Index Fund Advisors Inc. Lowers Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Index Fund Advisors Inc. trimmed its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,538 shares of the iPhone maker's stock after selling 1,870 shares during the period. Apple makes up 0.8% of Index Fund Advisors Inc.'s portfolio, making the stock its 9th biggest holding. Index Fund Advisors Inc.'s holdings in Apple were worth $15,410,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AAPL. International Assets Investment Management LLC grew its stake in shares of Apple by 20,372.7% in the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker's stock valued at $219,829,700,000 after purchasing an additional 93,886,664 shares during the period. State Street Corp grew its position in Apple by 10.6% in the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock valued at $136,074,372,000 after acquiring an additional 55,935,105 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Apple by 6.5% during the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock valued at $77,542,863,000 after acquiring an additional 20,483,787 shares during the period. FMR LLC grew its holdings in shares of Apple by 5.3% in the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock worth $84,779,231,000 after purchasing an additional 18,224,005 shares during the last quarter. Finally, Strategic Financial Concepts LLC increased its position in shares of Apple by 25,285.2% during the 4th quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker's stock worth $2,411,260,000 after purchasing an additional 9,590,933 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Stock Up 1.3 %

AAPL traded up $2.52 during trading hours on Friday, hitting $196.79. 51,328,536 shares of the company's stock were exchanged, compared to its average volume of 56,870,940. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a 1-year low of $164.08 and a 1-year high of $260.10. The stock's 50-day moving average is $219.65 and its two-hundred day moving average is $230.08. The stock has a market cap of $2.96 trillion, a price-to-earnings ratio of 31.24, a PEG ratio of 2.44 and a beta of 1.26.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, February 10th. Apple's payout ratio is presently 15.87%.

Analysts Set New Price Targets

AAPL has been the topic of a number of recent analyst reports. Oppenheimer lowered shares of Apple from an "outperform" rating to a "market perform" rating in a research report on Wednesday, January 29th. Argus raised Apple to a "strong-buy" rating in a report on Friday, January 31st. Citigroup decreased their target price on Apple from $275.00 to $245.00 and set a "buy" rating on the stock in a report on Monday. Sanford C. Bernstein boosted their target price on shares of Apple from $240.00 to $260.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Finally, Bank of America reduced their target price on shares of Apple from $265.00 to $250.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and a consensus price target of $235.85.

Insider Activity at Apple

In related news, COO Jeffrey E. Williams sold 35,493 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the sale, the chief operating officer now directly owns 390,059 shares in the company, valued at approximately $87,377,116.59. This trade represents a 8.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 38,822 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the transaction, the senior vice president now directly owns 179,158 shares in the company, valued at approximately $40,072,269.86. This trade represents a 17.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 182,451 shares of company stock valued at $40,818,720. 0.06% of the stock is owned by corporate insiders.

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.