 200-day moving average of $233.33. The firm has a market capitalization of $3.22 trillion, a price-to-earnings ratio of 33.98, a PEG ratio of 2.44 and a beta of 1.18. Apple Inc. has a 12 month low of $164.08 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last announced 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%. Sell-side analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued 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 yield of 0.47%. Apple’s dividend payout ratio is presently 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.