Sterling Investment Counsel LLC Lowers Position in Apple Inc. (NASDAQ:AAPL)

Sterling Investment Counsel LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 46.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,219 shares of the iPhone maker’s stock after selling 32,605 shares during the period. Apple accounts for approximately 6.2% of Sterling Investment Counsel LLC’s portfolio, making the stock its 4th largest holding. Sterling Investment Counsel LLC’s holdings in Apple were worth $9,320,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AAPL. Sound Stewardship LLC raised its stake in Apple by 2.9% in the fourth quarter. Sound Stewardship LLC now owns 3,257 shares of the iPhone maker’s stock valued at $816,000 after purchasing an additional 91 shares in the last quarter. Warner Financial Inc. increased its holdings in shares of Apple by 19.8% in the 4th quarter. Warner Financial Inc. now owns 15,763 shares of the iPhone maker’s stock worth $3,947,000 after buying an additional 2,609 shares during the last quarter. Acorn Creek Capital LLC raised its position in shares of Apple by 3.1% during the 4th quarter. Acorn Creek Capital LLC now owns 18,577 shares of the iPhone maker’s stock valued at $4,652,000 after buying an additional 553 shares in the last quarter. Buffington Mohr McNeal lifted its holdings in shares of Apple by 7.9% during the 4th quarter. Buffington Mohr McNeal now owns 61,320 shares of the iPhone maker’s stock worth $15,356,000 after acquiring an additional 4,496 shares during the last quarter. Finally, FSC Wealth Advisors LLC grew its position in Apple by 1.7% in the fourth quarter. FSC Wealth Advisors LLC now owns 13,222 shares of the iPhone maker’s stock worth $3,311,000 after acquiring an additional 226 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Trading Up 1.9 %

AAPL opened at $218.27 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 stock has a market cap of $3.28 trillion, a PE ratio of 34.65, a PEG ratio of 2.44 and a beta of 1.18. The business has a 50 day moving average of $231.82 and a 200-day moving average of $233.33.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed 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 presently 15.87%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AAPL shares. Redburn Partners set a $230.00 price target on Apple in a research report on Friday, January 31st. Moffett Nathanson reiterated a “sell” rating and set a $188.00 price objective (down from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Oppenheimer lowered Apple from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. TD Cowen reiterated a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Finally, Raymond James increased their price objective on Apple to $250.00 and gave the company a “buy” rating in a research report on Monday, January 20th. Four 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $243.65.

Apple 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.