Strategic Financial Concepts LLC Has $13.25 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Strategic Financial Concepts LLC grew its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 39.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 52,903 shares of the iPhone maker's stock after buying an additional 14,972 shares during the period. Strategic Financial Concepts LLC's holdings in Apple were worth $13,248,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AAPL. Drystone LLC bought a new position in shares of Apple in the 4th quarter worth $25,000. Bull Oak Capital LLC lifted its stake in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock valued at $36,000 after buying an additional 111 shares during the period. Life Planning Partners Inc bought a new position in Apple during the fourth quarter worth about $47,000. SPX Gestao de Recursos Ltda acquired a new position in shares of Apple during the 3rd quarter worth about $71,000. Finally, Teachers Insurance & Annuity Association of America bought a new stake in shares of Apple in the 3rd quarter valued at about $77,000. Institutional investors own 67.73% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on AAPL. China Renaissance started coverage on shares of Apple in a research note on Tuesday. They set a "buy" rating and a $241.00 price objective on the stock. JPMorgan Chase & Co. reduced their price target on shares of Apple from $270.00 to $245.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. The Goldman Sachs Group lowered their price objective on shares of Apple from $259.00 to $256.00 and set a "buy" rating for the company in a research report on Wednesday. Jefferies Financial Group upgraded Apple from an "underperform" rating to a "hold" rating and reduced their target price for the stock from $202.33 to $167.88 in a report on Wednesday, April 9th. Finally, Citigroup lowered their price target on Apple from $275.00 to $245.00 and set a "buy" rating for the company in a report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $233.88.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 38,822 shares of the firm's stock in a transaction dated 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 sale, the senior vice president now directly owns 179,158 shares of the company's stock, valued at $40,072,269.86. This trade represents a 17.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 108,136 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. The trade was a 3.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 182,451 shares of company stock valued at $40,818,720 over the last three months. 0.06% of the stock is owned by insiders.

Apple Price Performance

NASDAQ:AAPL traded down $1.17 during trading hours on Friday, reaching $207.20. 12,567,004 shares of the company were exchanged, compared to its average volume of 56,642,469. The company has a market capitalization of $3.11 trillion, a P/E ratio of 32.86, a P/E/G ratio of 2.44 and a beta of 1.26. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The business has a 50 day moving average of $216.41 and a 200 day moving average of $229.42. Apple Inc. has a 1-year low of $168.15 and a 1-year high of $260.10.

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%. Research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors 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 annualized dividend and a dividend yield of 0.48%. Apple's dividend payout ratio is 15.87%.

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.