Falcon Wealth Planning Lowers Holdings in Apple Inc. (NASDAQ:AAPL)

Falcon Wealth Planning cut its holdings in Apple Inc. (NASDAQ:AAPL) by 11.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 237,826 shares of the iPhone maker’s stock after selling 31,611 shares during the period. Apple accounts for 6.6% of Falcon Wealth Planning’s investment portfolio, making the stock its 3rd largest holding. Falcon Wealth Planning’s holdings in Apple were worth $59,556,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. AMF Tjanstepension AB grew its stake in Apple by 21.1% during the third quarter. AMF Tjanstepension AB now owns 3,380,064 shares of the iPhone maker’s stock valued at $787,631,000 after acquiring an additional 588,427 shares in the last quarter. Consilio Wealth Advisors LLC grew its position in shares of Apple by 24.0% during the 3rd quarter. Consilio Wealth Advisors LLC now owns 17,146 shares of the iPhone maker’s stock valued at $3,995,000 after purchasing an additional 3,324 shares in the last quarter. MKT Advisors LLC increased its holdings in shares of Apple by 1.8% in the third quarter. MKT Advisors LLC now owns 12,872 shares of the iPhone maker’s stock worth $2,919,000 after purchasing an additional 231 shares during the period. Value Partners Investments Inc. raised its position in shares of Apple by 6.8% in the third quarter. Value Partners Investments Inc. now owns 4,294 shares of the iPhone maker’s stock worth $1,001,000 after buying an additional 274 shares in the last quarter. Finally, Kwmg LLC boosted its stake in Apple by 0.8% during the third quarter. Kwmg LLC now owns 24,734 shares of the iPhone maker’s stock valued at $5,763,000 after buying an additional 189 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Up 1.9 %

Shares of NASDAQ AAPL opened at $218.27 on Friday. The firm has a fifty day simple moving average of $231.82 and a two-hundred day simple moving average of $233.33. The firm has a market capitalization of $3.28 trillion, a PE ratio of 34.65, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a 12 month low of $164.08 and a 12 month high of $260.10.

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%. Equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.46%. Apple’s payout ratio is 15.87%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Morgan Stanley lowered their price target on Apple from $275.00 to $252.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. Monness Crespi & Hardt raised their target price on shares of Apple to $245.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Jefferies Financial Group reissued an “underperform” rating on shares of Apple in a research note on Wednesday, February 19th. Moffett Nathanson restated a “sell” rating and set a $188.00 price objective (down previously from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Finally, Wedbush reiterated an “outperform” rating and issued a $325.00 target price on shares of Apple in a research report on Friday, March 14th. Four equities 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $243.65.

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.