Fogel Capital Management Inc. Cuts Holdings in Apple Inc. (NASDAQ:AAPL)

Fogel Capital Management Inc. reduced its position in Apple Inc. (NASDAQ:AAPL) by 1.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 19,425 shares of the iPhone maker’s stock after selling 325 shares during the period. Apple accounts for 2.4% of Fogel Capital Management Inc.’s investment portfolio, making the stock its 14th largest holding. Fogel Capital Management Inc.’s holdings in Apple were worth $4,865,000 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. Amara Financial LLC. bought a new stake in shares of Apple in the 3rd quarter worth about $288,000. Sterling Investment Counsel LLC increased its stake in Apple by 3.8% during the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after acquiring an additional 2,565 shares during the last quarter. Silicon Valley Capital Partners raised its position in Apple by 12.8% during the third quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock valued at $59,122,000 after purchasing an additional 28,799 shares during the period. Catalyst Financial Partners LLC boosted its holdings in shares of Apple by 4.2% in the 3rd quarter. Catalyst Financial Partners LLC now owns 96,589 shares of the iPhone maker’s stock worth $22,505,000 after purchasing an additional 3,935 shares during the period. Finally, Narwhal Capital Management increased its position in shares of Apple by 2.5% during the 3rd quarter. Narwhal Capital Management now owns 276,791 shares of the iPhone maker’s stock valued at $64,492,000 after purchasing an additional 6,711 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the transaction, the chief operating officer now directly owns 390,059 shares of the company’s stock, valued at $87,377,116.59. This trade represents a 8.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the sale, the chief executive officer now directly owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This represents a 3.19 % decrease in their position. 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 in the last ninety days. 0.06% of the stock is owned by insiders.

Apple Stock Performance

Shares of Apple stock opened at $188.38 on Friday. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The company has a market capitalization of $2.83 trillion, a PE ratio of 29.90, a P/E/G ratio of 2.44 and a beta of 1.18. 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 50-day simple moving average of $229.45 and a two-hundred day simple moving average of $232.96.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.53%. Apple’s payout ratio is 15.87%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AAPL. Argus upgraded Apple to a “strong-buy” rating in a research report on Friday, January 31st. Loop Capital cut shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price target for the company. in a research note on Tuesday, January 21st. Barclays increased their price objective 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. The Goldman Sachs Group restated a “buy” rating on shares of Apple in a research report on Wednesday, February 19th. Finally, Raymond James increased their price target on Apple to $250.00 and gave the stock a “buy” rating in a report on Friday. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $245.26.

Apple 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.