Westbourne Investments Inc. Has $4.54 Million Position in Apple Inc. $AAPL

Westbourne Investments Inc. reduced its stake in Apple Inc. (NASDAQ:AAPL) by 24.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,126 shares of the iPhone maker’s stock after selling 7,195 shares during the period. Apple accounts for approximately 2.4% of Westbourne Investments Inc.’s investment portfolio, making the stock its 8th biggest position. Westbourne Investments Inc.’s holdings in Apple were worth $4,540,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Burkett Financial Services LLC raised its holdings in shares of Apple by 0.6% during the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock worth $3,199,000 after buying an additional 93 shares in the last quarter. Avid Wealth Partners LLC increased its position in Apple by 28.3% in the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after acquiring an additional 930 shares during the period. Bell & Brown Wealth Advisors LLC lifted its holdings in Apple by 0.4% during the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock worth $13,772,000 after buying an additional 240 shares during the period. OneAscent Wealth Management LLC boosted its stake in shares of Apple by 4.6% in the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock valued at $2,337,000 after purchasing an additional 409 shares during the last quarter. Finally, Andina Capital Management LLC grew its stake in Apple by 209.2% during the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after purchasing an additional 4,591 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Trading Down 0.6%

Shares of NASDAQ:AAPL opened at $254.43 on Wednesday. The company’s 50 day moving average is $226.20 and its two-hundred day moving average is $212.51. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The company has a market cap of $3.78 trillion, a PE ratio of 38.61, a P/E/G ratio of 2.66 and a beta of 1.11.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same period in the prior year, the company earned $1.40 earnings per share. The company’s revenue was up 9.6% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple’s payout ratio is 15.78%.

Insider Buying and Selling

In other news, SVP Deirdre O’brien sold 34,821 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction 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 $30,508,538.40. The trade was a 20.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on AAPL. Citigroup reissued a “buy” rating on shares of Apple in a research report on Wednesday, September 10th. Bank of America lifted their price target on shares of Apple from $260.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Morgan Stanley set a $240.00 price objective on shares of Apple and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Melius Research set a $290.00 target price on shares of Apple and gave the company a “buy” rating in a research report on Wednesday, September 10th. Finally, Rosenblatt Securities upped their price objective on Apple from $223.00 to $241.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $244.03.

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.