Net Worth Advisory Group Has $2.74 Million Stake in Apple Inc. (NASDAQ:AAPL)

Net Worth Advisory Group boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 6.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,317 shares of the iPhone maker’s stock after purchasing an additional 723 shares during the period. Apple comprises about 0.9% of Net Worth Advisory Group’s portfolio, making the stock its 16th largest holding. Net Worth Advisory Group’s holdings in Apple were worth $2,736,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAPL. Advanced Portfolio Management LLC grew its stake in shares of Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock worth $3,260,000 after purchasing an additional 47 shares during the last quarter. Family Capital Management Inc. lifted its holdings in Apple by 0.3% during the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker’s stock worth $4,235,000 after buying an additional 48 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in Apple by 0.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker’s stock worth $4,178,000 after buying an additional 48 shares during the period. Scarborough Advisors LLC grew its position in shares of Apple by 0.3% in the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker’s stock valued at $3,992,000 after buying an additional 51 shares during the last quarter. Finally, Disciplined Investments LLC increased its stake in shares of Apple by 0.7% in the fourth quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker’s stock valued at $1,794,000 after buying an additional 51 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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 transaction of $941,420.00. Following the transaction, the chief financial officer owned 4,569 shares of the company’s stock, valued at $941,214. The trade was a 50.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Chris Kondo sold 4,486 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the sale, the insider owned 15,533 shares of the company’s stock, valued at $3,233,815.27. This trade represents a 22.41% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AAPL shares. The Goldman Sachs Group restated a “buy” rating on shares of Apple in a research report on Wednesday, May 21st. Loop Capital decreased their target price on shares of Apple from $230.00 to $215.00 and set a “hold” rating for the company in a research report on Wednesday, April 30th. Morgan Stanley restated an “overweight” rating on shares of Apple in a research report on Friday, June 13th. Evercore ISI increased their price objective on shares of Apple to $250.00 and gave the stock a “buy” rating in a research report on Friday, June 6th. Finally, Rosenblatt Securities lowered shares of Apple from a “buy” rating to a “neutral” rating and set a $217.00 target price on the stock. in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $235.27.

Apple Stock Performance

AAPL opened at $208.62 on Tuesday. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a market cap of $3.12 trillion, a price-to-earnings ratio of 32.50, a PEG ratio of 2.36 and a beta of 1.20. The company’s fifty day moving average price is $203.58 and its two-hundred day moving average price is $216.50. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The company had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. During the same period in the previous year, the firm posted $1.53 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple declared that its board has authorized a share repurchase plan on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a $0.26 dividend. The ex-dividend date was Monday, May 12th. This is an increase from Apple’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.50%. Apple’s dividend payout ratio is 16.20%.

Apple Profile

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.