Schmidt P J Investment Management Inc. Sells 3,720 Shares of Apple Inc. (NASDAQ:AAPL)

Schmidt P J Investment Management Inc. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 155,096 shares of the iPhone maker’s stock after selling 3,720 shares during the period. Apple makes up about 6.7% of Schmidt P J Investment Management Inc.’s portfolio, making the stock its biggest holding. Schmidt P J Investment Management Inc.’s holdings in Apple were worth $38,839,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AAPL. Drystone LLC acquired a new position in shares of Apple in the fourth quarter worth about $25,000. Bull Oak Capital LLC grew 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 buying an additional 111 shares during the last quarter. SPX Gestao de Recursos Ltda bought a new stake in shares of Apple in the 3rd quarter worth approximately $71,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Apple during the third quarter valued at $77,000. Finally, ARK Investment Management LLC acquired a new stake in shares of Apple in the third quarter valued at approximately $110,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the topic of several research analyst reports. Loop Capital cut shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 target price on the stock. in a research note on Tuesday, January 21st. Oppenheimer downgraded shares of Apple from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. Raymond James increased their price target on shares of Apple to $250.00 and gave the stock a “buy” rating in a research report on Friday. KeyCorp reaffirmed an “underweight” rating and set a $200.00 price target on shares of Apple in a research note on Friday, January 31st. Finally, Tigress Financial raised their target price on Apple from $295.00 to $300.00 and gave the company a “strong-buy” rating in a report on Thursday. Four research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $245.26.

Apple Stock Down 7.3 %

AAPL opened at $188.38 on Friday. 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 Inc. has a one year low of $164.08 and a one year high of $260.10. The firm has a market capitalization of $2.83 trillion, a P/E ratio of 29.90, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. The company has a fifty day moving average price of $229.45 and a 200-day moving average price of $233.07.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating 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%. Equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.53%. Apple’s payout ratio is 15.87%.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 108,136 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the transaction, the chief executive officer now owns 3,280,295 shares of the company’s stock, valued at approximately $733,637,976.75. This trade represents a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the sale, the chief operating officer now directly owns 390,059 shares in the company, valued at approximately $87,377,116.59. This represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 182,451 shares of company stock valued at $40,818,720 in the last quarter. Company insiders own 0.06% of the company’s stock.

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.