Rehmann Capital Advisory Group Sells 4,517 Shares of Apple Inc. (NASDAQ:AAPL)

Rehmann Capital Advisory Group lessened its position in Apple Inc. (NASDAQ:AAPL) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 163,414 shares of the iPhone maker’s stock after selling 4,517 shares during the period. Apple comprises about 2.5% of Rehmann Capital Advisory Group’s portfolio, making the stock its 4th largest holding. Rehmann Capital Advisory Group’s holdings in Apple were worth $38,081,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Main Line Retirement Advisors LLC grew its position in shares of Apple by 2.8% in the 3rd quarter. Main Line Retirement Advisors LLC now owns 3,237 shares of the iPhone maker’s stock valued at $754,000 after acquiring an additional 87 shares during the period. TD Private Client Wealth LLC grew its position in shares of Apple by 6.5% in the 3rd quarter. TD Private Client Wealth LLC now owns 106,889 shares of the iPhone maker’s stock valued at $24,905,000 after acquiring an additional 6,543 shares during the period. Hobbs Group Advisors LLC grew its position in shares of Apple by 1.5% in the 3rd quarter. Hobbs Group Advisors LLC now owns 16,473 shares of the iPhone maker’s stock valued at $3,838,000 after acquiring an additional 248 shares during the period. Fortem Financial Group LLC grew its position in shares of Apple by 3.7% in the 3rd quarter. Fortem Financial Group LLC now owns 25,351 shares of the iPhone maker’s stock valued at $5,907,000 after acquiring an additional 899 shares during the period. Finally, Asset Allocation Strategies LLC grew its position in shares of Apple by 8.4% in the 3rd quarter. Asset Allocation Strategies LLC now owns 7,581 shares of the iPhone maker’s stock valued at $1,766,000 after acquiring an additional 589 shares during the period. Institutional investors own 67.73% of the company’s stock.

Apple Price Performance

AAPL stock opened at $241.53 on Friday. The company has a 50 day simple moving average of $240.70 and a 200 day simple moving average of $231.34. The stock has a market cap of $3.63 trillion, a price-to-earnings ratio of 38.34, a P/E/G ratio of 2.32 and a beta of 1.20. Apple Inc. has a 1 year low of $164.07 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.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) 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%. Research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s payout ratio is 15.87%.

Insiders Place Their Bets

In other Apple 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 transaction 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 $97,474,301.68. The trade was a 20.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 4,130 shares of the business’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 transaction of $945,233.10. Following the sale, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on AAPL shares. Barclays lifted their target price on shares of Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Raymond James lifted their target price on shares of Apple to $250.00 and gave the stock a “buy” rating in a report on Monday, January 20th. KeyCorp reaffirmed an “underweight” rating and set a $200.00 target price on shares of Apple in a report on Friday, January 31st. Oppenheimer downgraded shares of Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Finally, Citigroup lifted 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. Four 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $242.52.

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.