Heritage Wealth Management Inc. Sells 1,505 Shares of Apple Inc. (NASDAQ:AAPL)

Heritage Wealth Management Inc. trimmed its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 76,562 shares of the iPhone maker's stock after selling 1,505 shares during the period. Apple accounts for approximately 6.4% of Heritage Wealth Management Inc.'s portfolio, making the stock its 2nd largest holding. Heritage Wealth Management Inc.'s holdings in Apple were worth $19,173,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the company. Drystone LLC purchased a new position in shares of Apple in the fourth quarter worth about $25,000. Life Planning Partners Inc purchased a new position in Apple in the 4th quarter valued at approximately $47,000. SPX Gestao de Recursos Ltda purchased a new position in Apple in the 3rd quarter valued at approximately $71,000. Teachers Insurance & Annuity Association of America bought a new stake in Apple during the 3rd quarter valued at $77,000. Finally, Compass Planning Associates Inc purchased a new stake in shares of Apple during the fourth quarter worth $96,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Up 0.5 %

Apple stock traded up $1.04 during trading hours on Friday, reaching $198.53. The stock had a trading volume of 36,406,804 shares, compared to its average volume of 56,093,894. The company has a market cap of $2.97 trillion, a price-to-earnings ratio of 31.51, a PEG ratio of 2.44 and a beta of 1.27. The business's 50 day moving average price is $208.09 and its 200-day moving average price is $227.36. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 160.83%. The company had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. During the same quarter in the prior 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. Sell-side analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in 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 management believes its shares are undervalued.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors 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%. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date is Monday, May 12th. Apple's payout ratio is 16.20%.

Insider Activity 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 shares were 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 in the company, valued at $941,214. This represents a 50.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction 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 $733,637,976.75. The trade was a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 187,021 shares of company stock valued at $41,760,140 in the last ninety days. Corporate insiders own 0.06% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on AAPL. Jefferies Financial Group reiterated an "underperform" rating and set a $170.62 price target (up from $167.88) on shares of Apple in a research report on Friday, May 2nd. Loop Capital lowered their target price on shares of Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. China Renaissance assumed coverage on shares of Apple in a research report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price target for the company. KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Finally, Wedbush lowered Apple from an "outperform" rating to a "neutral" rating in a research note on Friday, May 2nd. Four analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $235.80.

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.