Apple Inc. (NASDAQ:AAPL) Shares Sold by Heritage Oak Wealth Advisors LLC

Heritage Oak Wealth Advisors LLC cut its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 26.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,011 shares of the iPhone maker's stock after selling 6,145 shares during the quarter. Apple comprises 2.0% of Heritage Oak Wealth Advisors LLC's holdings, making the stock its 8th largest position. Heritage Oak Wealth Advisors LLC's holdings in Apple were worth $4,260,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Motiv8 Investments LLC increased its holdings in shares of Apple by 19.1% during the fourth quarter. Motiv8 Investments LLC now owns 8,156 shares of the iPhone maker's stock valued at $2,042,000 after acquiring an additional 1,306 shares in the last quarter. Alecta Tjanstepension Omsesidigt acquired a new position in Apple during the 4th quarter valued at approximately $148,231,000. Proficio Capital Partners LLC raised its holdings in shares of Apple by 23,555.4% in the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock worth $5,272,653,000 after buying an additional 20,966,232 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of Apple by 1.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 1,095,665 shares of the iPhone maker's stock worth $274,376,000 after buying an additional 18,954 shares during the last quarter. Finally, Kovack Advisors Inc. grew its holdings in shares of Apple by 10.7% during the fourth quarter. Kovack Advisors Inc. now owns 197,532 shares of the iPhone maker's stock valued at $49,466,000 after buying an additional 19,150 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Analyst Ratings Changes

AAPL has been the subject of several research reports. Barclays decreased their price objective on shares of Apple from $197.00 to $173.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. Redburn Partners set a $230.00 price objective on Apple in a research note on Friday, January 31st. KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a report on Monday, April 14th. Rosenblatt Securities downgraded Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target for the company. in a report on Friday, May 2nd. Finally, Bank of America dropped their price objective on shares of Apple from $250.00 to $240.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $235.80.

Insider Activity

In related news, CFO Kevan Parekh sold 4,570 shares of the 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 transaction, the chief financial officer now owns 4,569 shares of the company's stock, valued at approximately $941,214. This represents a 50.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the transaction, the chief executive officer now directly owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. This represents a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 187,021 shares of company stock valued at $41,760,140. Company insiders own 0.06% of the company's stock.

Apple Trading Up 0.5 %

Shares of Apple stock traded up $1.04 during mid-day trading on Friday, hitting $198.53. The stock had a trading volume of 36,406,804 shares, compared to its average volume of 56,072,498. The firm has a market cap of $2.98 trillion, a P/E ratio of 31.51, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. 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 firm has a 50-day moving average of $208.09 and a two-hundred day moving average of $227.38. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results 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 company had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. During the same quarter last year, the firm earned $1.53 earnings per share. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. Sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

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

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

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.