Physician Wealth Advisors Inc. Boosts Stock Position in Apple Inc. (NASDAQ:AAPL)

Physician Wealth Advisors Inc. lifted its position in Apple Inc. (NASDAQ:AAPLFree Report) by 0.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,648 shares of the iPhone maker’s stock after acquiring an additional 407 shares during the quarter. Apple accounts for approximately 2.7% of Physician Wealth Advisors Inc.’s investment portfolio, making the stock its 8th largest holding. Physician Wealth Advisors Inc.’s holdings in Apple were worth $12,813,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Apple during the 4th quarter valued at $33,912,466,000. International Assets Investment Management LLC lifted its stake in shares of Apple by 14,395.4% during the 4th quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock worth $136,119,470,000 after purchasing an additional 70,212,651 shares during the last quarter. Vanguard Group Inc. boosted its position in Apple by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after purchasing an additional 18,067,216 shares in the last quarter. Global Assets Advisory LLC grew its stake in Apple by 23,076.4% in the first quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock valued at $1,584,512,000 after purchasing an additional 9,200,345 shares during the last quarter. Finally, Cerity Partners LLC grew its position in shares of Apple by 130.1% in the 4th quarter. Cerity Partners LLC now owns 9,430,190 shares of the iPhone maker’s stock worth $1,815,594,000 after buying an additional 5,331,439 shares during the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Luca Maestri sold 53,194 shares of the company’s 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 completion of the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $18,768,046.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Arthur D. Levinson sold 75,000 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the sale, the director now owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 192,355 shares of company stock worth $34,771,329. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Monness Crespi & Hardt restated a “buy” rating and issued a $205.00 target price on shares of Apple in a research note on Thursday, June 6th. DA Davidson raised Apple from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $200.00 to $230.00 in a research report on Tuesday, June 11th. JPMorgan Chase & Co. upped their target price on Apple from $225.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. Barclays reissued an “underweight” rating and issued a $164.00 price target on shares of Apple in a report on Tuesday, June 11th. Finally, DZ Bank restated a “hold” rating and set a $180.00 price objective on shares of Apple in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average price target of $217.29.

Read Our Latest Report on AAPL

Apple Stock Up 0.4 %

Apple stock opened at $228.68 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. The stock has a market capitalization of $3.51 trillion, a PE ratio of 35.56, a price-to-earnings-growth ratio of 2.75 and a beta of 1.24. The business has a 50 day simple moving average of $199.69 and a 200-day simple moving average of $186.66. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $229.40.

Apple (NASDAQ:AAPLGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, topping the consensus estimate of $1.51 by $0.02. The company had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.52 EPS. On average, analysts anticipate that Apple Inc. will post 6.59 EPS for the current fiscal year.

Apple announced that its board has approved a stock repurchase plan on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in shares. This repurchase authorization authorizes the iPhone maker to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were paid a $0.25 dividend. The ex-dividend date was Friday, May 10th. This is a positive change from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Apple 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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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