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Sharp Financial Services LLC Sells 337 Shares of Apple Inc. (NASDAQ:AAPL)

Sharp Financial Services LLC Sells 337 Shares of Apple Inc. (NASDAQ:AAPL)

  • a day ago
  • etfdailynews.com
  • Keywords: GDPR

Sharp Financial Services LLC reduced its Apple Inc. holdings by selling 337 shares, decreasing its stake by 8.2% to 3,763 shares worth $942,000. Analysts have set a target price of $243.22 for Apple, with a consensus "Moderate Buy" rating.

Apple Services

Estimated market influence

Sharp Financial Services LLC

Positive
Analyst rating: N/A

Sharp Financial Services LLC sold 337 shares of Apple Inc., reducing their holdings by 8.2%.

Apple Inc.

Apple Inc.

Neutral
Analyst rating: Buy

Apple's stock was traded by multiple hedge funds, including a sale by Sharp Financial Services LLC and others increasing their stakes. The company announced a dividend and had positive analyst ratings with price target increases.

Context

Business Insights and Market Implications Analysis

Key Facts and Data Points:

  • Sharp Financial Services LLC reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 8.2% in the 4th quarter, selling 337 shares. The fund now owns 3,763 shares worth $942,000, representing 0.7% of its portfolio.
  • Institutional Ownership: Apple is owned by 67.73% institutional investors, with notable increases in stakes by:
    • International Assets Investment Management LLC (20,372.7% increase to 94,347,510 shares).
    • State Street Corp (10.6% increase to 584,010,284 shares).
    • Geode Capital Management LLC (6.5% increase to 333,857,500 shares).
    • FMR LLC (5.3% increase to 363,859,362 shares).
    • Charles Schwab Investment Management Inc. (6.6% increase to 94,942,731 shares).

Analyst Sentiment:

  • Multiple analysts raised price targets for Apple, including:
    • Raymond James: $250.00 (up from previous target).
    • DA Davidson: $290.00.
    • Redburn Partners: $230.00.
    • Citigroup: increased to $275.00.
    • JPMorgan Chase & Co.: increased to $270.00 with an "overweight" rating.
  • Consensus rating: "Moderate Buy" with a target price of $243.22.

Financial Performance:

  • Apple reported EPS of $2.40, beating estimates of $2.36, with a net margin of 24.30% and return on equity of 160.83%.
  • Dividend details: Annualized dividend of $1.00 (upcoming payment on February 13th), yield of 0.46%, and payout ratio of 15.87%.

Market Trends:

  • Apple's stock opened at $216.98, with a market cap of $3.26 trillion, P/E ratio of 34.44, and price-to-earnings-growth (PEG) ratio of 2.44.
  • The company has a 50-day moving average of $235.80 and a 200-day moving average of $234.00.

Product and Market Positioning:

  • Apple designs, manufactures, and markets smartphones (iPhone), personal computers (Mac), tablets (iPad), wearables, and accessories globally.
  • The company's diverse product lineup and strong financial performance indicate sustained market dominance in the tech sector.

Competitive Dynamics:

  • While not explicitly detailed, Apple's institutional ownership, analyst sentiment, and financial health suggest it remains a dominant player in the technology industry, likely facing competition from other major tech firms.

Strategic Considerations:

  • The reduction in holdings by Sharp Financial Services may indicate portfolio rebalancing or risk mitigation strategies.
  • The significant increases in stakes by major institutions highlight continued confidence in Apple's long-term growth potential.

Long-Term Effects and Regulatory Implications:

  • With 67.73% institutional ownership, Apple is a key holding for many investors, suggesting stability and long-term growth expectations.
  • No direct mention of regulatory impacts, but the strong financial performance and analyst sentiment suggest minimal near-term risks.

This analysis provides a concise overview of business insights and market implications based on the provided text, focusing on critical facts, numerical data, and trends.