Apple Inc. $AAPL Stock Position Boosted by Physician Wealth Advisors Inc.

Physician Wealth Advisors Inc. boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 0.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,375 shares of the iPhone maker’s stock after buying an additional 188 shares during the quarter. Apple makes up about 2.9% of Physician Wealth Advisors Inc.’s holdings, making the stock its 8th largest position. Physician Wealth Advisors Inc.’s holdings in Apple were worth $16,965,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Instrumental Wealth LLC increased its holdings in Apple by 11.8% in the first quarter. Instrumental Wealth LLC now owns 8,411 shares of the iPhone maker’s stock valued at $1,760,000 after buying an additional 886 shares during the last quarter. Horizon Financial Services LLC increased its holdings in Apple by 20,644.1% in the first quarter. Horizon Financial Services LLC now owns 747,203 shares of the iPhone maker’s stock valued at $165,976,000 after buying an additional 743,601 shares during the last quarter. Equita Financial Network Inc. increased its holdings in Apple by 53.2% in the first quarter. Equita Financial Network Inc. now owns 7,116 shares of the iPhone maker’s stock valued at $1,581,000 after buying an additional 2,471 shares during the last quarter. Swmg LLC grew its holdings in shares of Apple by 7.7% during the first quarter. Swmg LLC now owns 7,656 shares of the iPhone maker’s stock worth $1,602,000 after purchasing an additional 545 shares during the last quarter. Finally, Krane Funds Advisors LLC grew its holdings in shares of Apple by 16.1% during the first quarter. Krane Funds Advisors LLC now owns 10,508 shares of the iPhone maker’s stock worth $2,334,000 after purchasing an additional 1,455 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several research reports. Scotiabank lowered Apple to a “market perform” rating in a report on Friday, May 2nd. Rosenblatt Securities reaffirmed a “neutral” rating and set a $217.00 price objective on shares of Apple in a report on Tuesday, July 29th. TD Cowen dropped their price objective on Apple from $290.00 to $275.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. DA Davidson reaffirmed a “buy” rating and set a $250.00 price objective on shares of Apple in a report on Friday, August 1st. Finally, UBS Group raised their price objective on Apple from $210.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $237.60.

Insider Buying and Selling

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

Apple Stock Down 0.3%

AAPL stock opened at $230.89 on Tuesday. The stock has a market capitalization of $3.43 trillion, a P/E ratio of 35.04, a PEG ratio of 2.42 and a beta of 1.16. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a 50 day moving average price of $210.28 and a two-hundred day moving average price of $212.94.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.40 EPS. As a group, sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s payout ratio is presently 15.78%.

Apple declared that its Board of Directors has authorized a share buyback plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Apple Company 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.