Valley Wealth Managers Inc. Sells 1,423 Shares of Apple Inc. (NASDAQ:AAPL)

Valley Wealth Managers Inc. trimmed its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 203,754 shares of the iPhone maker's stock after selling 1,423 shares during the quarter. Apple makes up 3.8% of Valley Wealth Managers Inc.'s investment portfolio, making the stock its 2nd largest position. Valley Wealth Managers Inc.'s holdings in Apple were worth $51,024,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Amara Financial LLC. acquired a new stake in Apple during the 3rd quarter worth $288,000. Silicon Valley Capital Partners raised its stake in Apple by 12.8% during the 3rd quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker's stock worth $59,122,000 after acquiring an additional 28,799 shares in the last quarter. Catalyst Financial Partners LLC increased its stake in Apple by 4.2% in the third quarter. Catalyst Financial Partners LLC now owns 96,589 shares of the iPhone maker's stock valued at $22,505,000 after purchasing an additional 3,935 shares during the period. Vestcor Inc increased its stake in Apple by 10.1% in the third quarter. Vestcor Inc now owns 375,539 shares of the iPhone maker's stock valued at $87,501,000 after purchasing an additional 34,414 shares during the period. Finally, 5th Street Advisors LLC increased its stake in Apple by 32.9% in the third quarter. 5th Street Advisors LLC now owns 15,100 shares of the iPhone maker's stock valued at $3,518,000 after purchasing an additional 3,736 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Jeffrey E. Williams sold 35,493 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the sale, the chief operating officer now owns 390,059 shares of the company's stock, valued at $87,377,116.59. This represents a 8.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of the business's stock in a transaction dated 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 sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 187,021 shares of company stock worth $41,760,140. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AAPL shares. TD Cowen restated a "buy" rating on shares of Apple in a research note on Tuesday, January 28th. Maxim Group boosted their price target on shares of Apple to $215.00 and gave the stock a "hold" rating in a research note on Friday, February 21st. KeyCorp upgraded shares of Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Wedbush lowered their price target on shares of Apple from $325.00 to $250.00 and set an "outperform" rating on the stock in a research note on Monday, April 7th. Finally, Moffett Nathanson reiterated a "sell" rating and issued a $188.00 price objective (down from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $234.31.

Apple Stock Up 0.4 %

NASDAQ:AAPL traded up $0.86 during trading hours on Monday, hitting $210.14. The stock had a trading volume of 38,624,393 shares, compared to its average volume of 56,741,088. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a 1-year low of $169.11 and a 1-year high of $260.10. The business has a 50 day simple moving average of $215.01 and a two-hundred day simple moving average of $229.19. The company has a market cap of $3.16 trillion, a PE ratio of 33.36, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.48%. Apple's dividend payout ratio (DPR) is presently 15.87%.

About Apple

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.