Apple Inc. (NASDAQ:AAPL) Shares Sold by Wealth Advisors Inc.

Wealth Advisors Inc. cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 302,072 shares of the iPhone maker’s stock after selling 5,162 shares during the period. Apple comprises approximately 23.1% of Wealth Advisors Inc.’s investment portfolio, making the stock its biggest holding. Wealth Advisors Inc.’s holdings in Apple were worth $48,573,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. St. James Investment Advisors LLC lifted its position in Apple by 98.3% during the fourth quarter. St. James Investment Advisors LLC now owns 236 shares of the iPhone maker’s stock valued at $31,000 after purchasing an additional 117 shares during the period. Cheyne Capital Management UK LLP raised its position in shares of Apple by 200.0% in the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $212,000 after acquiring an additional 550 shares during the period. HBC Financial Services PLLC raised its position in shares of Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after acquiring an additional 80 shares during the period. PayPay Securities Corp acquired a new position in shares of Apple in the fourth quarter worth about $60,000. Finally, LFA Lugano Financial Advisors SA acquired a new position in shares of Apple in the fourth quarter worth about $93,000. 58.51% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Up 0.8 %

Shares of NASDAQ AAPL opened at $189.46 on Friday. The company has a 50 day simple moving average of $186.82 and a 200-day simple moving average of $173.22. The company has a market capitalization of $2.96 trillion, a P/E ratio of 31.84, a P/E/G ratio of 2.63 and a beta of 1.28. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.98 and a quick ratio of 0.92. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $198.23.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. The firm had revenue of $81.80 billion during the quarter, compared to analysts’ expectations of $81.79 billion. Apple had a net margin of 24.68% and a return on equity of 164.92%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the company posted $1.20 EPS. On average, equities research analysts predict that Apple Inc. will post 6.04 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.51%. Apple’s payout ratio is currently 16.13%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Robert W. Baird upped their price objective on shares of Apple from $180.00 to $204.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 1st. Tigress Financial upped their price objective on shares of Apple from $210.00 to $225.00 in a research report on Friday, June 23rd. Canaccord Genuity Group upped their price objective on shares of Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Wedbush reissued an “outperform” rating and set a $230.00 target price on shares of Apple in a research note on Thursday, August 17th. Finally, Atlantic Securities boosted their target price on shares of Apple from $180.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, May 5th. Ten equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $198.86.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 15,419 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $178.56, for a total transaction of $2,753,216.64. Following the completion of the transaction, the senior vice president now owns 136,445 shares of the company’s stock, valued at approximately $24,363,619.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

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.