Financial Management Professionals Inc. Has $4.82 Million Position in Apple Inc. (NASDAQ:AAPL)
Financial Management Professionals Inc. boosted its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 3.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,013 shares of the iPhone maker’s stock after purchasing an additional 834 shares during the quarter. Apple comprises approximately 0.8% of Financial Management Professionals Inc.’s investment portfolio, making the stock its 27th largest holding. Financial Management Professionals Inc.’s holdings in Apple were worth $4,816,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of AAPL. Kingdom Financial Group LLC. boosted its holdings in shares of Apple by 5.5% in the 3rd quarter. Kingdom Financial Group LLC. now owns 11,464 shares of the iPhone maker’s stock worth $1,963,000 after buying an additional 598 shares during the last quarter. RFG Advisory LLC boosted its holdings in shares of Apple by 13.6% in the 3rd quarter. RFG Advisory LLC now owns 172,823 shares of the iPhone maker’s stock worth $29,589,000 after buying an additional 20,737 shares during the last quarter. Headinvest LLC boosted its holdings in shares of Apple by 1.7% in the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock worth $9,236,000 after buying an additional 872 shares during the last quarter. Tsfg LLC boosted its holdings in shares of Apple by 2.2% in the 3rd quarter. Tsfg LLC now owns 50,943 shares of the iPhone maker’s stock worth $8,722,000 after buying an additional 1,091 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Apple by 0.5% in the 2nd quarter. State Street Corp now owns 578,897,858 shares of the iPhone maker’s stock worth $112,288,818,000 after buying an additional 2,616,084 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.
Apple Price Performance
Shares of Apple stock opened at $171.48 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. The company has a market cap of $2.65 trillion, a PE ratio of 26.71, a P/E/G ratio of 2.07 and a beta of 1.29. The business has a 50 day moving average of $180.75 and a 200 day moving average of $182.57. Apple Inc. has a 52 week low of $159.35 and a 52 week high of $199.62.
Apple (NASDAQ:AAPL – Get Free Report) last announced its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.09. The company had revenue of $119.60 billion during the quarter, compared to the consensus estimate of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.88 earnings per share. As a group, equities research analysts forecast that Apple Inc. will post 6.55 earnings per share for the current year.
Apple Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.56%. Apple’s dividend payout ratio is presently 14.95%.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on AAPL. DA Davidson began coverage on Apple in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $166.00 price objective on the stock. Rosenblatt Securities reiterated a “neutral” rating and set a $189.00 price target on shares of Apple in a research report on Tuesday, March 5th. Redburn Partners cut Apple to a “neutral” rating and set a $200.00 price target on the stock. in a research report on Wednesday, January 10th. JPMorgan Chase & Co. decreased their price target on Apple from $225.00 to $215.00 and set an “overweight” rating on the stock in a research report on Friday, February 2nd. Finally, Wedbush reiterated an “outperform” rating and set a $250.00 price target on shares of Apple in a research report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $204.53.
Check Out Our Latest Research Report on AAPL
Insider Activity at Apple
In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the transaction, the director now owns 4,434,576 shares in the company, valued at $802,392,181.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.06% of the stock is owned by corporate insiders.
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.
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