Sunburst Financial Group LLC Reduces Holdings in Apple Inc. (NASDAQ:AAPL)

Sunburst Financial Group LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 8.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,751 shares of the iPhone maker's stock after selling 2,119 shares during the period. Apple makes up 1.4% of Sunburst Financial Group LLC's investment portfolio, making the stock its 14th largest position. Sunburst Financial Group LLC's holdings in Apple were worth $5,697,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Drystone LLC purchased a new stake in shares of Apple in the 4th quarter valued at $25,000. Bull Oak Capital LLC boosted its stake in shares of 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 purchasing an additional 111 shares during the period. SPX Gestao de Recursos Ltda purchased a new stake in Apple during the 3rd quarter worth approximately $71,000. Teachers Insurance & Annuity Association of America acquired a new stake in Apple during the 3rd quarter worth approximately $77,000. Finally, ARK Investment Management LLC acquired a new position in shares of Apple in the third quarter worth $110,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on AAPL shares. JPMorgan Chase & Co. decreased their target price on Apple from $270.00 to $245.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Argus raised shares of Apple to a "strong-buy" rating in a report on Friday, January 31st. Rosenblatt Securities reissued a "buy" rating and issued a $263.00 price objective on shares of Apple in a research report on Thursday, April 3rd. Citigroup decreased their price objective on shares of Apple from $275.00 to $245.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Apple in a research note on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $235.85.

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 108,136 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the sale, the chief executive officer now owns 3,280,295 shares in the company, valued at $733,637,976.75. This trade represents a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Katherine L. Adams sold 38,822 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the transaction, the senior vice president now owns 179,158 shares in the company, valued at $40,072,269.86. The trade was a 17.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 182,451 shares of company stock worth $40,818,720 over the last three months. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Performance

Shares of Apple stock traded down $3.82 during trading hours on Monday, hitting $193.16. 46,653,946 shares of the company were exchanged, compared to its average volume of 56,785,313. The business has a 50-day moving average of $218.77 and a 200-day moving average of $229.90. Apple Inc. has a 1 year low of $164.77 and a 1 year high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $2.90 trillion, a price-to-earnings ratio of 30.66, a P/E/G ratio of 2.44 and a beta of 1.26.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results 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%. As a group, analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Monday, February 10th. Apple's dividend payout ratio (DPR) is 15.87%.

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.