Apple Inc. (NASDAQ:AAPL) is Westbourne Investment Advisors Inc.’s 2nd Largest Position

Westbourne Investment Advisors Inc. increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,651 shares of the iPhone maker’s stock after buying an additional 737 shares during the period. Apple comprises approximately 5.9% of Westbourne Investment Advisors Inc.’s investment portfolio, making the stock its 2nd largest holding. Westbourne Investment Advisors Inc.’s holdings in Apple were worth $16,059,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Conservest Capital Advisors Inc. grew its position in Apple by 0.3% during the third quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock worth $2,877,000 after buying an additional 55 shares in the last quarter. Flagstone Financial Management grew its holdings in shares of Apple by 0.9% during the 4th quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock worth $1,173,000 after purchasing an additional 56 shares in the last quarter. High Pines Wealth Management LLC increased its position in shares of Apple by 0.7% during the fourth quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock valued at $1,638,000 after purchasing an additional 58 shares during the period. Kraft Davis & Associates LLC raised its stake in shares of Apple by 0.9% in the third quarter. Kraft Davis & Associates LLC now owns 6,716 shares of the iPhone maker’s stock valued at $1,155,000 after purchasing an additional 59 shares in the last quarter. Finally, Asset Planning Corporation lifted its position in Apple by 1.0% in the fourth quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock worth $1,181,000 after purchasing an additional 59 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Activity at Apple

In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction that occurred 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 owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arthur D. Levinson sold 100,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 366,271 shares of company stock worth $63,653,887 in the last ninety days. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Piper Sandler Companies cut shares of Apple to a “neutral” rating and dropped their price objective for the company from $220.00 to $205.00 in a research note on Thursday, January 4th. Morgan Stanley dropped their price target on shares of Apple from $220.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. DZ Bank reaffirmed a “hold” rating and set a $180.00 price objective on shares of Apple in a report on Thursday, March 28th. Piper Sandler lowered their price objective on Apple from $205.00 to $190.00 and set a “neutral” rating on the stock in a research note on Friday, February 2nd. Finally, Oppenheimer restated an “outperform” rating and set a $200.00 target price on shares of Apple in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $203.05.

Apple Trading Down 0.3 %

Shares of AAPL traded down $0.59 on Friday, reaching $169.30. 44,717,137 shares of the company’s stock were exchanged, compared to its average volume of 53,363,952. The business has a 50 day moving average price of $173.04 and a two-hundred day moving average price of $181.79. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $199.62. The stock has a market capitalization of $2.61 trillion, a P/E ratio of 26.37, a price-to-earnings-growth ratio of 2.05 and a beta of 1.27. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28.

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

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were paid a $0.24 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.57%. Apple’s dividend payout ratio (DPR) is presently 14.95%.

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.