Pacific Center for Financial Services Trims Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Pacific Center for Financial Services trimmed its position in Apple Inc. (NASDAQ:AAPL) by 1.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,498 shares of the iPhone maker’s stock after selling 565 shares during the period. Apple accounts for 2.2% of Pacific Center for Financial Services’ investment portfolio, making the stock its 12th biggest position. Pacific Center for Financial Services’ holdings in Apple were worth $8,271,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Heritage Family Offices LLP bought a new stake in Apple in the second quarter worth $3,331,000. Auxano Advisors LLC raised its holdings in Apple by 22.3% in the 2nd quarter. Auxano Advisors LLC now owns 142,290 shares of the iPhone maker’s stock worth $29,969,000 after purchasing an additional 25,949 shares in the last quarter. Ritholtz Wealth Management raised its holdings in Apple by 5.8% in the 2nd quarter. Ritholtz Wealth Management now owns 473,925 shares of the iPhone maker’s stock worth $99,818,000 after purchasing an additional 25,984 shares in the last quarter. Glassy Mountain Advisors Inc. increased its stake in shares of Apple by 1.8% in the 2nd quarter. Glassy Mountain Advisors Inc. now owns 76,881 shares of the iPhone maker’s stock worth $16,193,000 after acquiring an additional 1,368 shares in the last quarter. Finally, Obermeyer Wood Investment Counsel Lllp increased its stake in shares of Apple by 1.1% in the 2nd quarter. Obermeyer Wood Investment Counsel Lllp now owns 374,661 shares of the iPhone maker’s stock worth $78,911,000 after acquiring an additional 3,907 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Stock Up 2.2 %

Shares of AAPL opened at $232.62 on Wednesday. The firm has a market capitalization of $3.49 trillion, a P/E ratio of 36.92, a P/E/G ratio of 2.32 and a beta of 1.20. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10. 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 firm has a fifty day moving average price of $241.02 and a 200-day moving average price of $231.20.

Apple (NASDAQ:AAPL) last released its quarterly earnings data 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%. Equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 13th. Shareholders of record on Monday, February 10th will be issued a $0.25 dividend. The ex-dividend date is Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. Apple’s dividend payout ratio is presently 15.87%.

Insider Activity

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on AAPL shares. Argus upgraded shares of Apple to a “strong-buy” rating in a research note on Friday, January 31st. Loop Capital downgraded shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective on the stock. in a report on Tuesday, January 21st. Moffett Nathanson restated a “sell” rating and set a $188.00 target price (down previously from $202.00) on shares of Apple in a research note on Tuesday, January 7th. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Sanford C. Bernstein lifted their price objective on shares of Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $242.52.

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.