IVC Wealth Advisors LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,107 shares of the iPhone maker’s stock after selling 888 shares during the period. Apple makes up approximately 8.9% of IVC Wealth Advisors LLC’s investment portfolio, making the stock its 2nd biggest position. IVC Wealth Advisors LLC’s holdings in Apple were worth $13,813,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the company. Daniels&Tansey LLP boosted its position in shares of Apple by 1.6% during the 4th quarter. Daniels&Tansey LLP now owns 3,858 shares of the iPhone maker’s stock worth $685,000 after purchasing an additional 60 shares in the last quarter. Donald L. Hagan LLC boosted its position in shares of Apple by 0.3% during the 1st quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock worth $3,181,000 after purchasing an additional 61 shares in the last quarter. Goodwin Daniel L boosted its position in shares of Apple by 0.5% during the 1st quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock worth $2,230,000 after purchasing an additional 62 shares in the last quarter. Opus Capital Group LLC boosted its position in shares of Apple by 0.3% during the 1st quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock worth $3,332,000 after purchasing an additional 63 shares in the last quarter. Finally, Norwood Financial Corp boosted its position in shares of Apple by 0.9% during the 1st quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock worth $1,227,000 after purchasing an additional 65 shares in the last quarter. 57.98% of the stock is currently owned by institutional investors and hedge funds.
Apple Stock Down 0.6 %
AAPL opened at $161.51 on Tuesday. The company has a 50 day moving average of $144.68 and a 200 day moving average of $157.12. The company has a market cap of $2.61 trillion, a PE ratio of 26.65, a price-to-earnings-growth ratio of 2.11 and a beta of 1.23. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63.
Apple declared that its Board of Directors has approved a stock buyback plan on Thursday, April 28th that permits the company to repurchase $90.00 billion in shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
Apple Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.57%. The ex-dividend date is Friday, August 5th. Apple’s payout ratio is 15.18%.
Insider Buying and Selling at Apple
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total value of $4,043,000.00. Following the completion of the transaction, the senior vice president now directly owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on AAPL shares. Bank of America cut their price objective on shares of Apple from $200.00 to $185.00 in a research report on Tuesday, July 26th. UBS Group set a $185.00 target price on shares of Apple in a report on Thursday, July 21st. Itau BBA Securities assumed coverage on shares of Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price on the stock. Morgan Stanley lowered their target price on shares of Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, July 20th. Finally, Wells Fargo & Company lowered their target price on shares of Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, July 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $179.04.
Apple Company Profile
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.
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