CBIZ Investment Advisory Services LLC Sells 280 Shares of Apple Inc. (NASDAQ:AAPL)

CBIZ Investment Advisory Services LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,043 shares of the iPhone maker’s stock after selling 280 shares during the quarter. Apple accounts for 0.2% of CBIZ Investment Advisory Services LLC’s portfolio, making the stock its 17th largest holding. CBIZ Investment Advisory Services LLC’s holdings in Apple were worth $4,268,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. O Connor Financial Group LLC grew its stake in shares of Apple by 1.2% in the fourth quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock worth $896,000 after purchasing an additional 41 shares during the last quarter. Menard Financial Group LLC boosted its position in Apple by 0.4% during the third quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker’s stock valued at $2,848,000 after acquiring an additional 48 shares during the last quarter. Hanseatic Management Services Inc. boosted its position in Apple by 1.3% during the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker’s stock valued at $945,000 after acquiring an additional 48 shares during the last quarter. Family Capital Management Inc. boosted its position in Apple by 0.3% during the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker’s stock valued at $4,235,000 after acquiring an additional 48 shares during the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA boosted its position in Apple by 0.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker’s stock valued at $4,178,000 after acquiring an additional 48 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. TD Cowen cut their price target on shares of Apple from $290.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 price target on shares of Apple in a research report on Friday, May 2nd. Citigroup reaffirmed a “cautious” rating on shares of Apple in a research report on Monday, May 5th. UBS Group cut their price target on shares of Apple from $236.00 to $210.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. Finally, DA Davidson upped their price target on shares of Apple from $230.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $235.80.

Insider Buying and Selling at Apple

In other news, CFO Kevan Parekh sold 4,570 shares of the firm’s stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the transaction, the chief financial officer now directly owns 4,569 shares of the company’s stock, valued at $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the transaction, the chief executive officer now directly owns 3,280,295 shares of the company’s stock, valued at $733,637,976.75. The trade was a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,507 shares of company stock valued at $42,694,080. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of AAPL opened at $195.27 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $2.92 trillion, a price-to-earnings ratio of 31.00, a PEG ratio of 2.44 and a beta of 1.27. The stock has a 50 day moving average of $205.04 and a 200 day moving average of $225.94. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 160.83% and a net margin of 24.30%. The business had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. During the same period in the prior year, the company earned $1.53 earnings per share. Apple’s revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.53%. This is a positive change from Apple’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple’s dividend payout ratio is 16.20%.

Apple announced that its board has initiated a stock buyback plan on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

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.