Apple Inc. (NASDAQ:AAPL) Stock Position Reduced by Baker Chad R

Baker Chad R cut its position in Apple Inc. (NASDAQ:AAPL) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 255,564 shares of the iPhone maker’s stock after selling 10,225 shares during the quarter. Apple makes up 11.1% of Baker Chad R’s investment portfolio, making the stock its biggest holding. Baker Chad R’s holdings in Apple were worth $49,204,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. Kingdom Financial Group LLC. lifted its position in shares of Apple by 5.5% during the 3rd quarter. Kingdom Financial Group LLC. now owns 11,464 shares of the iPhone maker’s stock valued at $1,963,000 after acquiring an additional 598 shares during the period. RFG Advisory LLC boosted its position in shares of Apple by 13.6% in the 3rd quarter. RFG Advisory LLC now owns 172,823 shares of the iPhone maker’s stock worth $29,589,000 after buying an additional 20,737 shares in the last quarter. Headinvest LLC grew its stake in Apple by 1.7% in the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock valued at $9,236,000 after acquiring an additional 872 shares during the last quarter. Sound Income Strategies LLC increased its holdings in Apple by 16.1% during the 4th quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock valued at $14,461,000 after acquiring an additional 10,425 shares in the last quarter. Finally, DNB Asset Management AS raised its position in Apple by 6.9% during the fourth quarter. DNB Asset Management AS now owns 4,307,068 shares of the iPhone maker’s stock worth $829,240,000 after acquiring an additional 279,311 shares during the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. UBS Group reiterated a “hold” rating and issued a $190.00 price target on shares of Apple in a research report on Monday, March 25th. Piper Sandler lowered their target price on Apple from $205.00 to $190.00 and set a “neutral” rating on the stock in a report on Friday, February 2nd. Loop Capital dropped their price target on Apple from $185.00 to $170.00 and set a “hold” rating for the company in a research report on Monday, April 1st. Oppenheimer restated an “outperform” rating and issued a $200.00 price objective on shares of Apple in a research report on Friday, February 2nd. Finally, Monness Crespi & Hardt increased their price objective on Apple from $189.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $203.34.

Insider Transactions at Apple

In related news, Director Arthur D. Levinson sold 100,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the transaction, the director now owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares in the company, valued at $574,260,512.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the completion of the sale, the director now directly owns 4,434,576 shares in the company, valued at $802,392,181.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 366,271 shares of company stock valued at $63,653,887. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

AAPL stock opened at $165.00 on Monday. The stock has a 50-day simple moving average of $174.67 and a 200-day simple moving average of $182.17. The firm has a market cap of $2.55 trillion, a P/E ratio of 25.70, a price-to-earnings-growth ratio of 1.99 and a beta of 1.27. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07. Apple Inc. has a 1 year low of $162.80 and a 1 year high of $199.62.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.09. The company had revenue of $119.60 billion during the quarter, compared to the consensus estimate of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. Apple’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $1.88 earnings per share. On average, equities analysts predict that Apple Inc. will post 6.54 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.96 annualized dividend and a dividend yield of 0.58%. Apple’s dividend payout ratio is presently 14.95%.

Apple 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.