Apple Inc. (NASDAQ:AAPL) Shares Sold by Prospect Financial Services LLC

Prospect Financial Services LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 0.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,476 shares of the iPhone maker’s stock after selling 48 shares during the quarter. Apple makes up about 7.4% of Prospect Financial Services LLC’s portfolio, making the stock its 2nd biggest holding. Prospect Financial Services LLC’s holdings in Apple were worth $13,642,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Bull Oak Capital LLC boosted its position in shares of 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 acquiring an additional 111 shares during the last quarter. SPX Gestao de Recursos Ltda acquired a new position in shares of Apple during the 3rd quarter valued at about $71,000. Christopher J. Hasenberg Inc boosted its position 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 acquiring an additional 144 shares during the last quarter. Teachers Insurance & Annuity Association of America acquired a new position in shares of Apple during the 3rd quarter valued at about $77,000. Finally, ARK Investment Management LLC acquired a new position in shares of Apple during the 3rd quarter valued at about $110,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on AAPL. DA Davidson set a $290.00 target price on shares of Apple in a research report on Friday, January 31st. Raymond James upped their target price on shares of Apple to $250.00 and gave the company a “buy” rating in a research report on Monday, January 20th. Needham & Company LLC reissued a “buy” rating and set a $260.00 price target on shares of Apple in a research report on Friday, January 31st. UBS Group increased their price target on shares of Apple to $236.00 and gave the stock a “hold” rating in a research report on Tuesday, February 25th. Finally, Redburn Partners set a $230.00 price target on shares of Apple in a research report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $243.65.

Apple Price Performance

Shares of NASDAQ AAPL opened at $218.27 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The stock has a fifty day moving average price of $231.82 and a 200 day moving average price of $233.33. Apple Inc. has a 1-year low of $164.08 and a 1-year high of $260.10. The company has a market cap of $3.28 trillion, a PE ratio of 34.65, a P/E/G ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS 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 forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio (DPR) is currently 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.