Carr Financial Group Corp Has $4.41 Million Stake in Apple Inc. (NASDAQ:AAPL)

Carr Financial Group Corp cut its position in Apple Inc. (NASDAQ:AAPL) by 7.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,840 shares of the iPhone maker’s stock after selling 1,685 shares during the quarter. Apple accounts for about 1.4% of Carr Financial Group Corp’s portfolio, making the stock its 15th largest holding. Carr Financial Group Corp’s holdings in Apple were worth $4,407,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AAPL. Conquis Financial LLC bought a new stake in shares of Apple in the fourth quarter worth $63,000. LSV Asset Management acquired a new position in Apple during the 4th quarter worth about $65,000. Pillar Financial Advisors LLC bought a new stake in shares of Apple in the 4th quarter valued at about $82,000. Compass Planning Associates Inc acquired a new stake in shares of Apple in the fourth quarter valued at about $96,000. Finally, Collier Financial bought a new position in shares of Apple during the fourth quarter worth about $140,000. Institutional investors own 67.73% of the company’s stock.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider owned 15,533 shares of the company’s stock, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is currently owned by company insiders.

Apple Stock Performance

Shares of AAPL stock opened at $214.05 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The firm has a fifty day simple moving average of $204.87 and a two-hundred day simple moving average of $214.22. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The firm has a market capitalization of $3.20 trillion, a PE ratio of 33.34, a price-to-earnings-growth ratio of 2.39 and a beta of 1.20.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm had revenue of $95.36 billion during the quarter, compared to analysts’ expectations of $94.04 billion. During the same period last year, the company earned $1.53 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. Analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its Board of Directors has initiated a share buyback plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Apple Increases Dividend

The business 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 is a positive change from Apple’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, May 12th. Apple’s payout ratio is currently 16.20%.

Wall Street Analyst Weigh In

Several analysts recently commented on AAPL shares. Barclays set a $173.00 target price on Apple and gave the company an “underweight” rating in a report on Tuesday, June 24th. Loop Capital reduced their price objective on shares of Apple from $230.00 to $215.00 and set a “hold” rating on the stock in a research note on Wednesday, April 30th. China Renaissance started coverage on shares of Apple in a research note on Tuesday, April 22nd. They set a “buy” rating and a $241.00 target price for the company. Jefferies Financial Group upgraded shares of Apple from an “underperform” rating to a “hold” rating in a report on Friday, July 18th. Finally, JPMorgan Chase & Co. increased their price target on Apple from $230.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.94.

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.