DORCHESTER WEALTH MANAGEMENT Co Has $59.03 Million Stake in Apple Inc. (NASDAQ:AAPL)

DORCHESTER WEALTH MANAGEMENT Co trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.5% during the third quarter, HoldingsChannel reports. The firm owned 253,354 shares of the iPhone maker’s stock after selling 3,862 shares during the quarter. Apple accounts for about 10.4% of DORCHESTER WEALTH MANAGEMENT Co’s investment portfolio, making the stock its biggest holding. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Apple were worth $59,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Hershey Financial Advisers LLC bought a new stake in shares of Apple during the 2nd quarter valued at $42,000. Christopher J. Hasenberg Inc increased its position in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after buying an additional 144 shares during the period. Cordant Inc. lifted its holdings in shares of Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after buying an additional 173 shares in the last quarter. Hoese & Co LLP boosted its position in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares during the period. Finally, Sage Financial Group Inc. purchased a new position in Apple during the second quarter valued at approximately $206,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,130 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the transaction, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 508,170 shares of company stock valued at $117,004,745 in the last ninety days. Insiders own 0.06% of the company’s stock.

Apple Stock Up 1.9 %

Shares of AAPL opened at $254.49 on Monday. The company’s 50-day simple moving average is $234.97 and its 200-day simple moving average is $225.70. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $255.00. The stock has a market capitalization of $3.85 trillion, a PE ratio of 41.86, a P/E/G ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter in the prior year, the business earned $1.46 EPS. Apple’s revenue was up 6.1% on a year-over-year basis. Analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. Apple’s dividend payout ratio is presently 16.45%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AAPL. Rosenblatt Securities boosted their target price on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Wedbush restated an “outperform” rating and issued a $300.00 price objective on shares of Apple in a research report on Friday, November 29th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 target price on shares of Apple in a research report on Tuesday, December 10th. Melius Research reissued a “buy” rating and issued a $265.00 price target on shares of Apple in a report on Tuesday, August 27th. Finally, Maxim Group lifted their price objective on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $236.78.

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.