Comprehensive Financial Consultants Institutional Inc. Sells 569 Shares of Apple Inc. (NASDAQ:AAPL)

Comprehensive Financial Consultants Institutional Inc. cut its stake in Apple Inc. (NASDAQ:AAPL) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,978 shares of the iPhone maker’s stock after selling 569 shares during the period. Apple comprises approximately 2.4% of Comprehensive Financial Consultants Institutional Inc.’s holdings, making the stock its 3rd largest holding. Comprehensive Financial Consultants Institutional Inc.’s holdings in Apple were worth $5,194,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AAPL. AEGON ASSET MANAGEMENT UK Plc bought a new position in Apple during the 4th quarter valued at about $560,388,000. Hudson Bay Capital Management LP acquired a new stake in shares of Apple during the third quarter worth approximately $487,435,000. Barclays PLC raised its stake in shares of Apple by 6.0% in the third quarter. Barclays PLC now owns 49,759,061 shares of the iPhone maker’s stock valued at $8,519,244,000 after acquiring an additional 2,826,709 shares during the last quarter. Granite Bay Wealth Management LLC acquired a new position in shares of Apple in the 3rd quarter worth approximately $461,021,000. Finally, Morgan Stanley grew its position in Apple by 1.0% during the 3rd quarter. Morgan Stanley now owns 206,732,960 shares of the iPhone maker’s stock worth $35,394,751,000 after acquiring an additional 2,018,010 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AAPL. Loop Capital reduced their price objective on Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Piper Sandler reduced their price target on shares of Apple from $205.00 to $190.00 and set a “neutral” rating on the stock in a research report on Friday, February 2nd. Redburn Atlantic cut shares of Apple from a “buy” rating to a “neutral” rating and set a $200.00 price objective for the company. in a research report on Wednesday, January 10th. Barclays reaffirmed an “underweight” rating and issued a $158.00 target price on shares of Apple in a research note on Tuesday. Finally, Morgan Stanley lowered their price target on shares of Apple from $220.00 to $210.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.05.

Insider Activity

In related news, Director Arthur D. Levinson sold 100,000 shares of the 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 transaction, the director now owns 4,434,576 shares in the company, valued at $802,392,181.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the sale, the director now owns 4,434,576 shares in the company, valued at $802,392,181.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The disclosure for this sale can be found here. Insiders have sold 366,271 shares of company stock worth $63,653,887 over the last ninety days. Insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $169.30 on Friday. The company has a fifty day moving average price of $173.04 and a 200 day moving average price of $181.79. The firm has a market cap of $2.61 trillion, a PE ratio of 26.37, a PEG ratio of 2.04 and a beta of 1.27. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $199.62.

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

Apple Dividend Announcement

The firm also recently declared 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 0.57%. Apple’s dividend payout ratio is currently 14.95%.

Apple Company 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.