Carr Financial Group Corp Sells 1,685 Shares of Apple Inc. (NASDAQ:AAPL)

Carr Financial Group Corp trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 7.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,840 shares of the iPhone maker's stock after selling 1,685 shares during the period. Apple accounts for 1.4% of Carr Financial Group Corp's portfolio, making the stock its 15th biggest position. Carr Financial Group Corp's holdings in Apple were worth $4,407,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AAPL. Life Planning Partners Inc bought a new position in shares of Apple during the 4th quarter valued at about $47,000. Conquis Financial LLC bought a new position in Apple during the fourth quarter valued at approximately $63,000. LSV Asset Management bought a new position in Apple during the fourth quarter valued at approximately $65,000. Pillar Financial Advisors LLC bought a new position in Apple during the fourth quarter valued at approximately $82,000. Finally, Compass Planning Associates Inc bought a new position in Apple during the fourth quarter valued at approximately $96,000. Institutional investors own 67.73% of the company's stock.

Insider Activity

In related news, insider Chris Kondo sold 4,486 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the sale, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company's stock.

Apple Stock Down 2.2%

Shares of NASDAQ AAPL traded down $4.62 during mid-day trading on Friday, hitting $202.95. 46,370,982 shares of the stock traded hands, compared to its average volume of 56,587,043. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The stock has a fifty day moving average price of $205.22 and a 200-day moving average price of $213.98. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a market cap of $3.03 trillion, a price-to-earnings ratio of 31.63, a PEG ratio of 2.30 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.40 earnings per share. Research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its Board of Directors has initiated a share buyback program on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 11th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. Apple's dividend payout ratio is currently 16.20%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Raymond James Financial reissued an "outperform" rating and issued a $240.00 price target (up previously from $230.00) on shares of Apple in a research report on Friday. Needham & Company LLC restated a "hold" rating on shares of Apple in a research note on Friday, July 25th. Evercore ISI raised their target price on Apple to $250.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. DA Davidson lifted their price target on shares of Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Finally, Tigress Financial lifted their price target on shares of Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a research note on Thursday, April 3rd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Apple presently has a consensus rating of "Moderate Buy" and a consensus price target of $237.25.

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.