IVC Wealth Advisors LLC Has $14.80 Million Position in Apple Inc. (NASDAQ:AAPL)

IVC Wealth Advisors LLC lowered its stake in Apple Inc. (NASDAQ:AAPL) by 6.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 63,520 shares of the iPhone maker’s stock after selling 4,407 shares during the period. Apple makes up 8.1% of IVC Wealth Advisors LLC’s holdings, making the stock its 2nd biggest holding. IVC Wealth Advisors LLC’s holdings in Apple were worth $14,800,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. High Net Worth Advisory Group LLC raised its holdings in shares of Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after buying an additional 1,066 shares in the last quarter. Granite Investment Partners LLC grew its position in Apple by 2.7% in the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after acquiring an additional 7,606 shares during the last quarter. Truist Financial Corp raised its stake in Apple by 1.8% during the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after acquiring an additional 126,210 shares in the last quarter. Sterling Investment Counsel LLC lifted its holdings in shares of Apple by 3.8% in the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after acquiring an additional 2,565 shares during the last quarter. Finally, EP Wealth Advisors LLC boosted its stake in shares of Apple by 5.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock valued at $406,099,000 after purchasing an additional 95,235 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the sale, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. The trade was a 24.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 508,170 shares of company stock valued at $117,004,745. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of AAPL opened at $255.59 on Friday. Apple Inc. has a one year low of $164.07 and a one year high of $260.10. The company has a market cap of $3.86 trillion, a PE ratio of 42.04, a P/E/G ratio of 2.41 and a beta of 1.23. The stock has a 50-day moving average of $237.41 and a 200-day moving average of $227.65. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter last year, the firm posted $1.46 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities research analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.39%. Apple’s payout ratio is 16.45%.

Analyst Ratings Changes

Several brokerages recently commented on AAPL. Citigroup increased their price objective on shares of Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Barclays cut their price objective on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, November 1st. Oppenheimer reaffirmed a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. Needham & Company LLC reissued a “buy” rating and set a $260.00 price target on shares of Apple in a research note on Tuesday, December 10th. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three 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 presently has a consensus rating of “Moderate Buy” and an average target price of $237.47.

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.