Bridge Advisory LLC Sells 15,061 Shares of Apple Inc. (NASDAQ:AAPL)

Bridge Advisory LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 29.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,364 shares of the iPhone maker’s stock after selling 15,061 shares during the period. Apple accounts for 3.4% of Bridge Advisory LLC’s portfolio, making the stock its 7th largest holding. Bridge Advisory LLC’s holdings in Apple were worth $6,809,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Conservest Capital Advisors Inc. raised its holdings in Apple by 0.3% during the 3rd quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock worth $2,877,000 after purchasing an additional 55 shares during the last quarter. High Pines Wealth Management LLC raised its holdings in Apple by 0.7% during the 4th quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock worth $1,638,000 after purchasing an additional 58 shares during the last quarter. Kraft Davis & Associates LLC raised its holdings in Apple by 0.9% during the 3rd quarter. Kraft Davis & Associates LLC now owns 6,716 shares of the iPhone maker’s stock worth $1,155,000 after purchasing an additional 59 shares during the last quarter. MKT Advisors LLC grew its position in shares of Apple by 0.5% during the 2nd quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock worth $1,777,000 after buying an additional 60 shares during the period. Finally, Cassia Capital Partners LLC grew its position in shares of Apple by 1.2% during the 3rd quarter. Cassia Capital Partners LLC now owns 5,209 shares of the iPhone maker’s stock worth $892,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Trading Down 0.7 %

Shares of Apple stock opened at $168.45 on Tuesday. Apple Inc. has a 12-month low of $159.78 and a 12-month high of $199.62. The stock has a market cap of $2.60 trillion, a P/E ratio of 26.24, a P/E/G ratio of 2.04 and a beta of 1.27. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. The business’s 50 day moving average is $177.82 and its 200-day moving average is $182.34.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. Apple had a return on equity of 156.04% and a net margin of 26.16%. The company had revenue of $119.60 billion for the quarter, compared to analysts’ expectations of $117.99 billion. During the same quarter in the prior year, the business posted $1.88 EPS. The business’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts predict that Apple Inc. will post 6.55 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s dividend payout ratio (DPR) is presently 14.95%.

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the sale, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the sale, the senior vice president now owns 136,572 shares in the company, valued at approximately $23,068,376.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. In the last quarter, insiders have sold 253,915 shares of company stock worth $44,202,868. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wedbush restated an “outperform” rating and set a $250.00 target price on shares of Apple in a research report on Thursday, March 21st. Monness Crespi & Hardt boosted their target price on Apple from $189.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Morgan Stanley restated an “overweight” rating and set a $220.00 target price on shares of Apple in a research report on Friday, March 22nd. Needham & Company LLC restated a “buy” rating and set a $220.00 target price on shares of Apple in a research report on Friday, February 2nd. Finally, Piper Sandler decreased their target price on Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $204.23.

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.