Falcon Wealth Planning Sells 31,611 Shares of Apple Inc. (NASDAQ:AAPL)

Falcon Wealth Planning lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 11.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 237,826 shares of the iPhone maker’s stock after selling 31,611 shares during the period. Apple comprises 6.6% of Falcon Wealth Planning’s holdings, making the stock its 3rd largest holding. Falcon Wealth Planning’s holdings in Apple were worth $59,556,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of AAPL. Bull Oak Capital LLC increased its position 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 period. Christopher J. Hasenberg Inc boosted its stake in shares of Apple by 88.9% in the 3rd 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 last quarter. SPX Gestao de Recursos Ltda acquired a new stake in shares of Apple during the third quarter worth $71,000. Teachers Insurance & Annuity Association of America bought a new position in Apple during the third quarter worth $77,000. Finally, ARK Investment Management LLC acquired a new position in Apple in the third quarter valued at $110,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Up 1.9 %

AAPL stock opened at $218.27 on Friday. The stock has a market cap of $3.28 trillion, a P/E ratio of 34.65, a P/E/G ratio of 2.44 and a beta of 1.18. 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 stock’s fifty day simple moving average is $231.82 and its two-hundred day simple moving average is $233.33. Apple Inc. has a 1-year low of $164.08 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share 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%. Analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The business also recently announced 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio is currently 15.87%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AAPL. Morgan Stanley lowered their price objective on Apple from $275.00 to $252.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. Wedbush reissued an “outperform” rating and issued a $325.00 price target on shares of Apple in a research note on Friday, March 14th. Citigroup increased 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. Oppenheimer downgraded shares of Apple from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. Finally, Needham & Company LLC restated a “buy” rating and issued a $260.00 price target on shares of Apple in a report on Friday, January 31st. Four 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $243.65.

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.