First Pacific Financial Sells 506 Shares of Apple Inc. (NASDAQ:AAPL)

First Pacific Financial lessened its position in Apple Inc. (NASDAQ:AAPL) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,038 shares of the iPhone maker’s stock after selling 506 shares during the quarter. Apple comprises about 0.8% of First Pacific Financial’s investment portfolio, making the stock its 20th biggest position. First Pacific Financial’s holdings in Apple were worth $3,516,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of AAPL. High Net Worth Advisory Group LLC boosted its position in shares of Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after acquiring an additional 1,066 shares in the last quarter. Amara Financial LLC. acquired a new position in shares of Apple during the third quarter worth approximately $288,000. Granite Investment Partners LLC raised its stake in shares of Apple by 2.7% during the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after buying an additional 7,606 shares during the last quarter. Truist Financial Corp raised its stake in shares of Apple by 1.8% during the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after buying an additional 126,210 shares during the last quarter. Finally, Sterling Investment Counsel LLC increased its stake in Apple by 3.8% in the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after purchasing an additional 2,565 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

Shares of AAPL stock opened at $241.76 on Monday. The company has a market capitalization of $3.63 trillion, a price-to-earnings ratio of 38.37, a PEG ratio of 2.44 and a beta of 1.20. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The company has a 50-day simple moving average of $239.60 and a 200 day simple moving average of $233.75. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL) last announced its earnings results 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%. On average, sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s payout ratio is 15.87%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AAPL. Wedbush reissued an “outperform” rating and set a $325.00 price objective on shares of Apple in a research report on Thursday, January 23rd. Morgan Stanley set a $275.00 price objective on shares of Apple in a research report on Tuesday, February 11th. UBS Group increased their price objective on shares of Apple to $236.00 and gave the stock a “hold” rating in a research report on Tuesday, February 25th. TD Cowen reissued a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Finally, Oppenheimer downgraded shares of Apple from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $243.88.

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.