BHK Investment Advisors LLC Reduces Stake in Apple Inc. (NASDAQ:AAPL)

BHK Investment Advisors LLC lessened its position in Apple Inc. (NASDAQ:AAPL) by 6.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,569 shares of the iPhone maker’s stock after selling 2,436 shares during the period. Apple comprises 3.4% of BHK Investment Advisors LLC’s portfolio, making the stock its 8th largest holding. BHK Investment Advisors LLC’s holdings in Apple were worth $9,158,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Drystone LLC bought a new position in Apple during the fourth quarter valued at approximately $25,000. Bull Oak Capital LLC lifted its position in Apple by 252.3% during 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. Hershey Financial Advisers LLC bought a new position in Apple during the second quarter valued at approximately $42,000. Life Planning Partners Inc bought a new position in Apple during the fourth quarter valued at approximately $47,000. Finally, Christopher J. Hasenberg Inc lifted its position in Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the period. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at Apple

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

AAPL opened at $239.07 on Friday. Apple Inc. has a fifty-two week low of $164.08 and a fifty-two week 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 company has a fifty day moving average of $237.56 and a 200 day moving average of $234.03. The stock has a market capitalization of $3.59 trillion, a price-to-earnings ratio of 37.95, a PEG ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS 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, sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.42%. Apple’s dividend payout ratio (DPR) is currently 15.87%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AAPL shares. The Goldman Sachs Group restated a “buy” rating on shares of Apple in a research report on Wednesday, February 19th. Moffett Nathanson reiterated a “sell” rating and issued a $188.00 price target (down from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Barclays increased their price target on shares of Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Bank of America increased their price target on shares of Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, Wedbush reiterated an “outperform” rating and issued a $325.00 price target on shares of Apple in a research report on Monday, March 3rd. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $243.88.

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.