Heritage Wealth Management Inc. Texas Sells 377 Shares of Apple Inc. (NASDAQ:AAPL)

Heritage Wealth Management Inc. Texas reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,295 shares of the iPhone maker’s stock after selling 377 shares during the quarter. Apple comprises approximately 0.9% of Heritage Wealth Management Inc. Texas’ holdings, making the stock its 12th largest position. Heritage Wealth Management Inc. Texas’ holdings in Apple were worth $1,576,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of AAPL. O Connor Financial Group LLC raised its holdings in shares of Apple by 1.2% during the fourth quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock valued at $896,000 after buying an additional 41 shares during the last quarter. 1620 Investment Advisors Inc. boosted its position in Apple by 0.5% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock worth $2,249,000 after acquiring an additional 45 shares during the period. Carolina Wealth Advisors LLC grew its stake in shares of Apple by 1.3% in the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock worth $813,000 after purchasing an additional 46 shares in the last quarter. Menard Financial Group LLC increased its holdings in shares of Apple by 0.4% during the third quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker’s stock valued at $2,848,000 after purchasing an additional 48 shares during the period. Finally, Hanseatic Management Services Inc. raised its stake in shares of Apple by 1.3% during the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker’s stock valued at $945,000 after purchasing an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AAPL shares. Wells Fargo & Company increased their target price on shares of Apple to $275.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Evercore ISI raised their price objective on shares of Apple to $260.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Wedbush reaffirmed an “outperform” rating and set a $325.00 price target on shares of Apple in a research note on Friday. Morgan Stanley dropped their price objective on Apple from $275.00 to $252.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, DA Davidson set a $290.00 target price on Apple in a research note on Friday, January 31st. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $243.22.

Insider Transactions at Apple

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Up 1.8 %

Shares of NASDAQ:AAPL opened at $213.49 on Friday. The firm has a fifty day moving average of $234.52 and a two-hundred day moving average of $233.77. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a 12-month low of $164.08 and a 12-month high of $260.10. The firm has a market capitalization of $3.21 trillion, a P/E ratio of 33.89, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS 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%. On average, equities analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%. Apple’s payout ratio is presently 15.87%.

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.