Heritage Wealth Management Inc. Texas Sells 1,530 Shares of Apple Inc. (NASDAQ:AAPL)

Heritage Wealth Management Inc. Texas lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 19.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,219 shares of the iPhone maker’s stock after selling 1,530 shares during the quarter. Apple accounts for approximately 0.8% of Heritage Wealth Management Inc. Texas’ investment portfolio, making the stock its 14th biggest holding. Heritage Wealth Management Inc. Texas’ holdings in Apple were worth $1,197,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. SeaBridge Investment Advisors LLC raised its holdings in shares of Apple by 15.9% in the 4th quarter. SeaBridge Investment Advisors LLC now owns 83,226 shares of the iPhone maker’s stock worth $16,024,000 after purchasing an additional 11,415 shares during the period. Massachusetts Wealth Management raised its holdings in shares of Apple by 1.2% in the 4th quarter. Massachusetts Wealth Management now owns 21,838 shares of the iPhone maker’s stock worth $4,204,000 after purchasing an additional 267 shares during the period. Sabal Trust CO raised its holdings in shares of Apple by 18.4% in the 4th quarter. Sabal Trust CO now owns 90,772 shares of the iPhone maker’s stock worth $17,476,000 after purchasing an additional 14,109 shares during the period. Triton Wealth Management PLLC raised its holdings in shares of Apple by 1.6% in the 4th quarter. Triton Wealth Management PLLC now owns 26,244 shares of the iPhone maker’s stock worth $4,787,000 after purchasing an additional 424 shares during the period. Finally, Financial Insights Inc. raised its holdings in shares of Apple by 0.7% in the 4th quarter. Financial Insights Inc. now owns 108,099 shares of the iPhone maker’s stock worth $20,812,000 after purchasing an additional 749 shares during the period. Institutional investors own 60.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AAPL. DZ Bank reaffirmed a “hold” rating and issued a $180.00 price target on shares of Apple in a report on Thursday, March 28th. Bank of America raised shares of Apple from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $208.00 to $225.00 in a report on Thursday, January 18th. Barclays reiterated an “underweight” rating and issued a $158.00 price objective on shares of Apple in a research note on Tuesday, April 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 price objective on shares of Apple in a research note on Tuesday, April 16th. Finally, DA Davidson assumed coverage on shares of Apple in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $166.00 price objective for the company. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $202.62.

Apple Stock Down 1.8 %

Shares of NASDAQ:AAPL opened at $170.33 on Wednesday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $199.62. The firm has a fifty day moving average of $172.64 and a 200 day moving average of $181.71. The firm has a market capitalization of $2.63 trillion, a PE ratio of 26.53, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27. 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 (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, topping the consensus estimate 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%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.88 earnings per share. As a group, research analysts anticipate that Apple Inc. will post 6.54 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.56%. The ex-dividend date was Friday, February 9th. Apple’s dividend payout ratio is presently 14.95%.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the sale, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Luca Maestri sold 53,194 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $18,768,046.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the transaction, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The disclosure for this sale can be found here. Insiders sold 366,271 shares of company stock valued at $63,653,887 over the last three months. Insiders own 0.06% of the company’s stock.

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.