Apple Inc. (NASDAQ:AAPL) Holdings Lessened by Eastover Investment Advisors LLC

Eastover Investment Advisors LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,660 shares of the iPhone maker’s stock after selling 1,107 shares during the period. Apple makes up 6.5% of Eastover Investment Advisors LLC’s portfolio, making the stock its 2nd largest holding. Eastover Investment Advisors LLC’s holdings in Apple were worth $13,938,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. 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. Hershey Financial Advisers LLC purchased a new stake in shares of Apple during the second quarter worth about $42,000. SPX Gestao de Recursos Ltda purchased a new position in shares of Apple in the third quarter worth $71,000. Christopher J. Hasenberg Inc grew its stake in Apple by 88.9% during 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. Finally, Teachers Insurance & Annuity Association of America purchased a new position in Apple during the 3rd quarter worth approximately $77,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Performance

NASDAQ AAPL opened at $245.83 on Friday. The company has a fifty day moving average of $240.52 and a two-hundred day moving average of $232.29. The company has a market capitalization of $3.69 trillion, a PE ratio of 39.02, a P/E/G ratio of 2.43 and a beta of 1.20. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating 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%. As a group, analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s payout ratio is 15.87%.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction dated Monday, December 16th. The shares were 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 directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on AAPL. Monness Crespi & Hardt raised their target price on Apple to $245.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Raymond James increased their price objective on Apple to $250.00 and gave the company a “buy” rating in a research note on Monday, January 20th. Rosenblatt Securities restated a “buy” rating and set a $262.00 target price on shares of Apple in a report on Monday, January 27th. JPMorgan Chase & Co. boosted their target price on shares of Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Argus upgraded shares of Apple to a “strong-buy” rating in a report on Friday, January 31st. Four investment 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 given a strong buy rating to the company. According to MarketBeat, the company currently 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.