World Equity Group Inc. Reduces Stock Position in Apple Inc. (NASDAQ:AAPL)

World Equity Group Inc. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 80,766 shares of the iPhone maker’s stock after selling 3,107 shares during the quarter. Apple comprises approximately 4.3% of World Equity Group Inc.’s holdings, making the stock its 2nd largest position. World Equity Group Inc.’s holdings in Apple were worth $20,225,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Apple by 2.7% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 2,695,399 shares of the iPhone maker’s stock worth $674,983,000 after purchasing an additional 71,600 shares during the period. Ascent Wealth Partners LLC increased its stake in Apple by 6.5% during the fourth quarter. Ascent Wealth Partners LLC now owns 151,551 shares of the iPhone maker’s stock valued at $37,951,000 after acquiring an additional 9,293 shares during the period. Atlantic Family Wealth LLC acquired a new position in Apple in the 4th quarter valued at approximately $1,943,000. Delap Wealth Advisory LLC lifted its position in shares of Apple by 2.3% in the 4th quarter. Delap Wealth Advisory LLC now owns 17,818 shares of the iPhone maker’s stock worth $4,462,000 after acquiring an additional 394 shares during the period. Finally, Stevens Capital Partners grew its holdings in shares of Apple by 14.7% during the 4th quarter. Stevens Capital Partners now owns 10,969 shares of the iPhone maker’s stock worth $2,747,000 after purchasing an additional 1,405 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Stock Performance

Shares of Apple stock opened at $205.35 on Friday. The stock’s fifty day simple moving average is $212.15 and its 200 day simple moving average is $228.63. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $3.08 trillion, a PE ratio of 32.60, a PEG ratio of 2.44 and a beta of 1.26. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.03. Apple had a return on equity of 160.83% and a net margin of 24.30%. The company had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same quarter last year, the firm posted $1.53 earnings per share. Apple’s revenue was up 5.1% compared to the same quarter last year. On average, research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 12th will be paid a $0.26 dividend. The ex-dividend date is Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. This is a positive change from Apple’s previous quarterly dividend of $0.25. Apple’s payout ratio is presently 15.87%.

Apple declared that its board has authorized a stock repurchase program on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

AAPL has been the subject of several research reports. DA Davidson raised their target price on Apple from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday. Barclays reduced their price objective on shares of Apple from $197.00 to $173.00 and set an “underweight” rating for the company in a report on Wednesday. Bank of America lowered their target price on shares of Apple from $250.00 to $240.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Citigroup cut their price target on shares of Apple from $275.00 to $245.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Sanford C. Bernstein upped their price objective on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $233.25.

Insider Activity

In related news, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the sale, the chief financial officer now owns 4,569 shares of the company’s stock, valued at approximately $941,214. This trade represents a 50.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the sale, the chief operating officer now owns 390,059 shares in the company, valued at $87,377,116.59. The trade was a 8.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 187,021 shares of company stock worth $41,760,140 over the last quarter. 0.06% of the stock is currently owned by company insiders.

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.