Davis Rea LTD. Lowers Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Davis Rea LTD. reduced its position in Apple Inc. (NASDAQ:AAPL) by 4.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 20,671 shares of the iPhone maker’s stock after selling 1,075 shares during the quarter. Apple makes up 2.0% of Davis Rea LTD.’s holdings, making the stock its 19th biggest holding. Davis Rea LTD.’s holdings in Apple were worth $3,980,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Wyrmwood Management LLC lifted its stake in Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 69 shares during the last quarter. Gilfoyle & Co LLC increased its holdings in shares of 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 period. PayPay Securities Corp lifted its stake in shares of Apple by 70.2% in the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock valued at $87,000 after acquiring an additional 210 shares during the last quarter. Cordant Inc. boosted its holdings in Apple by 27.7% during the 3rd 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 period. Finally, Life Planning Partners Inc bought a new position in Apple during the 4th quarter worth approximately $132,000. 60.41% of the stock is currently owned by institutional investors.

Insider Activity at Apple

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

Wall Street Analyst Weigh In

AAPL has been the subject of several recent research reports. Morgan Stanley dropped their price objective on Apple from $220.00 to $210.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Monness Crespi & Hardt increased their price target on shares of Apple from $189.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. UBS Group restated a “hold” rating and issued a $190.00 price objective on shares of Apple in a research report on Monday, March 25th. Redburn Atlantic lowered shares of Apple from a “buy” rating to a “neutral” rating and set a $200.00 target price for the company. in a report on Wednesday, January 10th. Finally, Citigroup reduced their price target on Apple from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.62.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $173.50 on Tuesday. The company has a market capitalization of $2.68 trillion, a PE ratio of 27.02, a PEG ratio of 2.04 and a beta of 1.27. The business has a fifty day moving average price of $172.86 and a 200-day moving average price of $181.77. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $199.62. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02.

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

Apple Dividend Announcement

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

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.