Janney Capital Management LLC Sells 1,710 Shares of Apple Inc. (NASDAQ:AAPL)

Janney Capital Management LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 81,203 shares of the iPhone maker’s stock after selling 1,710 shares during the period. Apple accounts for 1.3% of Janney Capital Management LLC’s investment portfolio, making the stock its 12th largest position. Janney Capital Management LLC’s holdings in Apple were worth $20,335,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Bull Oak Capital LLC increased its position in shares of 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 last quarter. Hershey Financial Advisers LLC purchased a new position in shares of Apple in the 2nd quarter valued at approximately $42,000. Christopher J. Hasenberg Inc boosted its holdings in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares in the last quarter. SPX Gestao de Recursos Ltda bought a new position in shares of Apple during the third quarter valued at $71,000. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in Apple during the third quarter valued at $77,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

Apple stock opened at $216.98 on Thursday. The firm has a 50 day simple moving average of $235.80 and a 200-day simple moving average of $234.00. Apple Inc. has a 1-year low of $164.08 and a 1-year high of $260.10. 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 stock has a market cap of $3.26 trillion, a price-to-earnings ratio of 34.44, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping 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%. On average, analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.46%. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Citigroup increased their price objective on shares of Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. raised their target price on shares of Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Wedbush reissued an “outperform” rating and set a $325.00 price objective on shares of Apple in a report on Monday, March 3rd. Evercore ISI lifted their price objective on shares of Apple to $260.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Raymond James boosted their target price on shares of Apple to $250.00 and gave the company a “buy” rating in a research report on Monday, January 20th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $243.22.

Insider Buying and Selling at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction on 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 transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.

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.