Capital Investment Advisory Services LLC Has $35.55 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Capital Investment Advisory Services LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 4.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 141,953 shares of the iPhone maker’s stock after selling 7,020 shares during the quarter. Apple makes up 3.4% of Capital Investment Advisory Services LLC’s holdings, making the stock its 2nd largest holding. Capital Investment Advisory Services LLC’s holdings in Apple were worth $35,548,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. High Net Worth Advisory Group LLC lifted its holdings in shares of Apple by 1.7% in the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after purchasing an additional 1,066 shares in the last quarter. Amara Financial LLC. acquired a new position in Apple during the third quarter valued at $288,000. Sterling Investment Counsel LLC lifted its stake in Apple by 3.8% in the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after acquiring an additional 2,565 shares in the last quarter. Silicon Valley Capital Partners boosted its position in Apple by 12.8% during the 3rd quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock worth $59,122,000 after acquiring an additional 28,799 shares during the period. Finally, Catalyst Financial Partners LLC grew its stake in Apple by 4.2% during the 3rd quarter. Catalyst Financial Partners LLC now owns 96,589 shares of the iPhone maker’s stock valued at $22,505,000 after acquiring an additional 3,935 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AAPL shares. Citigroup increased their price target on shares of Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Raymond James increased their target price on shares of Apple to $250.00 and gave the stock a “buy” rating in a research report on Monday, January 20th. Moffett Nathanson restated a “sell” rating and set a $188.00 price target (down from $202.00) on shares of Apple in a report on Tuesday, January 7th. Evercore ISI increased their price objective on Apple from $260.00 to $275.00 and gave the stock an “outperform” rating in a report on Tuesday, March 18th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Apple in a research note on Wednesday, February 19th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $243.65.

Apple Stock Performance

AAPL opened at $221.53 on Thursday. Apple Inc. has a 12-month low of $164.08 and a 12-month high of $260.10. The firm has a market capitalization of $3.33 trillion, a P/E ratio of 35.16, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. The stock’s 50 day moving average price is $231.03 and its two-hundred day moving average price is $233.35. 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 (NASDAQ:AAPL) last announced its 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%. On average, equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed 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 0.45%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio 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.