Carlton Hofferkamp & Jenks Wealth Management LLC Sells 250 Shares of Apple Inc. (NASDAQ:AAPL)

Carlton Hofferkamp & Jenks Wealth Management LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 0.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 43,960 shares of the iPhone maker’s stock after selling 250 shares during the period. Apple accounts for approximately 3.6% of Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings, making the stock its 5th largest holding. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Apple were worth $8,550,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kingdom Financial Group LLC. lifted its stake in shares of Apple by 5.5% in the 3rd quarter. Kingdom Financial Group LLC. now owns 11,464 shares of the iPhone maker’s stock valued at $1,963,000 after purchasing an additional 598 shares in the last quarter. RFG Advisory LLC raised its holdings in shares of Apple by 13.6% during the 3rd quarter. RFG Advisory LLC now owns 172,823 shares of the iPhone maker’s stock valued at $29,589,000 after buying an additional 20,737 shares during the period. Headinvest LLC raised its holdings in shares of Apple by 1.7% during the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock valued at $9,236,000 after buying an additional 872 shares during the period. Sound Income Strategies LLC raised its holdings in shares of Apple by 16.1% during the 4th quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock valued at $14,461,000 after buying an additional 10,425 shares during the period. Finally, DNB Asset Management AS raised its holdings in shares of Apple by 6.9% during the 4th quarter. DNB Asset Management AS now owns 4,307,068 shares of the iPhone maker’s stock valued at $829,240,000 after buying an additional 279,311 shares during the period. 60.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Apple

In other news, COO Jeffrey E. Williams sold 59,162 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $172.22, for a total value of $10,188,879.64. Following the completion of the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $84,378,155.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the completion of the transaction, the director now owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey E. Williams sold 59,162 shares of the firm’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $172.22, for a total value of $10,188,879.64. Following the transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at approximately $84,378,155.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 366,271 shares of company stock valued at $63,653,887. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AAPL has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $220.00 target price on shares of Apple in a report on Tuesday, April 16th. Redburn Partners lowered Apple to a “neutral” rating and set a $200.00 target price on the stock. in a research report on Wednesday, January 10th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $189.00 target price on shares of Apple in a research report on Tuesday, March 5th. JPMorgan Chase & Co. cut their target price on Apple from $215.00 to $210.00 and set an “overweight” rating on the stock in a research report on Thursday, April 11th. Finally, Citigroup cut their target price on Apple from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $202.62.

Apple Price Performance

Shares of AAPL opened at $169.30 on Thursday. The company has a market cap of $2.61 trillion, a P/E ratio of 26.37, a PEG ratio of 2.09 and a beta of 1.27. The stock has a fifty day moving average price of $172.38 and a 200 day moving average price of $181.63. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $199.62.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.09. Apple had a return on equity of 156.04% and a net margin of 26.16%. The company had revenue of $119.60 billion during the quarter, compared to analysts’ expectations of $117.99 billion. During the same quarter in the prior year, the business posted $1.88 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, research analysts forecast that Apple Inc. will post 6.54 earnings per share for the current year.

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.