Parsec Financial Management Inc. lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 802,026 shares of the iPhone maker’s stock after selling 25,550 shares during the period. Apple makes up approximately 5.8% of Parsec Financial Management Inc.’s portfolio, making the stock its 2nd largest position. Parsec Financial Management Inc.’s holdings in Apple were worth $106,421,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in AAPL. Regentatlantic Capital LLC lifted its stake in Apple by 346.3% during the 3rd quarter. Regentatlantic Capital LLC now owns 727,454 shares of the iPhone maker’s stock valued at $84,246,000 after acquiring an additional 564,475 shares during the period. First Command Bank raised its holdings in shares of Apple by 382.9% during the third quarter. First Command Bank now owns 43,926 shares of the iPhone maker’s stock valued at $5,087,000 after purchasing an additional 34,830 shares during the last quarter. Factory Mutual Insurance Co. lifted its position in Apple by 262.7% during the third quarter. Factory Mutual Insurance Co. now owns 3,611,700 shares of the iPhone maker’s stock valued at $418,271,000 after purchasing an additional 2,615,800 shares during the period. Iowa State Bank boosted its holdings in Apple by 296.9% in the third quarter. Iowa State Bank now owns 105,923 shares of the iPhone maker’s stock worth $12,267,000 after purchasing an additional 79,235 shares during the last quarter. Finally, JJJ Advisors Inc. grew its position in Apple by 452.7% in the 3rd quarter. JJJ Advisors Inc. now owns 7,136 shares of the iPhone maker’s stock worth $826,000 after purchasing an additional 5,845 shares during the period. Institutional investors own 57.77% of the company’s stock.
Shares of AAPL stock opened at $126.00 on Tuesday. The company has a market cap of $2.12 trillion, a PE ratio of 38.65, a price-to-earnings-growth ratio of 2.75 and a beta of 1.28. Apple Inc. has a 1 year low of $53.15 and a 1 year high of $145.09. The stock’s 50 day simple moving average is $133.27 and its two-hundred day simple moving average is $122.58. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.36 and a quick ratio of 1.33.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 11th. Stockholders of record on Monday, February 8th were issued a $0.205 dividend. The ex-dividend date of this dividend was Friday, February 5th. This represents a $0.82 annualized dividend and a dividend yield of 0.65%. Apple’s dividend payout ratio (DPR) is presently 25.00%.
A number of research firms recently commented on AAPL. Cowen upped their price objective on Apple from $133.00 to $153.00 and gave the company an “outperform” rating in a research report on Friday, January 22nd. Credit Suisse Group boosted their price objective on shares of Apple from $120.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, January 28th. They noted that the move was a valuation call. Evercore ISI lifted their target price on Apple from $145.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday, January 25th. Canaccord Genuity raised their price objective on Apple from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 28th. Finally, Fundamental Research boosted their price objective on Apple from $113.91 to $148.12 and gave the company a “buy” rating in a research note on Friday, February 5th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-seven have assigned a buy rating to the company. Apple presently has an average rating of “Buy” and an average target price of $133.61.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.
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