Farther Finance Advisors LLC trimmed its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 13.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 272,948 shares of the iPhone maker's stock after selling 43,805 shares during the quarter. Apple accounts for 2.5% of Farther Finance Advisors LLC's holdings, making the stock its 4th largest holding. Farther Finance Advisors LLC's holdings in Apple were worth $68,352,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AAPL. State Street Corp boosted its stake 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 purchasing an additional 55,935,105 shares in the last quarter. Proficio Capital Partners LLC boosted its position in Apple by 23,555.4% during the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock valued at $5,272,653,000 after purchasing an additional 20,966,232 shares in the last quarter. Geode Capital Management LLC grew its stake in 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 last quarter. FMR LLC raised its holdings 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 purchasing an additional 18,224,005 shares in the last quarter. Finally, Strategic Financial Concepts LLC lifted its position in shares of Apple by 25,285.2% during the fourth quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker's stock valued at $2,411,260,000 after buying an additional 9,590,933 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

AAPL has been the topic of a number of analyst reports. Oppenheimer downgraded shares of Apple from an "outperform" rating to a "market perform" rating in a research report on Wednesday, January 29th. Maxim Group raised their price target on shares of Apple to $215.00 and gave the stock a "hold" rating in a report on Friday, February 21st. Rosenblatt Securities cut Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target for the company. in a research report on Friday, May 2nd. Wedbush reissued an "outperform" rating and issued a $270.00 price objective on shares of Apple in a report on Friday, May 16th. Finally, Loop Capital reduced their price target on shares of Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $235.80.

Read Our Latest Analysis on AAPL

In related news, SVP Katherine L. Adams sold 38,822 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the sale, the senior vice president now directly owns 179,158 shares in the company, valued at approximately $40,072,269.86. This trade represents a 17.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey E. Williams sold 35,493 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the transaction, the chief operating officer now owns 390,059 shares in the company, valued at $87,377,116.59. The trade was a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,507 shares of company stock valued at $42,694,080 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Shares of AAPL opened at $202.09 on Thursday. The stock has a 50 day moving average price of $205.64 and a 200 day moving average price of $226.26. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The stock has a market capitalization of $3.02 trillion, a price-to-earnings ratio of 32.08, a PEG ratio of 2.44 and a beta of 1.27.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The business had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.53 earnings per share. Equities research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were issued a $0.26 dividend. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. Apple's dividend payout ratio is presently 16.20%.

Apple declared that its board has approved a share repurchase plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board believes its stock is undervalued.

(Free Report)

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.

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 [email protected].

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