Apple Inc. (NASDAQ:AAPL) Position Reduced by Mayfair Advisory Group LLC

Mayfair Advisory Group LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 7.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 29,905 shares of the iPhone maker’s stock after selling 2,335 shares during the quarter. Apple accounts for approximately 4.7% of Mayfair Advisory Group LLC’s investment portfolio, making the stock its 6th largest holding. Mayfair Advisory Group LLC’s holdings in Apple were worth $5,552,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Atlantic Private Wealth LLC purchased a new position in Apple in the first quarter valued at approximately $30,000. Wyrmwood Management LLC grew its position in Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after acquiring an additional 69 shares in the last quarter. Gilfoyle & Co LLC grew its position in Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after acquiring an additional 118 shares in the last quarter. Summit Wealth Group LLC grew its position in Apple by 16,252.3% in the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 6,949,659 shares in the last quarter. Finally, HBC Financial Services PLLC grew its position in Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after acquiring an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $220.00 price objective on shares of Apple in a research report on Friday, March 22nd. UBS Group reaffirmed a “hold” rating and issued a $190.00 price objective on shares of Apple in a research report on Monday, March 25th. Piper Sandler lowered their price objective on shares of Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. Redburn Partners downgraded shares of Apple to a “neutral” rating and set a $200.00 price objective for the company. in a research report on Wednesday, January 10th. Finally, Bank of America raised shares of Apple from a “neutral” rating to a “buy” rating and raised their price target for the stock from $208.00 to $225.00 in a research report on Thursday, January 18th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $203.34.

Insider Activity at Apple

In related news, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at $18,768,046.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Arthur D. Levinson sold 100,000 shares of Apple 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 transaction, the director now directly owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $174.12, for a total value of $9,262,139.28. Following the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $18,768,046.56. The disclosure for this sale can be found here. Insiders have sold a total of 366,271 shares of company stock worth $63,653,887 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Apple Price Performance

Shares of NASDAQ AAPL opened at $168.00 on Thursday. Apple Inc. has a fifty-two week low of $162.80 and a fifty-two week high of $199.62. The firm’s 50-day simple moving average is $175.57 and its 200 day simple moving average is $182.21. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. The stock has a market cap of $2.59 trillion, a P/E ratio of 26.17, a P/E/G ratio of 2.08 and a beta of 1.27.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.09. Apple had a net margin of 26.16% and a return on equity of 156.04%. The business had revenue of $119.60 billion for the quarter, compared to analysts’ expectations of $117.99 billion. During the same period in the previous year, the business earned $1.88 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. Equities analysts expect that Apple Inc. will post 6.54 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s dividend payout ratio is currently 14.95%.

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.