Physician Wealth Advisors Inc. Trims Stock Position in Apple Inc. (NASDAQ:AAPL)

Physician Wealth Advisors Inc. decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.1% during the second quarter, HoldingsChannel reports. The firm owned 74,798 shares of the iPhone maker’s stock after selling 850 shares during the period. Apple makes up approximately 2.9% of Physician Wealth Advisors Inc.’s holdings, making the stock its 9th biggest holding. Physician Wealth Advisors Inc.’s holdings in Apple were worth $15,754,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Apple by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock worth $253,766,929,000 after acquiring an additional 18,067,216 shares during the last quarter. Norges Bank purchased a new position in shares of Apple in the fourth quarter valued at about $33,912,466,000. Wellington Management Group LLP raised its stake in shares of Apple by 3.6% during the fourth quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock valued at $11,677,190,000 after acquiring an additional 2,096,360 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Apple by 2.0% in the 4th quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker’s stock worth $10,531,834,000 after buying an additional 1,067,587 shares during the period. Finally, Capital International Investors boosted its holdings in Apple by 7.1% in the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after acquiring an additional 2,474,887 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is currently owned by company insiders.

Apple Stock Down 0.1 %

Shares of NASDAQ AAPL opened at $222.50 on Friday. The stock has a market capitalization of $3.38 trillion, a price-to-earnings ratio of 34.60, a P/E/G ratio of 2.62 and a beta of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.23. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The firm’s 50-day moving average price is $223.14 and its 200-day moving average price is $198.52.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter last year, the firm earned $1.26 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts anticipate that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of research reports. Tigress Financial boosted their target price on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 28th. Moffett Nathanson started coverage on shares of Apple in a report on Monday, August 19th. They issued a “neutral” rating and a $211.00 target price on the stock. Wedbush reiterated an “outperform” rating and set a $285.00 target price on shares of Apple in a research note on Monday, September 9th. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $260.00 target price on shares of Apple in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average price target of $238.62.

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.