Heritage Wealth Management Inc. Buys New Shares in Apple Inc. (NASDAQ:AAPL)

Heritage Wealth Management Inc. purchased a new position in shares of Apple Inc. (NASDAQ:AAPL) in the second quarter, according to its most recent filing with the SEC. The firm purchased 82,651 shares of the iPhone maker’s stock, valued at approximately $18,707,000. Apple accounts for 6.3% of Heritage Wealth Management Inc.’s portfolio, making the stock its 3rd largest holding.

Other hedge funds have also recently made changes to their positions in the company. Hershey Financial Advisers LLC bought a new stake in Apple in the second quarter worth approximately $42,000. Access Investment Management LLC bought a new stake in shares of Apple in the 1st quarter valued at $140,000. Hoese & Co LLP increased its stake in shares of Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares in the last quarter. Sage Financial Group Inc. acquired a new position in shares of Apple during the 2nd quarter valued at $206,000. Finally, Benchmark Wealth Management LLC bought a new position in Apple during the second quarter worth $208,000. 60.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Timothy D. Cook sold 223,986 shares of the company’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 transaction of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the transaction, the senior vice president now owns 187,043 shares of the company’s stock, valued at $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 404,040 shares of company stock worth $91,062,512 over the last quarter. 0.06% of the stock is currently owned by company insiders.

Apple Trading Down 1.4 %

Shares of AAPL stock opened at $225.00 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The firm has a market cap of $3.40 trillion, a P/E ratio of 37.01, a PEG ratio of 2.20 and a beta of 1.24. The company has a 50 day moving average of $227.04 and a 200-day moving average of $216.61. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping 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 business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same period last year, the business posted $1.46 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. Sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current 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. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AAPL shares. KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a research note on Friday, October 25th. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $265.00 price target on shares of Apple in a report on Tuesday, September 10th. TD Cowen upped their target price on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Wedbush reiterated an “outperform” rating and issued a $285.00 target price on shares of Apple in a report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $235.51.

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.