Apple Inc. (NASDAQ:AAPL) Shares Sold by Mid American Wealth Advisory Group Inc.

Mid American Wealth Advisory Group Inc. lessened its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,288 shares of the iPhone maker’s stock after selling 415 shares during the quarter. Apple comprises about 1.6% of Mid American Wealth Advisory Group Inc.’s investment portfolio, making the stock its 19th biggest holding. Mid American Wealth Advisory Group Inc.’s holdings in Apple were worth $2,284,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wyrmwood Management LLC boosted its stake in Apple by 69.0% in 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 during the period. Gilfoyle & Co LLC boosted its stake in shares of Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after buying an additional 118 shares during the period. PayPay Securities Corp boosted its stake in shares of Apple by 70.2% during the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock valued at $87,000 after buying an additional 210 shares during the period. Cordant Inc. boosted its stake in shares of 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 buying an additional 140 shares during the period. Finally, Friedenthal Financial acquired a new stake in shares of Apple during the 4th quarter valued at $111,000. 60.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 4,999 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the transaction, the insider now owns 29,278 shares in the company, valued at approximately $5,574,531.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Jeffrey E. Williams sold 59,162 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at $84,378,155.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chris Kondo sold 4,999 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total value of $951,809.60. Following the completion of the transaction, the insider now directly owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 271,270 shares of company stock valued at $46,511,696. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

AAPL has been the subject of a number of research reports. Loop Capital decreased their target price on shares of Apple from $185.00 to $170.00 and set a “hold” rating for the company in a research note on Monday, April 1st. Bank of America reiterated a “buy” rating and issued a $230.00 target price on shares of Apple in a report on Wednesday. Tigress Financial lifted their target price on shares of Apple from $240.00 to $245.00 and gave the stock a “strong-buy” rating in a report on Thursday. Needham & Company LLC restated a “buy” rating and set a $220.00 price objective on shares of Apple in a report on Friday, May 3rd. Finally, Rosenblatt Securities restated a “neutral” rating and set a $196.00 price objective (up previously from $189.00) on shares of Apple in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $205.59.

Get Our Latest Stock Analysis on Apple

Apple Trading Up 0.5 %

AAPL stock opened at $192.25 on Friday. The firm’s fifty day simple moving average is $177.53 and its two-hundred day simple moving average is $183.25. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $2.95 trillion, a price-to-earnings ratio of 29.90, a price-to-earnings-growth ratio of 2.33 and a beta of 1.26. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $199.62.

Apple (NASDAQ:AAPLGet Free Report) last issued its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. The company had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.52 EPS. As a group, analysts anticipate that Apple Inc. will post 6.57 earnings per share for the current year.

Apple declared that its Board of Directors has authorized a share repurchase plan on Thursday, May 2nd that permits the company to repurchase $110.00 billion in shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were given a dividend of $0.25 per share. This is an increase from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 0.52%. The ex-dividend date was Friday, May 10th. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Apple Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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