Apple Inc. $AAPL Shares Sold by Heritage Wealth Management Inc. CA

Heritage Wealth Management Inc. CA lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,514 shares of the iPhone maker’s stock after selling 670 shares during the quarter. Apple makes up about 4.0% of Heritage Wealth Management Inc. CA’s investment portfolio, making the stock its 5th largest position. Heritage Wealth Management Inc. CA’s holdings in Apple were worth $6,055,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC grew its holdings in Apple by 573,627.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after acquiring an additional 205,656,808 shares during the period. Nuveen LLC bought a new position in shares of Apple in the 1st quarter worth $17,472,482,000. Northern Trust Corp grew its stake in shares of Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares during the period. Amundi increased its holdings in Apple by 27.4% in the first quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock valued at $13,870,795,000 after purchasing an additional 14,651,321 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Apple by 14.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock valued at $26,220,566,000 after purchasing an additional 13,137,968 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Stock Down 0.7%

Apple stock opened at $273.33 on Thursday. The company has a 50 day moving average of $254.61 and a 200-day moving average of $226.08. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $277.32. The stock has a market capitalization of $4.04 trillion, a PE ratio of 41.48, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating the consensus estimate of $1.74 by $0.11. The business had revenue of $102.47 billion for the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.64 EPS. On average, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Monday, November 10th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, November 10th. Apple’s dividend payout ratio is currently 13.92%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AAPL shares. DZ Bank upgraded Apple from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Tuesday, November 4th. BMO Capital Markets reiterated a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. Cowen reissued a “buy” rating on shares of Apple in a research note on Monday, October 27th. Argus set a $325.00 price objective on shares of Apple and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Citigroup reiterated a “buy” rating and issued a $315.00 target price (up from $245.00) on shares of Apple in a report on Friday, October 31st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $278.22.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 3,752 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $271.23, for a total transaction of $1,017,654.96. Following the completion of the transaction, the insider owned 15,098 shares of the company’s stock, valued at $4,095,030.54. This represents a 19.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the transaction, the senior vice president directly owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 228,052 shares of company stock valued at $58,604,588 over the last ninety days. Company insiders own 0.06% of the company’s stock.

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.