Money Concepts Capital Corp Sells 5,507 Shares of Apple Inc. (NASDAQ:AAPL)

Money Concepts Capital Corp lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,804 shares of the iPhone maker’s stock after selling 5,507 shares during the quarter. Apple makes up about 2.1% of Money Concepts Capital Corp’s holdings, making the stock its 9th largest holding. Money Concepts Capital Corp’s holdings in Apple were worth $28,749,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Country Club Bank raised its position in shares of Apple by 1.6% in the fourth quarter. Country Club Bank now owns 146,130 shares of the iPhone maker’s stock valued at $36,854,000 after buying an additional 2,273 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Apple by 5.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,190,986 shares of the iPhone maker’s stock valued at $1,321,597,000 after acquiring an additional 280,049 shares in the last quarter. Virginia Wealth Management Group Inc. raised its holdings in Apple by 0.5% in the 4th quarter. Virginia Wealth Management Group Inc. now owns 21,618 shares of the iPhone maker’s stock valued at $5,414,000 after acquiring an additional 102 shares during the last quarter. Jericho Financial LLP purchased a new position in Apple in the 4th quarter worth approximately $7,657,000. Finally, Berkshire Money Management Inc. boosted its holdings in shares of Apple by 12.9% during the 4th quarter. Berkshire Money Management Inc. now owns 23,133 shares of the iPhone maker’s stock worth $5,793,000 after purchasing an additional 2,646 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Price Performance

AAPL stock opened at $188.38 on Friday. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10. The firm has a market capitalization of $2.83 trillion, a P/E ratio of 29.90, a P/E/G ratio of 2.44 and a beta of 1.18. 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 business’s 50-day moving average is $229.45 and its two-hundred day moving average is $232.96.

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

Apple Announces Dividend

The company 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. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.53%. Apple’s dividend payout ratio (DPR) is currently 15.87%.

Insider Buying and Selling

In other news, SVP Katherine L. Adams sold 38,822 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the sale, the senior vice president now owns 179,158 shares in the company, valued at approximately $40,072,269.86. The trade was a 17.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the transaction, the chief executive officer now directly owns 3,280,295 shares in the company, valued at $733,637,976.75. This trade represents a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 182,451 shares of company stock worth $40,818,720. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the subject of several recent research reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, February 19th. Evercore ISI lifted their price target on Apple from $260.00 to $275.00 and gave the stock an “outperform” rating in a report on Tuesday, March 18th. Morgan Stanley lowered their price target on shares of Apple from $275.00 to $252.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. TD Cowen reaffirmed a “buy” rating on shares of Apple in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. increased their price target on shares of Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $245.26.

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.