Nova R Wealth Inc. Sells 317 Shares of Apple Inc. (NASDAQ:AAPL)

Nova R Wealth Inc. trimmed its position in Apple Inc. (NASDAQ:AAPL) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,787 shares of the iPhone maker’s stock after selling 317 shares during the quarter. Apple comprises approximately 4.3% of Nova R Wealth Inc.’s holdings, making the stock its 7th largest position. Nova R Wealth Inc.’s holdings in Apple were worth $8,461,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AAPL. State Street Corp grew its stake in shares of Apple by 10.6% in the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after acquiring an additional 55,935,105 shares during the last quarter. FMR LLC grew its position in Apple by 5.3% in the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after purchasing an additional 18,224,005 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Apple by 6.5% during the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock valued at $77,542,863,000 after buying an additional 20,483,787 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Apple by 6.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock valued at $22,121,656,000 after buying an additional 5,893,741 shares during the period. Finally, International Assets Investment Management LLC increased its stake in Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after acquiring an additional 93,886,664 shares during the period. 67.73% of the stock is owned by institutional investors.

Apple Stock Up 1.3 %

Shares of AAPL opened at $196.79 on Friday. The firm has a market capitalization of $2.96 trillion, a price-to-earnings ratio of 31.24, a PEG ratio of 2.44 and a beta of 1.26. Apple Inc. has a 52 week low of $164.08 and a 52 week high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The business’s fifty day moving average price is $219.65 and its two-hundred day moving average price is $230.08.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping 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, analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio (DPR) is 15.87%.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their price objective on Apple from $270.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 target price on shares of Apple in a research report on Monday, April 14th. Evercore ISI boosted their price target on shares of Apple from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday, March 18th. Citigroup reduced their price objective on shares of Apple from $275.00 to $245.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, Jefferies Financial Group upgraded shares of Apple from an “underperform” rating to a “hold” rating and decreased their target price for the company from $202.33 to $167.88 in a research report on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $235.85.

Insider Activity at Apple

In other Apple news, CEO Timothy D. Cook sold 108,136 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the sale, the chief executive officer now owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. The trade was a 3.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the transaction, the chief operating officer now directly owns 390,059 shares in the company, valued at approximately $87,377,116.59. This trade represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 182,451 shares of company stock worth $40,818,720 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Apple 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.