Capital Investment Advisory Services LLC Sells 7,020 Shares of Apple Inc. (NASDAQ:AAPL)

Capital Investment Advisory Services LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 141,953 shares of the iPhone maker's stock after selling 7,020 shares during the quarter. Apple comprises approximately 3.4% of Capital Investment Advisory Services LLC's holdings, making the stock its 2nd largest holding. Capital Investment Advisory Services LLC's holdings in Apple were worth $35,548,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AAPL. O Connor Financial Group LLC grew its stake in Apple by 1.2% in the 4th quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker's stock worth $896,000 after acquiring an additional 41 shares in the last quarter. 1620 Investment Advisors Inc. boosted its holdings in shares of Apple by 0.5% in the third quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker's stock valued at $2,249,000 after purchasing an additional 45 shares during the period. Carolina Wealth Advisors LLC grew its stake in Apple by 1.3% in the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker's stock worth $813,000 after purchasing an additional 46 shares in the last quarter. Menard Financial Group LLC increased its holdings in Apple by 0.4% during the 3rd quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker's stock worth $2,848,000 after purchasing an additional 48 shares during the period. Finally, Hanseatic Management Services Inc. raised its position in Apple by 1.3% during the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock valued at $945,000 after purchasing an additional 48 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several equities analysts have recently commented on the company. TD Cowen restated a "buy" rating on shares of Apple in a research note on Tuesday, January 28th. Bank of America raised their target price on shares of Apple from $253.00 to $265.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Maxim Group upped their price target on shares of Apple to $215.00 and gave the stock a "hold" rating in a research report on Friday, February 21st. Barclays increased their price objective on shares of Apple from $183.00 to $197.00 and gave the company an "underweight" rating in a research note on Friday, January 31st. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Apple in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and a consensus target price of $245.52.

Apple Price Performance

Shares of Apple stock traded down $5.95 during trading hours on Friday, reaching $217.90. The stock had a trading volume of 39,775,695 shares, compared to its average volume of 54,852,651. The stock's 50 day moving average is $230.70 and its 200 day moving average is $233.35. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a twelve month low of $164.08 and a twelve month high of $260.10. The firm has a market capitalization of $3.27 trillion, a PE ratio of 34.59, a PEG ratio of 2.44 and a beta of 1.18.

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

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. Apple's dividend payout ratio (DPR) 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.