Apple Inc. (NASDAQ:AAPL) Shares Sold by Investors Asset Management of Georgia Inc. GA ADV

Investors Asset Management of Georgia Inc. GA ADV lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,815 shares of the iPhone maker’s stock after selling 357 shares during the quarter. Apple makes up approximately 1.4% of Investors Asset Management of Georgia Inc. GA ADV’s holdings, making the stock its 16th biggest holding. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Apple were worth $2,883,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Vanguard Group Inc. raised its stake in Apple by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock worth $253,766,929,000 after purchasing an additional 18,067,216 shares during the period. Morgan Stanley raised its position in shares of Apple by 1.0% in the 3rd quarter. Morgan Stanley now owns 206,732,960 shares of the iPhone maker’s stock worth $35,394,751,000 after buying an additional 2,018,010 shares during the period. Norges Bank acquired a new position in Apple in the fourth quarter valued at $33,912,466,000. International Assets Investment Management LLC grew its position in Apple by 14,395.4% during the fourth quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock valued at $136,119,470,000 after acquiring an additional 70,212,651 shares during the period. Finally, Wellington Management Group LLP increased its stake in Apple by 3.6% during the fourth quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock worth $11,677,190,000 after acquiring an additional 2,096,360 shares during the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of research reports. Citigroup reiterated a “buy” rating and set a $225.00 target price on shares of Apple in a report on Friday, February 16th. Monness Crespi & Hardt increased their price objective on shares of Apple from $189.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. DA Davidson initiated coverage on shares of Apple in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $166.00 target price on the stock. Morgan Stanley decreased their price target on shares of Apple from $220.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Finally, Bank of America raised Apple from a “neutral” rating to a “buy” rating and raised their price objective for the company from $208.00 to $225.00 in a research report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $203.05.

Apple Stock Performance

Shares of NASDAQ AAPL traded down $0.59 during midday trading on Friday, hitting $169.30. The company’s stock had a trading volume of 44,717,137 shares, compared to its average volume of 53,363,952. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $199.62. The firm’s fifty day moving average price is $173.04 and its 200-day moving average price is $181.79. The firm has a market cap of $2.61 trillion, a P/E ratio of 26.37, a P/E/G ratio of 2.05 and a beta of 1.27.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.09. The company had revenue of $119.60 billion during the quarter, compared to the consensus estimate of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. Apple’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.88 earnings per share. On average, sell-side analysts forecast that Apple Inc. will post 6.54 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s dividend payout ratio is presently 14.95%.

Insider Buying and Selling at Apple

In other news, CFO Luca Maestri sold 53,194 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the transaction, the chief financial officer now owns 107,788 shares in the company, valued at $18,768,046.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Apple news, CFO Luca Maestri sold 53,194 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total value of $9,262,139.28. Following the sale, the chief financial officer now owns 107,788 shares in the company, valued at $18,768,046.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 59,162 shares of the business’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $172.22, for a total value of $10,188,879.64. Following the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at approximately $84,378,155.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 366,271 shares of company stock worth $63,653,887. 0.06% of the stock is 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.