C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Has $16.72 Million Position in Apple Inc. (NASDAQ:AAPL)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lowered its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 27.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,771 shares of the iPhone maker's stock after selling 24,813 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors' holdings in Apple were worth $16,721,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Drystone LLC purchased a new stake in shares of Apple during the fourth quarter worth $25,000. SPX Gestao de Recursos Ltda acquired a new position in Apple in the 3rd quarter worth about $71,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Apple during the 3rd quarter worth about $77,000. ARK Investment Management LLC acquired a new stake in shares of Apple during the 3rd quarter valued at about $110,000. Finally, Collier Financial bought a new stake in shares of Apple in the 4th quarter valued at approximately $140,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on AAPL. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. DA Davidson reduced their price objective on shares of Apple from $290.00 to $230.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Argus raised shares of Apple to a "strong-buy" rating in a research report on Friday, January 31st. Evercore ISI boosted their price target on Apple from $260.00 to $275.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 18th. Finally, Citigroup lowered their price objective on Apple from $275.00 to $245.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $233.88.

Insider Buying and Selling at Apple

In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 390,059 shares of the company's stock, valued at approximately $87,377,116.59. This trade represents a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the transaction, the chief executive officer now owns 3,280,295 shares in the company, valued at $733,637,976.75. This represents a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 182,451 shares of company stock worth $40,818,720. Insiders own 0.06% of the company's stock.

Apple Price Performance

Shares of AAPL stock opened at $208.37 on Friday. Apple Inc. has a 52 week low of $168.15 and a 52 week high of $260.10. The stock has a market capitalization of $3.13 trillion, a PE ratio of 33.07, a PEG ratio of 2.44 and a beta of 1.26. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The stock's fifty day moving average is $216.41 and its 200-day moving average is $229.42.

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

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, February 10th. Apple's dividend payout ratio is 15.87%.

Apple 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.