Heritage Oak Wealth Advisors LLC Raises Stock Position in Apple Inc. (NASDAQ:AAPL)

Heritage Oak Wealth Advisors LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 9.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,156 shares of the iPhone maker’s stock after buying an additional 2,065 shares during the quarter. Apple accounts for 2.5% of Heritage Oak Wealth Advisors LLC’s investment portfolio, making the stock its 8th biggest position. Heritage Oak Wealth Advisors LLC’s holdings in Apple were worth $5,395,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Bull Oak Capital LLC grew its position in Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares during the last quarter. Hershey Financial Advisers LLC purchased a new stake in shares of Apple in the 2nd quarter valued at $42,000. Christopher J. Hasenberg Inc grew its holdings in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the last quarter. Cordant Inc. raised its position in Apple by 34.3% in the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after purchasing an additional 173 shares during the period. Finally, Sage Financial Group Inc. bought a new stake in Apple in the second quarter worth $206,000. 67.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on AAPL. New Street Research reiterated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. Barclays decreased their price target on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, November 1st. Wedbush reiterated an “outperform” rating and issued a $300.00 price objective on shares of Apple in a research report on Friday, November 29th. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, UBS Group reiterated a “neutral” rating and set a $236.00 price target on shares of Apple in a report on Monday, December 2nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $236.78.

Insider Activity

In related news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the transaction, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 508,170 shares of company stock worth $117,004,745 over the last 90 days. 0.06% of the stock is currently owned by insiders.

Apple Stock Up 1.1 %

Shares of NASDAQ:AAPL opened at $258.20 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The stock has a fifty day simple moving average of $235.45 and a two-hundred day simple moving average of $226.34. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $258.21. The stock has a market capitalization of $3.90 trillion, a price-to-earnings ratio of 42.47, a PEG ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. During the same quarter in the previous year, the firm earned $1.46 EPS. Apple’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, research analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. Apple’s dividend payout ratio is presently 16.45%.

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.