Fragasso Financial Advisors Inc Reduces Holdings in Apple Inc. (NASDAQ:AAPL)

Fragasso Financial Advisors Inc lowered its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 282,484 shares of the iPhone maker's stock after selling 6,331 shares during the period. Apple accounts for 5.4% of Fragasso Financial Advisors Inc's portfolio, making the stock its 5th largest holding. Fragasso Financial Advisors Inc's holdings in Apple were worth $70,740,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. State Street Corp raised its stake in shares of 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 last quarter. FMR LLC increased its holdings in shares of Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock valued at $84,779,231,000 after purchasing an additional 18,224,005 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Apple by 6.5% in 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 purchasing an additional 20,483,787 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Apple by 6.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker's stock valued at $22,121,656,000 after purchasing an additional 5,893,741 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Apple by 20,372.7% in the third 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 in the last quarter. Institutional investors own 67.73% of the company's stock.

Insider Transactions at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.06% of the company's stock.

Apple Stock Down 0.1 %

NASDAQ AAPL traded down $0.28 on Friday, reaching $245.55. The company had a trading volume of 53,102,300 shares, compared to its average volume of 49,742,392. The firm has a market capitalization of $3.69 trillion, a price-to-earnings ratio of 38.98, a price-to-earnings-growth ratio of 2.44 and a beta of 1.20. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The company's fifty day moving average is $240.47 and its 200-day moving average is $232.55.

Apple (NASDAQ:AAPL - Get Free Report) last announced its 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 net margin of 24.30% and a return on equity of 160.83%. On average, research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. Apple's dividend payout ratio is 15.87%.

Analyst Ratings Changes

A number of brokerages recently weighed in on AAPL. Oppenheimer lowered shares of Apple from an "outperform" rating to a "market perform" rating in a report on Wednesday, January 29th. KeyCorp reissued an "underweight" rating and issued a $200.00 price target on shares of Apple in a report on Friday, January 31st. Jefferies Financial Group reissued an "underperform" rating on shares of Apple in a report on Wednesday. Loop Capital lowered shares of Apple from a "buy" rating to a "hold" rating and set a $230.00 price target for the company. in a report on Tuesday, January 21st. Finally, Morgan Stanley set a $275.00 target price on shares of Apple in a report on Tuesday, February 11th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $244.85.

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.