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

Mid American Wealth Advisory Group Inc. lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 8.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,799 shares of the iPhone maker’s stock after selling 1,206 shares during the period. Apple makes up about 1.9% of Mid American Wealth Advisory Group Inc.’s holdings, making the stock its 18th biggest position. Mid American Wealth Advisory Group Inc.’s holdings in Apple were worth $2,982,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Fidelis Capital Partners LLC boosted its holdings in shares of Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after acquiring an additional 31,278 shares during the period. Hershey Financial Advisers LLC bought a new stake in shares of Apple during the 2nd quarter valued at $42,000. Access Investment Management LLC purchased a new stake in Apple during the 1st quarter worth about $140,000. Hoese & Co LLP lifted its holdings in Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares in the last quarter. Finally, Sage Financial Group Inc. bought a new position in Apple in the 2nd quarter worth about $206,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Loop Capital decreased their price target on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $265.00 target price on shares of Apple in a report on Tuesday, September 10th. Rosenblatt Securities increased their target price on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Melius Research restated a “buy” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, August 27th. Finally, Barclays decreased their price target on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $235.51.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the sale, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at $42,309,126.60. This trade represents a 24.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 404,040 shares of company stock valued at $91,062,512. Company insiders own 0.06% of the company’s stock.

Apple Trading Up 1.3 %

Apple stock opened at $228.02 on Tuesday. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The business’s fifty day moving average is $227.18 and its 200 day moving average is $217.00. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market capitalization of $3.45 trillion, a PE ratio of 37.50, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.46 EPS. On average, sell-side analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

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.