Worth Financial Advisory Group LLC Sells 13,997 Shares of Apple Inc. (NASDAQ:AAPL)

Worth Financial Advisory Group LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 35.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,217 shares of the iPhone maker's stock after selling 13,997 shares during the period. Apple accounts for 3.9% of Worth Financial Advisory Group LLC's portfolio, making the stock its 3rd largest holding. Worth Financial Advisory Group LLC's holdings in Apple were worth $6,315,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AAPL. Foundation Wealth Management LLC PA bought a new stake in Apple in the 4th quarter worth approximately $1,212,000. Hardin Capital Partners LLC increased its stake in Apple by 1.6% in the fourth quarter. Hardin Capital Partners LLC now owns 5,218 shares of the iPhone maker's stock worth $1,307,000 after purchasing an additional 82 shares during the period. Cottage Street Advisors LLC increased its stake in Apple by 0.8% in the fourth quarter. Cottage Street Advisors LLC now owns 50,073 shares of the iPhone maker's stock worth $12,539,000 after purchasing an additional 395 shares during the period. Tyler Stone Wealth Management increased its stake in Apple by 1.3% in the fourth quarter. Tyler Stone Wealth Management now owns 117,832 shares of the iPhone maker's stock worth $29,508,000 after purchasing an additional 1,488 shares during the period. Finally, Graney & King LLC bought a new position in shares of Apple during the 4th quarter worth $2,150,000. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of recent research reports. The Goldman Sachs Group reissued a "buy" rating on shares of Apple in a research report on Wednesday, May 21st. Rosenblatt Securities downgraded Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target on the stock. in a research report on Friday, May 2nd. Morgan Stanley reissued an "overweight" rating and set a $235.00 price target on shares of Apple in a research report on Thursday. Citigroup reissued a "cautious" rating on shares of Apple in a research report on Monday, May 5th. Finally, Bank of America dropped their price objective on Apple from $250.00 to $240.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Apple presently has an average rating of "Moderate Buy" and a consensus price target of $235.02.

Insiders Place Their Bets

In other Apple news, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the sale, the chief financial officer now owns 4,569 shares in the company, valued at approximately $941,214. This represents a 50.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Timothy D. Cook sold 108,136 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the sale, the chief executive officer now owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This represents a 3.19% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,507 shares of company stock worth $42,694,080. Corporate insiders own 0.06% of the company's stock.

Apple Stock Performance

Shares of NASDAQ:AAPL traded up $3.29 during trading on Friday, hitting $203.92. The stock had a trading volume of 46,477,335 shares, compared to its average volume of 56,154,463. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The stock has a market capitalization of $3.05 trillion, a price-to-earnings ratio of 32.37, a price-to-earnings-growth ratio of 2.44 and a beta of 1.22. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The stock has a 50-day simple moving average of $201.17 and a two-hundred day simple moving average of $224.15.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 160.83% and a net margin of 24.30%. The firm had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. During the same period last year, the business posted $1.53 earnings per share. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. Apple's payout ratio is presently 16.20%.

Apple announced that its board has approved a share buyback plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

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.