DORCHESTER WEALTH MANAGEMENT Co Sells 3,862 Shares of Apple Inc. (NASDAQ:AAPL)

DORCHESTER WEALTH MANAGEMENT Co trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 253,354 shares of the iPhone maker’s stock after selling 3,862 shares during the quarter. Apple comprises about 10.4% of DORCHESTER WEALTH MANAGEMENT Co’s portfolio, making the stock its biggest position. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Apple were worth $59,032,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of AAPL. Fiduciary Planning LLC boosted its position in Apple by 12.1% during the third quarter. Fiduciary Planning LLC now owns 14,015 shares of the iPhone maker’s stock worth $3,265,000 after purchasing an additional 1,510 shares during the period. Greystone Financial Group LLC lifted its stake in shares of Apple by 1.0% during the 3rd quarter. Greystone Financial Group LLC now owns 82,647 shares of the iPhone maker’s stock valued at $19,257,000 after buying an additional 830 shares in the last quarter. Dixon Fnancial Services Inc. boosted its holdings in Apple by 1.2% in the 3rd quarter. Dixon Fnancial Services Inc. now owns 16,967 shares of the iPhone maker’s stock worth $3,953,000 after buying an additional 205 shares during the period. Global Assets Advisory LLC grew its stake in Apple by 12.0% in the 3rd quarter. Global Assets Advisory LLC now owns 63,613 shares of the iPhone maker’s stock valued at $14,390,000 after buying an additional 6,821 shares in the last quarter. Finally, JCIC Asset Management Inc. raised its holdings in Apple by 0.6% during the 3rd quarter. JCIC Asset Management Inc. now owns 111,561 shares of the iPhone maker’s stock valued at $25,994,000 after acquiring an additional 670 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $111,148,695.84. The trade was a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 508,170 shares of company stock worth $117,004,745. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Tigress Financial upped their target price on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 28th. Wells Fargo & Company upped their price objective on shares of Apple to $275.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Evercore ISI reaffirmed a “buy” rating and set a $250.00 target price on shares of Apple in a report on Thursday, September 26th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Apple in a research note on Tuesday, December 10th. Finally, Loop Capital reduced their price objective on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $236.78.

Apple Price Performance

Shares of AAPL stock opened at $254.49 on Monday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a market capitalization of $3.85 trillion, a PE ratio of 41.86, a PEG ratio of 2.41 and a beta of 1.23. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $255.00. The stock’s fifty day moving average is $234.97 and its 200-day moving average is $225.70.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same quarter last year, the firm earned $1.46 EPS. Apple’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts expect that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.39%. Apple’s payout ratio is 16.45%.

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.