Kelleher Financial Advisors Decreases Stake in Apple Inc. (NASDAQ:AAPL)

Kelleher Financial Advisors decreased its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 60,034 shares of the iPhone maker's stock after selling 1,452 shares during the period. Apple makes up about 5.7% of Kelleher Financial Advisors' holdings, making the stock its 4th biggest holding. Kelleher Financial Advisors' holdings in Apple were worth $15,049,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in 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 worth $219,829,700,000 after buying an additional 93,886,664 shares during the last quarter. State Street Corp boosted its position in shares of Apple by 10.6% during 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 buying an additional 55,935,105 shares during the period. Geode Capital Management LLC boosted 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 during the period. FMR LLC raised its stake in Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock worth $84,779,231,000 after buying an additional 18,224,005 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Apple by 6.6% in the 3rd 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 acquiring an additional 5,893,741 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Trading Down 1.7 %

Apple stock opened at $216.98 on Thursday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The company's fifty day moving average price is $235.80 and its two-hundred day moving average price is $234.00. The company has a market capitalization of $3.26 trillion, a price-to-earnings ratio of 34.44, a PEG ratio of 2.44 and a beta of 1.18.

Remove Ads

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 (EPS) for the quarter, beating 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, analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Monday, February 10th. Apple's dividend payout ratio (DPR) is 15.87%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Sanford C. Bernstein boosted their price objective on Apple from $240.00 to $260.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Jefferies Financial Group restated an "underperform" rating on shares of Apple in a research report on Wednesday, February 19th. DA Davidson set a $290.00 target price on Apple in a report on Friday, January 31st. Redburn Partners set a $230.00 price objective on Apple in a research report on Friday, January 31st. Finally, Evercore ISI lifted their target price on Apple to $260.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $243.22.

Insider Activity at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the firm's stock in a transaction that occurred on 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 sale, the chief operating officer now owns 389,944 shares of the company's stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.06% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

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.