Investment Advisory Group LLC Has $8.09 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Investment Advisory Group LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 32,301 shares of the iPhone maker’s stock after selling 708 shares during the period. Apple accounts for 2.7% of Investment Advisory Group LLC’s portfolio, making the stock its 7th biggest holding. Investment Advisory Group LLC’s holdings in Apple were worth $8,089,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. High Net Worth Advisory Group LLC boosted its position 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 valued at $14,916,000 after purchasing an additional 1,066 shares in the last quarter. Amara Financial LLC. acquired a new stake in shares of Apple during the third quarter worth approximately $288,000. Truist Financial Corp boosted its holdings in shares of 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 purchasing an additional 126,210 shares during the period. Sterling Investment Counsel LLC boosted its holdings in shares of Apple by 3.8% during the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after purchasing an additional 2,565 shares during the period. Finally, Silicon Valley Capital Partners raised its position in Apple by 12.8% during the third quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock valued at $59,122,000 after acquiring an additional 28,799 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AAPL. Rosenblatt Securities reissued a “buy” rating and issued a $262.00 price target on shares of Apple in a research report on Monday, January 27th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price target on shares of Apple in a research note on Friday, January 31st. Bank of America boosted their target price on shares of Apple from $253.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, January 31st. UBS Group boosted their price objective on Apple to $236.00 and gave the stock a “hold” rating in a report on Tuesday, February 25th. Finally, Evercore ISI upped their price target on Apple to $260.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $243.22.

Apple Trading Down 1.7 %

Shares of Apple stock opened at $216.98 on Thursday. Apple Inc. has a 12-month low of $164.08 and a 12-month high of $260.10. The stock has a market cap of $3.26 trillion, a P/E ratio of 34.44, a P/E/G ratio of 2.44 and a beta of 1.18. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The business’s 50 day moving average is $235.80 and its 200-day moving average is $234.00.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.46%. The ex-dividend date was Monday, February 10th. Apple’s payout ratio is 15.87%.

Insider Transactions at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.06% of the stock is currently owned by insiders.

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.