Mill Creek Capital Advisors LLC Reduces Stock Position in Apple Inc. (NASDAQ:AAPL)

Mill Creek Capital Advisors LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 158,011 shares of the iPhone maker's stock after selling 2,953 shares during the quarter. Apple makes up approximately 1.0% of Mill Creek Capital Advisors LLC's holdings, making the stock its 16th biggest holding. Mill Creek Capital Advisors LLC's holdings in Apple were worth $39,569,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Fiduciary Investment Counsel Inc. grew its holdings in Apple by 2.8% during the 4th quarter. First Fiduciary Investment Counsel Inc. now owns 5,715 shares of the iPhone maker's stock worth $1,431,000 after acquiring an additional 154 shares in the last quarter. Pineridge Advisors LLC lifted its position in shares of Apple by 27.5% in the 4th quarter. Pineridge Advisors LLC now owns 7,432 shares of the iPhone maker's stock worth $1,861,000 after purchasing an additional 1,604 shares during the period. Panoramic Capital Partners LLC bought a new position in shares of Apple during the fourth quarter valued at approximately $4,666,000. International Private Wealth Advisors LLC increased its holdings in Apple by 45.0% during the fourth quarter. International Private Wealth Advisors LLC now owns 19,475 shares of the iPhone maker's stock valued at $4,877,000 after buying an additional 6,046 shares during the period. Finally, Arlington Trust Co LLC raised its stake in Apple by 3.2% in the fourth quarter. Arlington Trust Co LLC now owns 66,044 shares of the iPhone maker's stock worth $16,539,000 after buying an additional 2,023 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Insider Activity

In related news, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the sale, the chief operating officer now directly owns 390,059 shares in the company, valued at approximately $87,377,116.59. The trade was a 8.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the sale, the senior vice president now owns 179,158 shares of the company's stock, valued at approximately $40,072,269.86. This trade represents a 17.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 182,451 shares of company stock worth $40,818,720 over the last 90 days. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AAPL. Needham & Company LLC reaffirmed a "buy" rating and set a $225.00 target price on shares of Apple in a research report on Monday. Maxim Group raised their price objective on Apple to $215.00 and gave the company a "hold" rating in a research report on Friday, February 21st. Morgan Stanley cut their target price on Apple from $252.00 to $220.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Jefferies Financial Group upgraded shares of Apple from an "underperform" rating to a "hold" rating and lowered their price target for the company from $202.33 to $167.88 in a report on Wednesday, April 9th. Finally, UBS Group boosted their price objective on shares of Apple to $236.00 and gave the stock a "buy" rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Apple currently has an average rating of "Moderate Buy" and an average price target of $235.85.

Apple Price Performance

Shares of AAPL stock traded up $1.95 during mid-day trading on Thursday, hitting $196.22. 10,618,518 shares of the stock were exchanged, compared to its average volume of 56,637,330. Apple Inc. has a 52-week low of $164.08 and a 52-week high of $260.10. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The company has a market cap of $2.95 trillion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. The firm has a fifty day moving average of $220.98 and a 200 day moving average of $230.53.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (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%. Research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Monday, February 10th. Apple's payout ratio is 15.87%.

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.