Apple Inc. (NASDAQ:AAPL) is IVC Wealth Advisors LLC’s 3rd Largest Position

IVC Wealth Advisors LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 76,621 shares of the iPhone maker’s stock after selling 2,486 shares during the quarter. Apple accounts for 8.1% of IVC Wealth Advisors LLC’s investment portfolio, making the stock its 3rd largest holding. IVC Wealth Advisors LLC’s holdings in Apple were worth $10,476,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Cardinal Capital Management Inc. raised its position in Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after buying an additional 221 shares during the last quarter. Shore Point Advisors LLC purchased a new position in Apple during the 4th quarter worth $41,000. CFS Investment Advisory Services LLC increased its holdings in shares of Apple by 18,263.5% in the 1st quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock valued at $47,000 after purchasing an additional 7,416,445 shares in the last quarter. Spence Asset Management purchased a new position in shares of Apple in the 2nd quarter valued at about $49,000. Finally, HBC Financial Services PLLC increased its holdings in shares of Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AAPL. KeyCorp increased their price target on shares of Apple from $177.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, August 19th. Citigroup increased their price target on shares of Apple from $175.00 to $185.00 and gave the company a “buy” rating in a report on Friday, July 29th. Itaú Unibanco began coverage on shares of Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price target for the company. Sanford C. Bernstein set a $170.00 price target on shares of Apple in a report on Monday, September 12th. Finally, Morgan Stanley cut their price target on shares of Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $181.68.

Insider Activity at Apple

In related news, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the transaction, the chief financial officer now owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the transaction, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now owns 110,673 shares in the company, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

AAPL opened at $152.74 on Friday. The company’s 50 day simple moving average is $160.31 and its 200 day simple moving average is $155.83. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The stock has a market capitalization of $2.45 trillion, a PE ratio of 25.20, a P/E/G ratio of 2.03 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last released its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The business had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. During the same period last year, the company earned $1.30 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts expect that Apple Inc. will post 6.11 EPS for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.60%. Apple’s payout ratio is 15.18%.

Apple Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

Recommended Stories

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLGet Rating).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.