Mid American Wealth Advisory Group Inc. Cuts Holdings in Apple Inc. (NASDAQ:AAPL)

Mid American Wealth Advisory Group Inc. lowered its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 9.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,543 shares of the iPhone maker's stock after selling 1,256 shares during the period. Apple comprises about 1.7% of Mid American Wealth Advisory Group Inc.'s investment portfolio, making the stock its 19th biggest holding. Mid American Wealth Advisory Group Inc.'s holdings in Apple were worth $2,891,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. State Street Corp lifted its position in Apple by 10.6% during the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock valued at $136,074,372,000 after purchasing an additional 55,935,105 shares in the last quarter. FMR LLC lifted its position in Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock valued at $84,779,231,000 after purchasing an additional 18,224,005 shares in the last quarter. Geode Capital Management LLC lifted its position in 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 purchasing an additional 20,483,787 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Apple by 6.6% during the 3rd 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 acquiring an additional 5,893,741 shares during the period. Finally, International Assets Investment Management LLC grew its stake in shares of Apple by 20,372.7% during the 3rd 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. Institutional investors own 67.73% of the company's stock.

Insider Transactions at Apple

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares of the company's stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.06% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Morgan Stanley boosted their price objective on Apple from $273.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Needham & Company LLC reissued a "buy" rating and issued a $260.00 price objective on shares of Apple in a research note on Friday, January 31st. Argus raised Apple to a "strong-buy" rating in a report on Friday, January 31st. KeyCorp reissued an "underweight" rating and set a $200.00 price target on shares of Apple in a report on Friday, January 31st. Finally, Sanford C. Bernstein raised their price target on Apple from $240.00 to $260.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $242.52.

Apple Trading Down 0.1 %

Shares of AAPL stock traded down $0.28 on Friday, reaching $245.55. 53,102,300 shares of the company's stock were exchanged, compared to its average volume of 49,742,392. The company's fifty day simple moving average is $240.47 and its 200 day simple moving average is $232.55. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $3.69 trillion, a PE ratio of 38.98, a P/E/G ratio of 2.44 and a beta of 1.20. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results 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 net margin of 24.30% and a return on equity of 160.83%. As a group, analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, February 10th. Apple's dividend payout ratio (DPR) is presently 15.87%.

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.