KMG Fiduciary Partners LLC Sells 1,964 Shares of Apple Inc. (NASDAQ:AAPL)

KMG Fiduciary Partners LLC reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 276,782 shares of the iPhone maker’s stock after selling 1,964 shares during the period. Apple accounts for about 5.7% of KMG Fiduciary Partners LLC’s portfolio, making the stock its largest holding. KMG Fiduciary Partners LLC’s holdings in Apple were worth $69,312,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. O Connor Financial Group LLC boosted its holdings in Apple by 1.2% in the fourth quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock worth $896,000 after purchasing an additional 41 shares during the last quarter. 1620 Investment Advisors Inc. boosted its holdings in Apple by 0.5% in the third quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock worth $2,249,000 after purchasing an additional 45 shares during the last quarter. Carolina Wealth Advisors LLC boosted its holdings in Apple by 1.3% in the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock worth $813,000 after purchasing an additional 46 shares during the last quarter. Menard Financial Group LLC boosted its holdings in Apple by 0.4% in the third quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker’s stock worth $2,848,000 after purchasing an additional 48 shares during the last quarter. Finally, Latitude Advisors LLC boosted its holdings in Apple by 0.3% in the third quarter. Latitude Advisors LLC now owns 17,236 shares of the iPhone maker’s stock worth $4,016,000 after purchasing an additional 50 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Up 1.9 %

AAPL opened at $241.76 on Friday. The business has a 50 day moving average price of $239.60 and a 200 day moving average price of $233.67. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The firm has a market cap of $3.63 trillion, a P/E ratio of 38.37, a price-to-earnings-growth ratio of 2.44 and a beta of 1.20.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio (DPR) is 15.87%.

Insider Buying and Selling at Apple

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction 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 directly owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on AAPL. Citigroup raised their target price on shares of Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Redburn Partners set a $230.00 price target on shares of Apple in a research note on Friday, January 31st. Sanford C. Bernstein lifted their price target on shares of Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Monness Crespi & Hardt lifted their price target on shares of Apple to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $262.00 price target on shares of Apple in a research note on Monday, January 27th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $243.88.

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.