World Equity Group Inc. Sells 3,107 Shares of Apple Inc. (NASDAQ:AAPL)

World Equity Group Inc. trimmed its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,766 shares of the iPhone maker's stock after selling 3,107 shares during the quarter. Apple makes up 4.3% of World Equity Group Inc.'s portfolio, making the stock its 2nd biggest position. World Equity Group Inc.'s holdings in Apple were worth $20,225,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. O Connor Financial Group LLC lifted its stake in Apple by 1.2% in the 4th 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. Menard Financial Group LLC lifted its position in shares of Apple by 0.4% in the third quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker's stock valued at $2,848,000 after buying an additional 48 shares during the last quarter. Hanseatic Management Services Inc. boosted its stake in shares of Apple by 1.3% during the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock worth $945,000 after acquiring an additional 48 shares during the period. Family Capital Management Inc. increased its holdings in shares of Apple by 0.3% during the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock worth $4,235,000 after acquiring an additional 48 shares during the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA raised its stake in 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 valued at $4,178,000 after acquiring an additional 48 shares during the period. 67.73% of the stock is owned by institutional investors.

Apple Price Performance

Shares of NASDAQ:AAPL traded down $7.97 during trading on Friday, hitting $205.35. 100,891,435 shares of the company were exchanged, compared to its average volume of 56,620,753. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a market capitalization of $3.08 trillion, a P/E ratio of 32.60, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. The business's 50 day moving average is $212.15 and its 200-day moving average is $228.63.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $94.04 billion. During the same quarter in the prior year, the firm earned $1.53 EPS. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. Equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple announced that its Board of Directors has approved a share buyback plan on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is 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 given a dividend of $0.26 per share. The ex-dividend date is Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.51%. Apple's dividend payout ratio (DPR) is currently 15.87%.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 38,822 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the transaction, the senior vice president now owns 179,158 shares in the company, valued at approximately $40,072,269.86. This trade represents a 17.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction on Wednesday, April 23rd. The shares were 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 directly owns 4,569 shares in the company, valued at approximately $941,214. This represents a 50.01 % 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. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on AAPL. Evercore ISI upped their price objective on shares of Apple from $260.00 to $275.00 and gave the company an "outperform" rating in a report on Tuesday, March 18th. Needham & Company LLC reiterated a "buy" rating and issued a $225.00 price target on shares of Apple in a research note on Friday. China Renaissance initiated coverage on shares of Apple in a research report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price objective for the company. Maxim Group upped their target price on Apple to $215.00 and gave the company a "hold" rating in a research report on Friday, February 21st. Finally, Raymond James dropped their price target on Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Apple has a consensus rating of "Moderate Buy" and a consensus target price of $233.25.

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.