Apple Inc. (NASDAQ:AAPL) Holdings Cut by IVC Wealth Advisors LLC

IVC Wealth Advisors LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,680 shares of the iPhone maker's stock after selling 2,029 shares during the quarter. Apple comprises approximately 7.1% of IVC Wealth Advisors LLC's investment portfolio, making the stock its 2nd largest position. IVC Wealth Advisors LLC's holdings in Apple were worth $13,257,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. OneAscent Wealth Management LLC grew its stake in Apple by 4.6% during the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock worth $2,337,000 after purchasing an additional 409 shares during the period. Allstate Corp boosted its holdings in shares of Apple by 3,368.2% during the 4th quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock worth $113,062,000 after buying an additional 438,471 shares in the last quarter. Vinva Investment Management Ltd grew its position in shares of Apple by 12.4% during the 4th quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker's stock worth $192,700,000 after buying an additional 83,997 shares during the period. Tradewinds Capital Management LLC grew its position in shares of Apple by 9.2% during the 4th quarter. Tradewinds Capital Management LLC now owns 21,198 shares of the iPhone maker's stock worth $5,308,000 after buying an additional 1,779 shares during the period. Finally, Berkshire Bank increased its stake in shares of Apple by 2.7% in the 4th quarter. Berkshire Bank now owns 89,580 shares of the iPhone maker's stock valued at $22,433,000 after acquiring an additional 2,360 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Insiders Place Their Bets

In related news, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the transaction, the chief financial officer now directly owns 4,569 shares of the company's stock, valued at approximately $941,214. This trade represents a 50.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the transaction, the insider now directly owns 15,533 shares of the company's stock, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,507 shares of company stock valued at $42,694,080. Company insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on AAPL. Scotiabank lowered shares of Apple to a "market perform" rating in a research note on Friday, May 2nd. Loop Capital dropped their price objective on shares of Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Bank of America restated a "buy" rating and issued a $235.00 target price on shares of Apple in a research note on Tuesday, June 10th. UBS Group reaffirmed a "buy" rating on shares of Apple in a research report on Sunday, June 1st. Finally, Citigroup reaffirmed a "buy" rating on shares of Apple in a research note on Tuesday, June 10th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $234.39.

Apple Stock Up 0.0%

NASDAQ:AAPL traded up $0.08 on Friday, hitting $201.08. The stock had a trading volume of 73,073,177 shares, compared to its average volume of 53,462,167. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The firm's fifty day simple moving average is $202.52 and its two-hundred day simple moving average is $220.53. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The stock has a market cap of $3.00 trillion, a P/E ratio of 31.32, a price-to-earnings-growth ratio of 2.25 and a beta of 1.22.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.03. The company had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. Apple's quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.53 earnings per share. Analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

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

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. Apple's dividend payout ratio (DPR) is currently 16.20%.

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.