Physician Wealth Advisors Inc. Reduces Holdings in Apple Inc. (NASDAQ:AAPL)

Physician Wealth Advisors Inc. lessened its position in Apple Inc. (NASDAQ:AAPL) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,241 shares of the iPhone maker’s stock after selling 1,686 shares during the period. Apple comprises about 3.3% of Physician Wealth Advisors Inc.’s portfolio, making the stock its 6th largest holding. Physician Wealth Advisors Inc.’s holdings in Apple were worth $14,589,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. RPg Family Wealth Advisory LLC raised its holdings in Apple by 5.8% in the 4th quarter. RPg Family Wealth Advisory LLC now owns 46,808 shares of the iPhone maker’s stock valued at $9,012,000 after acquiring an additional 2,552 shares during the period. Coastline Trust Co increased its stake in shares of Apple by 1.9% during the fourth quarter. Coastline Trust Co now owns 182,551 shares of the iPhone maker’s stock worth $35,147,000 after purchasing an additional 3,361 shares during the period. Cahaba Wealth Management Inc. grew its holdings in Apple by 2.0% in the 4th quarter. Cahaba Wealth Management Inc. now owns 28,011 shares of the iPhone maker’s stock valued at $5,393,000 after buying an additional 560 shares in the last quarter. FAS Wealth Partners Inc. increased its position in Apple by 1.6% during the 4th quarter. FAS Wealth Partners Inc. now owns 142,540 shares of the iPhone maker’s stock worth $27,443,000 after buying an additional 2,177 shares during the period. Finally, Capital Advantage Inc. boosted its position in shares of Apple by 0.6% in the fourth quarter. Capital Advantage Inc. now owns 58,262 shares of the iPhone maker’s stock valued at $11,217,000 after acquiring an additional 334 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Up 0.6 %

Apple stock opened at $166.90 on Wednesday. The firm has a 50 day moving average price of $173.88 and a two-hundred day moving average price of $182.03. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07. Apple Inc. has a 52-week low of $162.80 and a 52-week high of $199.62. The firm has a market cap of $2.58 trillion, a price-to-earnings ratio of 26.00, a PEG ratio of 1.99 and a beta of 1.27.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. The business had revenue of $119.60 billion during the quarter, compared to the consensus estimate of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. Apple’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.88 earnings per share. Equities analysts predict that Apple Inc. will post 6.54 EPS for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s dividend payout ratio is 14.95%.

Insider Activity at Apple

In other Apple news, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the sale, the director now directly owns 4,434,576 shares in the company, valued at $802,392,181.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the sale, the director now directly owns 4,434,576 shares in the company, valued at $802,392,181.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Deirdre O’brien sold 54,732 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the transaction, the senior vice president now owns 136,572 shares in the company, valued at approximately $23,068,376.52. The disclosure for this sale can be found here. Insiders have sold a total of 366,271 shares of company stock worth $63,653,887 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AAPL shares. Citigroup reissued a “buy” rating and issued a $225.00 price objective on shares of Apple in a report on Friday, February 16th. JPMorgan Chase & Co. reduced their target price on Apple from $215.00 to $210.00 and set an “overweight” rating on the stock in a report on Thursday, April 11th. Maxim Group started coverage on Apple in a research note on Wednesday, April 17th. They issued a “hold” rating and a $178.00 price target for the company. DZ Bank reaffirmed a “hold” rating and set a $180.00 price objective on shares of Apple in a research report on Thursday, March 28th. Finally, Robert W. Baird raised their target price on shares of Apple from $186.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have issued a buy rating and one has given 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 $203.05.

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.