Davis Rea LTD. Sells 1,075 Shares of Apple Inc. (NASDAQ:AAPL)

Davis Rea LTD. trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,671 shares of the iPhone maker’s stock after selling 1,075 shares during the period. Apple accounts for about 2.0% of Davis Rea LTD.’s portfolio, making the stock its 19th biggest holding. Davis Rea LTD.’s holdings in Apple were worth $3,980,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Wyrmwood Management LLC raised its holdings in Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after acquiring an additional 69 shares during the period. Gilfoyle & Co LLC increased its stake in shares of Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares during the period. PayPay Securities Corp lifted its holdings in Apple by 70.2% during the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after purchasing an additional 210 shares during the last quarter. Cordant Inc. boosted its stake in Apple by 27.7% in the 3rd quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock valued at $110,000 after purchasing an additional 140 shares during the period. Finally, Life Planning Partners Inc acquired a new position in Apple in the 4th quarter valued at $132,000. 60.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Apple news, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction that occurred on 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 completion of the sale, the senior vice president now owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Deirdre O’brien sold 54,732 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the sale, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Luca Maestri sold 53,194 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $18,768,046.56. The disclosure for this sale can be found here. Insiders have sold a total of 366,271 shares of company stock valued at $63,653,887 over the last ninety days. 0.06% of the stock is owned by company insiders.

Apple Trading Up 2.5 %

AAPL opened at $173.50 on Tuesday. The company’s 50 day moving average price is $172.86 and its two-hundred day moving average price is $181.77. The firm has a market capitalization of $2.68 trillion, a price-to-earnings ratio of 27.02, a PEG ratio of 2.04 and a beta of 1.27. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $199.62. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data 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 company had revenue of $119.60 billion for the quarter, compared to analysts’ expectations of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. Apple’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.88 earnings per share. As a group, research analysts predict that Apple Inc. will post 6.54 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were given a dividend of $0.24 per share. The ex-dividend date was Friday, February 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.55%. Apple’s dividend payout ratio (DPR) is 14.95%.

Analyst Ratings Changes

A number of research firms have recently weighed in on AAPL. Wedbush reissued an “outperform” rating and set a $250.00 target price on shares of Apple in a report on Tuesday, April 9th. 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. Morgan Stanley decreased their target price on shares of Apple from $220.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. JPMorgan Chase & Co. dropped their price target on shares of Apple from $215.00 to $210.00 and set an “overweight” rating for the company in a research report on Thursday, April 11th. Finally, Piper Sandler reduced their price target on Apple from $205.00 to $190.00 and set a “neutral” rating on the stock in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $202.62.

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.