Net Worth Advisory Group Acquires New Holdings in Apple Inc. (NASDAQ:AAPL)

Net Worth Advisory Group purchased a new stake in Apple Inc. (NASDAQ:AAPL) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 12,613 shares of the iPhone maker’s stock, valued at approximately $2,939,000. Apple accounts for 0.9% of Net Worth Advisory Group’s investment portfolio, making the stock its 16th biggest position.

Other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in Apple by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock worth $11,160,183,000 after acquiring an additional 2,785,807 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Apple by 6.7% in the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock valued at $10,909,457,000 after buying an additional 3,245,281 shares in the last quarter. Capital International Investors lifted its stake in Apple by 7.1% in the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after purchasing an additional 2,474,887 shares during the last quarter. American Century Companies Inc. raised its position in Apple by 3.2% in the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after purchasing an additional 1,065,759 shares during the last quarter. Finally, Swedbank AB grew its holdings in Apple by 13.4% during the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after acquiring an additional 2,359,409 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on AAPL shares. New Street Research reissued a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, September 25th. Melius Research reiterated a “buy” rating and issued a $265.00 target price on shares of Apple in a report on Tuesday, August 27th. JPMorgan Chase & Co. restated an “overweight” rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, September 10th. Moffett Nathanson lowered their target price on shares of Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a report on Tuesday, November 19th. Finally, Wedbush reiterated an “outperform” rating and set a $300.00 price target on shares of Apple in a research note on Friday, November 29th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $236.78.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the sale, the chief operating officer now owns 489,944 shares in the company, valued at approximately $111,148,695.84. This trade represents a 10.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is currently owned by corporate insiders.

Apple Trading Down 0.5 %

Apple stock opened at $246.49 on Thursday. The stock has a market cap of $3.73 trillion, a P/E ratio of 40.54, a PEG ratio of 2.42 and a beta of 1.23. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The firm’s fifty day moving average price is $231.24 and its 200-day moving average price is $222.66. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $250.80.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the prior year, the firm earned $1.46 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is currently 16.45%.

Apple Company 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.