Beacon Harbor Wealth Advisors Inc. Has $1.60 Million Position in Apple Inc. (NASDAQ:AAPL)

Beacon Harbor Wealth Advisors Inc. trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 80.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,407 shares of the iPhone maker's stock after selling 25,857 shares during the period. Beacon Harbor Wealth Advisors Inc.'s holdings in Apple were worth $1,604,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Drystone LLC acquired a new stake in shares of Apple in the fourth quarter valued at approximately $25,000. Bull Oak Capital LLC grew its position in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock valued at $36,000 after purchasing an additional 111 shares in the last quarter. SPX Gestao de Recursos Ltda acquired a new stake in Apple in the 3rd quarter valued at $71,000. Teachers Insurance & Annuity Association of America bought a new stake in Apple during the 3rd quarter worth about $77,000. Finally, Compass Planning Associates Inc acquired a new position in shares of Apple during the 4th quarter worth about $96,000. 67.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AAPL. Bank of America dropped their target price on Apple from $265.00 to $250.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. KeyCorp cut their price objective on Apple from $200.00 to $170.00 and set an "underweight" rating for the company in a report on Tuesday. Argus upgraded shares of Apple to a "strong-buy" rating in a report on Friday, January 31st. Evercore ISI lifted their price objective on shares of Apple from $260.00 to $275.00 and gave the company an "outperform" rating in a research report on Tuesday, March 18th. Finally, UBS Group boosted their price objective on shares of Apple to $236.00 and gave the stock a "hold" rating in a research note on Tuesday, February 25th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $240.26.

Insider Activity

In other news, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction dated 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 owns 390,059 shares of the company's stock, valued at approximately $87,377,116.59. This represents a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 3,280,295 shares in the company, valued at $733,637,976.75. This trade represents a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 182,451 shares of company stock worth $40,818,720. Insiders own 0.06% of the company's stock.

Apple Price Performance

Shares of NASDAQ AAPL traded up $7.73 during mid-day trading on Friday, reaching $198.15. The company had a trading volume of 87,256,357 shares, compared to its average volume of 56,952,380. The firm has a market cap of $2.98 trillion, a price-to-earnings ratio of 31.45, a PEG ratio of 2.44 and a beta of 1.26. The business's 50-day simple moving average is $222.87 and its 200 day simple moving average is $231.14. Apple Inc. has a one year low of $164.08 and a one year 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.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, February 10th. Apple's dividend payout ratio is presently 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.