DORCHESTER WEALTH MANAGEMENT Co Has $55.94 Million Stake in Apple Inc. (NASDAQ:AAPL)

DORCHESTER WEALTH MANAGEMENT Co reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 290,556 shares of the iPhone maker’s stock after selling 3,200 shares during the period. Apple makes up about 10.1% of DORCHESTER WEALTH MANAGEMENT Co’s holdings, making the stock its largest holding. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Apple were worth $55,941,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AAPL. Clay Northam Wealth Management LLC boosted its position in Apple by 1.1% during the 4th quarter. Clay Northam Wealth Management LLC now owns 57,409 shares of the iPhone maker’s stock worth $11,053,000 after acquiring an additional 648 shares during the period. Howland Capital Management LLC boosted its position in Apple by 0.7% during the 4th quarter. Howland Capital Management LLC now owns 359,991 shares of the iPhone maker’s stock worth $69,309,000 after acquiring an additional 2,488 shares during the period. Better Money Decisions LLC boosted its position in Apple by 2.8% during the 4th quarter. Better Money Decisions LLC now owns 18,057 shares of the iPhone maker’s stock worth $3,477,000 after acquiring an additional 499 shares during the period. Beacon Financial Advisory LLC boosted its position in Apple by 3.0% during the 4th quarter. Beacon Financial Advisory LLC now owns 35,330 shares of the iPhone maker’s stock worth $6,802,000 after acquiring an additional 1,036 shares during the period. Finally, Arcadia Wealth Management LLC boosted its position in Apple by 3.4% during the 4th quarter. Arcadia Wealth Management LLC now owns 2,676 shares of the iPhone maker’s stock worth $515,000 after acquiring an additional 89 shares during the period. 60.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Apple news, CFO Luca Maestri sold 53,194 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 107,788 shares in the company, valued at approximately $18,768,046.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Jeffrey E. Williams sold 59,162 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $172.22, for a total value of $10,188,879.64. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at approximately $84,378,155.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Luca Maestri sold 53,194 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $18,768,046.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 366,271 shares of company stock worth $63,653,887. 0.06% of the stock is currently owned by company insiders.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $169.02 on Thursday. The business has a 50 day moving average price of $173.58 and a 200 day moving average price of $181.94. Apple Inc. has a twelve month low of $162.80 and a twelve month high of $199.62. The company has a market cap of $2.61 trillion, a price-to-earnings ratio of 26.33, a PEG ratio of 2.00 and a beta of 1.27. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28.

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

Apple Dividend Announcement

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

Wall Street Analyst Weigh In

AAPL has been the subject of a number of analyst reports. UBS Group reiterated a “hold” rating and set a $190.00 price target on shares of Apple in a research report on Monday, March 25th. Loop Capital cut their price objective on Apple from $185.00 to $170.00 and set a “hold” rating for the company in a report on Monday, April 1st. Bank of America upgraded Apple from a “neutral” rating to a “buy” rating and upped their price objective for the company from $208.00 to $225.00 in a report on Thursday, January 18th. The Goldman Sachs Group upped their price objective on Apple from $223.00 to $232.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Piper Sandler cut their price objective on Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $203.05.

Apple Profile

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.