Virginia Wealth Management Group Inc. Raises Holdings in Apple Inc. (NASDAQ:AAPL)

Virginia Wealth Management Group Inc. boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,618 shares of the iPhone maker’s stock after purchasing an additional 102 shares during the period. Apple comprises 3.4% of Virginia Wealth Management Group Inc.’s holdings, making the stock its 5th largest position. Virginia Wealth Management Group Inc.’s holdings in Apple were worth $5,414,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its stake in Apple by 10.6% in the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock valued at $136,074,372,000 after acquiring an additional 55,935,105 shares during the period. FMR LLC increased its stake in shares of Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after purchasing an additional 18,224,005 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Apple by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock valued at $77,542,863,000 after buying an additional 20,483,787 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Apple by 6.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock valued at $22,121,656,000 after buying an additional 5,893,741 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Apple by 20,372.7% in the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after buying an additional 93,886,664 shares during the period. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

In other news, CEO Timothy D. Cook sold 108,136 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the transaction, the chief executive officer now owns 3,280,295 shares in the company, valued at $733,637,976.75. This trade represents a 3.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the sale, the senior vice president now directly owns 179,158 shares in the company, valued at approximately $40,072,269.86. The trade was a 17.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 182,451 shares of company stock valued at $40,818,720 over the last three months. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Down 7.3 %

NASDAQ AAPL opened at $188.38 on Friday. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10. The stock has a market capitalization of $2.83 trillion, a PE ratio of 29.90, a PEG ratio of 2.44 and a beta of 1.18. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The business’s 50-day moving average is $229.45 and its 200 day moving average is $232.96.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio is currently 15.87%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Loop Capital cut Apple from a “buy” rating to a “hold” rating and set a $230.00 price target for the company. in a research report on Tuesday, January 21st. Redburn Partners set a $230.00 price target on Apple in a research report on Friday, January 31st. Sanford C. Bernstein increased their price target on shares of Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Bank of America reduced their price objective on shares of Apple from $265.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Jefferies Financial Group reiterated an “underperform” rating on shares of Apple in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $245.26.

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.