Wescott Financial Advisory Group LLC Has $14.55 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Wescott Financial Advisory Group LLC grew its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,082 shares of the iPhone maker's stock after acquiring an additional 1,842 shares during the quarter. Apple comprises approximately 1.5% of Wescott Financial Advisory Group LLC's portfolio, making the stock its 18th biggest holding. Wescott Financial Advisory Group LLC's holdings in Apple were worth $14,545,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. O Connor Financial Group LLC increased its stake in Apple by 1.2% during the fourth quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker's stock valued at $896,000 after purchasing an additional 41 shares during the last quarter. Hanseatic Management Services Inc. lifted its holdings in shares of Apple by 1.3% in the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock worth $945,000 after purchasing an additional 48 shares during the last quarter. Family Capital Management Inc. lifted its holdings in shares of Apple by 0.3% in the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock worth $4,235,000 after purchasing an additional 48 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of Apple by 0.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock worth $4,178,000 after purchasing an additional 48 shares during the last quarter. Finally, Scarborough Advisors LLC lifted its holdings in shares of Apple by 0.3% in the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock worth $3,992,000 after purchasing an additional 51 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Down 1.4%

Shares of AAPL stock traded down $2.75 on Friday, reaching $196.45. 51,345,532 shares of the company's stock traded hands, compared to its average volume of 54,742,937. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The company has a market capitalization of $2.93 trillion, a P/E ratio of 31.18, a price-to-earnings-growth ratio of 2.44 and a beta of 1.22. The business's 50 day moving average price is $201.76 and its two-hundred day moving average price is $223.02.

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

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a $0.26 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is 16.20%.

Apple announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages recently issued reports on AAPL. Wedbush reissued an "outperform" rating and issued a $270.00 price target on shares of Apple in a report on Tuesday, June 10th. Raymond James cut their price target on Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. UBS Group reissued a "buy" rating on shares of Apple in a report on Sunday, June 1st. KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Finally, China Renaissance began coverage on Apple in a research note on Tuesday, April 22nd. They set a "buy" rating and a $241.00 target price on the stock. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Apple has an average rating of "Moderate Buy" and an average price target of $234.86.

Insider Buying and Selling at Apple

In other news, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the sale, the chief operating officer now directly owns 390,059 shares of the company's stock, valued at approximately $87,377,116.59. This represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,507 shares of company stock worth $42,694,080 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

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.