IVC Wealth Advisors LLC Sells 1,614 Shares of Apple Inc. (NASDAQ:AAPL)

IVC Wealth Advisors LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,658 shares of the iPhone maker’s stock after selling 1,614 shares during the period. Apple comprises 8.5% of IVC Wealth Advisors LLC’s investment portfolio, making the stock its 2nd largest position. IVC Wealth Advisors LLC’s holdings in Apple were worth $13,604,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Falcon Wealth Planning raised its stake in shares of Apple by 1.9% during the fourth quarter. Falcon Wealth Planning now owns 263,687 shares of the iPhone maker’s stock valued at $50,768,000 after purchasing an additional 4,998 shares during the period. Whitener Capital Management Inc. increased its stake in shares of Apple by 3.7% in the fourth quarter. Whitener Capital Management Inc. now owns 116,804 shares of the iPhone maker’s stock worth $22,488,000 after buying an additional 4,199 shares during the last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of Apple in the fourth quarter worth $1,819,000. Wealth Alliance Advisory Group LLC increased its stake in shares of Apple by 1.6% in the fourth quarter. Wealth Alliance Advisory Group LLC now owns 47,151 shares of the iPhone maker’s stock worth $9,078,000 after buying an additional 757 shares during the last quarter. Finally, TruWealth Advisors LLC increased its stake in shares of Apple by 1.0% in the fourth quarter. TruWealth Advisors LLC now owns 172,738 shares of the iPhone maker’s stock worth $33,257,000 after buying an additional 1,789 shares during the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Stock Down 0.8 %

Shares of Apple stock opened at $170.85 on Tuesday. The stock has a market capitalization of $2.64 trillion, a P/E ratio of 26.61, a PEG ratio of 2.08 and a beta of 1.29. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. The stock has a 50 day moving average price of $182.26 and a two-hundred day moving average price of $182.83. Apple Inc. has a 12-month low of $155.98 and a 12-month high of $199.62.

Apple (NASDAQ:AAPLGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.09. Apple had a return on equity of 156.04% and a net margin of 26.16%. The company had revenue of $119.60 billion during the quarter, compared to analysts’ expectations of $117.99 billion. During the same period in the prior year, the business earned $1.88 earnings per share. Apple’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts expect that Apple Inc. will post 6.55 earnings per share 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 given a $0.24 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.96 annualized dividend and a dividend yield of 0.56%. Apple’s dividend payout ratio is 14.95%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AAPL. Citigroup restated a “buy” rating and issued a $225.00 price target on shares of Apple in a research note on Friday, February 16th. Morgan Stanley restated an “overweight” rating and issued a $220.00 price target on shares of Apple in a research note on Friday. The Goldman Sachs Group lifted their price target on shares of Apple from $223.00 to $232.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Robert W. Baird lifted their price target on shares of Apple from $186.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Finally, DA Davidson initiated coverage on shares of Apple in a research note on Wednesday, January 3rd. They set a “neutral” rating and a $166.00 target price for the company. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $205.27.

View Our Latest Analysis on Apple

Insider Activity

In other news, Director Arthur D. Levinson sold 100,000 shares of the 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 of the company’s stock, valued at $802,392,181.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is owned by company insiders.

About Apple

(Free Report)

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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