Axiom Financial Strategies LLC Trims Position in Apple Inc. (NASDAQ:AAPL)

Axiom Financial Strategies LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 10.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,258 shares of the iPhone maker’s stock after selling 398 shares during the quarter. Apple comprises about 0.5% of Axiom Financial Strategies LLC’s holdings, making the stock its 24th largest position. Axiom Financial Strategies LLC’s holdings in Apple were worth $816,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its position in Apple by 20,372.7% during the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after buying an additional 93,886,664 shares during the last quarter. State Street Corp increased its stake in shares of Apple by 10.6% during the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after acquiring an additional 55,935,105 shares during the period. Geode Capital Management LLC raised its holdings in Apple by 6.5% during the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock worth $77,542,863,000 after purchasing an additional 20,483,787 shares in the last quarter. FMR LLC lifted its position in Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock valued at $84,779,231,000 after purchasing an additional 18,224,005 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Apple by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock valued at $22,121,656,000 after purchasing an additional 5,893,741 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Performance

Apple stock opened at $218.27 on Friday. The stock has a fifty day moving average price of $231.82 and a 200 day moving average price of $233.33. 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 52 week low of $164.08 and a 52 week high of $260.10. The firm has a market capitalization of $3.28 trillion, a P/E ratio of 34.65, a PEG ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share 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 research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

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

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of analyst reports. Citigroup increased their target price on Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Morgan Stanley reduced their target price on Apple from $275.00 to $252.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Redburn Partners set a $230.00 price target on shares of Apple in a research note on Friday, January 31st. Moffett Nathanson reiterated a “sell” rating and issued a $188.00 price objective (down previously from $202.00) on shares of Apple in a research note on Tuesday, January 7th. Finally, Barclays upped their target price on shares of Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.