Myecfo LLC Reduces Stock Position in Apple Inc. (NASDAQ:AAPL)

Myecfo LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 5.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,980 shares of the iPhone maker’s stock after selling 928 shares during the period. Apple makes up about 1.8% of Myecfo LLC’s holdings, making the stock its 13th largest holding. Myecfo LLC’s holdings in Apple were worth $2,884,000 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. Moneta Group Investment Advisors LLC lifted its holdings in Apple by 116,483.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock valued at $74,002,245,000 after acquiring an additional 569,066,184 shares during the last quarter. Norges Bank acquired a new position in Apple in the fourth quarter valued at approximately $21,746,940,000. Morgan Stanley lifted its holdings in Apple by 14.2% in the fourth quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock valued at $27,110,586,000 after acquiring an additional 25,926,552 shares during the last quarter. Barclays PLC lifted its holdings in Apple by 60.0% in the second quarter. Barclays PLC now owns 46,932,352 shares of the iPhone maker’s stock valued at $9,103,464,000 after acquiring an additional 17,604,799 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in Apple by 154.9% in the second quarter. Osaic Holdings Inc. now owns 23,295,770 shares of the iPhone maker’s stock valued at $1,729,270,000 after acquiring an additional 14,157,430 shares during the last quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Performance

NASDAQ:AAPL opened at $169.58 on Friday. The firm has a market capitalization of $2.62 trillion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27. The business’s fifty day moving average price is $178.29 and its 200 day moving average price is $182.33. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02. Apple Inc. has a 12 month low of $159.78 and a 12 month high of $199.62.

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

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s payout ratio is 14.95%.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the transaction, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the transaction, the director now owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 253,915 shares of company stock valued at $44,202,868. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on AAPL shares. Robert W. Baird upped their price objective on Apple from $186.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Wedbush restated an “outperform” rating and set a $250.00 price target on shares of Apple in a research note on Thursday, March 21st. Loop Capital decreased their price target on Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Piper Sandler decreased their price target on Apple from $205.00 to $190.00 and set a “neutral” rating on the stock in a research note on Friday, February 2nd. Finally, Bank of America upgraded Apple from a “neutral” rating to a “buy” rating and upped their price target for the stock from $208.00 to $225.00 in a research note on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average price target of $204.23.

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.