Compass Financial Services Inc Takes $1.31 Million Position in Apple Inc. (NASDAQ:AAPL)

Compass Financial Services Inc bought a new position in shares of Apple Inc. (NASDAQ:AAPL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,241 shares of the iPhone maker’s stock, valued at approximately $1,313,000. Apple comprises 0.7% of Compass Financial Services Inc’s portfolio, making the stock its 18th biggest position.

Several other institutional investors also recently bought and sold shares of AAPL. Drystone LLC bought a new position in shares of Apple during the 4th quarter valued at approximately $25,000. Bull Oak Capital LLC raised its stake 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 in the last quarter. SPX Gestao de Recursos Ltda bought a new position in Apple during the third quarter valued at $71,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Apple in the 3rd quarter worth $77,000. Finally, ARK Investment Management LLC bought a new stake in shares of Apple in the 3rd quarter worth about $110,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

NASDAQ AAPL opened at $198.15 on Friday. The company has a market cap of $2.98 trillion, a PE ratio of 31.45, a P/E/G ratio of 2.44 and a beta of 1.26. The firm’s 50 day moving average price is $222.87 and its 200-day moving average price is $231.14. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. Apple Inc. has a 52-week low of $164.08 and a 52-week high of $260.10.

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

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.50%. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price target on shares of Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Moffett Nathanson reiterated a “sell” rating and issued a $188.00 target price (down previously from $202.00) on shares of Apple in a report on Tuesday, January 7th. Bank of America cut their target price on Apple from $265.00 to $250.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Jefferies Financial Group upgraded Apple from an “underperform” rating to a “hold” rating and lowered their price target for the stock from $202.33 to $167.88 in a research report on Wednesday. Finally, Redburn Partners set a $230.00 price objective on shares of Apple in a research report on Friday, January 31st. Three analysts have rated the stock with a sell rating, ten have issued 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.com, the company has an average rating of “Moderate Buy” and an average price target of $240.26.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 108,136 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the sale, the chief executive officer now directly owns 3,280,295 shares in the company, valued at $733,637,976.75. This trade represents a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey E. Williams sold 35,493 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the transaction, the chief operating officer now directly owns 390,059 shares in the company, valued at approximately $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. Over the last ninety days, insiders sold 182,451 shares of company stock worth $40,818,720. 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.