Apple Inc. (NASDAQ:AAPL) Position Trimmed by Wealth Advisors of Tampa Bay LLC

Wealth Advisors of Tampa Bay LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 49.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,911 shares of the iPhone maker’s stock after selling 49,911 shares during the quarter. Apple accounts for 4.9% of Wealth Advisors of Tampa Bay LLC’s portfolio, making the stock its largest position. Wealth Advisors of Tampa Bay LLC’s holdings in Apple were worth $9,802,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Wyrmwood Management LLC raised its stake in shares of Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 69 shares in the last quarter. Gilfoyle & Co LLC increased its holdings in Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after buying an additional 118 shares during the last quarter. PayPay Securities Corp raised its position in Apple by 70.2% during the third quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock valued at $87,000 after acquiring an additional 210 shares in the last quarter. Cordant Inc. lifted its stake in Apple by 27.7% in the third quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock valued at $110,000 after acquiring an additional 140 shares during the last quarter. Finally, Life Planning Partners Inc bought a new stake in Apple in the fourth quarter worth approximately $132,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

Apple stock opened at $173.50 on Tuesday. The stock has a 50-day simple moving average of $172.86 and a 200 day simple moving average of $181.77. The stock has a market capitalization of $2.68 trillion, a price-to-earnings ratio of 27.02, a P/E/G ratio of 2.04 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 Inc. has a 12-month low of $164.07 and a 12-month high of $199.62.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, topping 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 company had revenue of $119.60 billion during the quarter, compared to the consensus estimate of $117.99 billion. During the same period in the previous year, the firm posted $1.88 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. On average, research analysts anticipate that Apple Inc. will post 6.54 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s dividend payout ratio is 14.95%.

Insiders Place Their Bets

In other news, SVP Deirdre O’brien sold 54,732 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the sale, the senior vice president now owns 136,572 shares in the company, valued at $23,068,376.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Arthur D. Levinson sold 100,000 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the transaction, the director now owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the sale, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 366,271 shares of company stock valued at $63,653,887. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AAPL has been the topic of several recent research reports. Wedbush restated an “outperform” rating and set a $250.00 target price on shares of Apple in a report on Tuesday, April 9th. Oppenheimer reiterated an “outperform” rating and set a $200.00 price target on shares of Apple in a report on Friday, February 2nd. Sanford C. Bernstein upgraded shares of Apple from a “market perform” rating to an “outperform” rating and set a $195.00 price objective on the stock in a research note on Monday. DA Davidson assumed coverage on shares of Apple in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $166.00 target price on the stock. Finally, Barclays reissued an “underweight” rating and issued a $158.00 price target on shares of Apple in a report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has given 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 a consensus target price of $202.62.

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.