Madrona Financial Services LLC Has $10.05 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Madrona Financial Services LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,121 shares of the iPhone maker’s stock after selling 1,223 shares during the quarter. Apple makes up approximately 2.7% of Madrona Financial Services LLC’s investment portfolio, making the stock its 10th largest holding. Madrona Financial Services LLC’s holdings in Apple were worth $10,047,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of AAPL. Bull Oak Capital LLC grew its holdings in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after buying an additional 111 shares in the last quarter. Hershey Financial Advisers LLC acquired a new position in shares of Apple in the second quarter valued at about $42,000. Christopher J. Hasenberg Inc increased its position in Apple by 88.9% during 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 during the period. SPX Gestao de Recursos Ltda acquired a new stake in Apple in the 3rd quarter worth about $71,000. Finally, Teachers Insurance & Annuity Association of America bought a new stake in Apple in the 3rd quarter valued at about $77,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction that occurred 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 owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AAPL shares. Maxim Group lifted their price target on shares of Apple to $215.00 and gave the company a “hold” rating in a research report on Friday, February 21st. Needham & Company LLC reiterated a “buy” rating and set a $260.00 target price on shares of Apple in a research report on Friday, January 31st. Sanford C. Bernstein increased their target price on Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Redburn Partners set a $230.00 price target on Apple in a research note on Friday, January 31st. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a research note on Wednesday, February 19th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $243.22.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $213.49 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. Apple Inc. has a 52 week low of $164.08 and a 52 week high of $260.10. The firm has a market cap of $3.21 trillion, a PE ratio of 33.89, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. The firm’s fifty day moving average is $234.52 and its 200-day moving average is $233.73.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio is currently 15.87%.

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.