Mid American Wealth Advisory Group Inc. Has $2.98 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Mid American Wealth Advisory Group Inc. decreased its stake in Apple Inc. (NASDAQ:AAPL) by 8.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,799 shares of the iPhone maker’s stock after selling 1,206 shares during the period. Apple comprises about 1.9% of Mid American Wealth Advisory Group Inc.’s holdings, making the stock its 18th largest holding. Mid American Wealth Advisory Group Inc.’s holdings in Apple were worth $2,982,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Swedbank AB acquired a new stake in shares of Apple during the first quarter valued at about $3,026,492,000. Strategic Financial Concepts LLC raised its holdings in Apple by 14,145.8% in the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after buying an additional 7,558,826 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Apple by 158.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock worth $1,977,582,000 after buying an additional 7,067,379 shares during the period. Lazard Asset Management LLC grew its holdings in Apple by 161.2% during the 1st quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock worth $1,502,068,000 after acquiring an additional 5,405,542 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new position in Apple in the 2nd quarter valued at approximately $834,368,000. Institutional investors own 60.41% of the company’s stock.

Insider Transactions at Apple

In other Apple news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. The trade was a 35.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the 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 transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 404,040 shares of company stock worth $91,062,512 in the last ninety days. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on AAPL shares. Barclays decreased their price objective on Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, November 1st. New Street Research restated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, September 25th. Loop Capital decreased their target price on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, November 4th. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Robert W. Baird boosted their target price on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $235.51.

Apple Stock Up 1.3 %

Apple stock opened at $228.02 on Tuesday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. 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 50-day simple moving average is $227.18 and its 200 day simple moving average is $217.00. The stock has a market cap of $3.45 trillion, a PE ratio of 37.50, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24.

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

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is presently 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.