Apple Inc. (NASDAQ:AAPL) is DORCHESTER WEALTH MANAGEMENT Co’s Largest Position

DORCHESTER WEALTH MANAGEMENT Co increased its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 9.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 266,357 shares of the iPhone maker’s stock after acquiring an additional 22,379 shares during the quarter. Apple comprises approximately 7.3% of DORCHESTER WEALTH MANAGEMENT Co’s holdings, making the stock its biggest position. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Apple were worth $36,416,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AAPL. EverSource Wealth Advisors LLC grew its holdings in Apple by 8.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 74,619 shares of the iPhone maker’s stock valued at $13,029,000 after buying an additional 5,703 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Apple during the 1st quarter valued at approximately $171,000. Emerald Advisors LLC grew its holdings in Apple by 2.4% during the 2nd quarter. Emerald Advisors LLC now owns 19,905 shares of the iPhone maker’s stock valued at $2,721,000 after buying an additional 465 shares in the last quarter. Chico Wealth RIA purchased a new stake in Apple during the 1st quarter valued at approximately $7,794,000. Finally, Sageworth Trust Co grew its holdings in Apple by 150.3% during the 2nd quarter. Sageworth Trust Co now owns 5,798 shares of the iPhone maker’s stock valued at $793,000 after buying an additional 3,482 shares in the last quarter. 57.72% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

Shares of Apple stock opened at $151.07 on Friday. The firm has a market cap of $2.40 trillion, a P/E ratio of 24.73, a P/E/G ratio of 1.92 and a beta of 1.25. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.95. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The stock’s fifty day moving average price is $146.62 and its 200-day moving average price is $149.67.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, beating the consensus estimate of $1.27 by $0.02. The firm had revenue of $90.15 billion for the quarter, compared to analyst estimates of $88.77 billion. Apple had a return on equity of 160.90% and a net margin of 25.31%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.24 earnings per share. On average, equities research analysts expect that Apple Inc. will post 6.26 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were paid a $0.23 dividend. The ex-dividend date was Friday, November 4th. This represents a $0.92 annualized dividend and a yield of 0.61%. Apple’s dividend payout ratio (DPR) is presently 15.06%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AAPL. Morgan Stanley cut their price objective on shares of Apple from $177.00 to $175.00 and set an “overweight” rating for the company in a report on Tuesday, November 8th. Credit Suisse Group set a $184.00 target price on Apple in a research report on Thursday. Evercore ISI increased their target price on Apple from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Tuesday, September 20th. Bank of America lowered their target price on Apple from $160.00 to $154.00 and set a “neutral” rating for the company in a research report on Monday, November 7th. Finally, Fundamental Research increased their target price on Apple to $168.50 and gave the company a “buy” rating in a research report on Tuesday, November 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $176.26.

Insider Buying and Selling at Apple

In other Apple news, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the transaction, the chief financial officer now owns 110,673 shares in the company, valued at $17,259,454.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Apple news, SVP Deirdre O’brien sold 8,053 shares of the firm’s stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $142.45, for a total value of $1,147,149.85. Following the completion of the sale, the senior vice president now owns 136,290 shares of the company’s stock, valued at $19,414,510.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Luca Maestri sold 176,299 shares of the firm’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the completion of the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The disclosure for this sale can be found here. Insiders have sold 380,851 shares of company stock worth $56,707,789 over the last quarter. Insiders own 0.06% of the company’s stock.

Apple Profile

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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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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