Apple Inc. (NASDAQ:AAPL) Shares Sold by Houlihan Financial Resource Group Ltd.

Houlihan Financial Resource Group Ltd. cut its stake in Apple Inc. (NASDAQ:AAPL) by 23.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,348 shares of the iPhone maker’s stock after selling 4,276 shares during the period. Apple makes up about 1.5% of Houlihan Financial Resource Group Ltd.’s holdings, making the stock its 25th largest holding. Houlihan Financial Resource Group Ltd.’s holdings in Apple were worth $3,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in AAPL. O Connor Financial Group LLC lifted its stake in Apple by 1.2% in the fourth quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock valued at $896,000 after acquiring an additional 41 shares during the last quarter. Menard Financial Group LLC increased 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 worth $2,848,000 after acquiring an additional 48 shares during the period. Hanseatic Management Services Inc. increased its holdings in Apple by 1.3% in the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker’s stock valued at $945,000 after buying an additional 48 shares during the period. Family Capital Management Inc. increased its holdings in Apple by 0.3% in the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker’s stock valued at $4,235,000 after buying an additional 48 shares during the period. Finally, Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in Apple by 0.3% in the 4th 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 buying an additional 48 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. DA Davidson raised their price target on shares of Apple from $230.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. lowered their price objective on shares of Apple from $270.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. China Renaissance began coverage on shares of Apple in a research note on Tuesday, April 22nd. They set a “buy” rating and a $241.00 price target for the company. Citigroup restated a “cautious” rating on shares of Apple in a report on Monday, May 5th. Finally, Maxim Group boosted their price target on shares of Apple to $215.00 and gave the stock a “hold” rating in a report on Friday, February 21st. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.80.

Apple Stock Performance

Apple stock opened at $203.27 on Wednesday. The firm’s 50 day simple moving average is $202.29 and its 200 day simple moving average is $224.69. The firm has a market capitalization of $3.04 trillion, a PE ratio of 32.27, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. 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 (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same quarter in the prior year, the firm earned $1.53 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.51%. This is a boost from Apple’s previous quarterly dividend of $0.25. Apple’s dividend payout ratio is presently 16.20%.

Apple announced that its board has authorized a share repurchase plan on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 4,486 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the transaction, the insider now directly owns 15,533 shares in the company, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the transaction, the chief executive officer now owns 3,280,295 shares of the company’s stock, valued at approximately $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. Insiders sold 191,507 shares of company stock valued at $42,694,080 in the last quarter. Company insiders own 0.06% of the company’s stock.

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.