Westbourne Investment Advisors Inc. Has $16.06 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Westbourne Investment Advisors Inc. grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 93,651 shares of the iPhone maker’s stock after purchasing an additional 737 shares during the quarter. Apple accounts for approximately 5.9% of Westbourne Investment Advisors Inc.’s investment portfolio, making the stock its 2nd biggest holding. Westbourne Investment Advisors Inc.’s holdings in Apple were worth $16,059,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Wyrmwood Management LLC grew its holdings in Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 69 shares during the period. Gilfoyle & Co LLC boosted its position in shares of Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares in the last quarter. A.P. Gilfoyle & Co. L.P. acquired a new stake in shares of Apple in the 4th quarter valued at about $39,000. University of Texas Texas AM Investment Managment Co. increased its position in Apple by 657.1% in the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after buying an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. acquired a new position in Apple during the 4th quarter worth approximately $85,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AAPL. Redburn Atlantic cut Apple from a “buy” rating to a “neutral” rating and set a $200.00 price objective for the company. in a research note on Wednesday, January 10th. UBS Group reissued a “hold” rating and issued a $190.00 price target on shares of Apple in a research report on Monday, March 25th. DZ Bank restated a “hold” rating and set a $180.00 price objective on shares of Apple in a report on Thursday, March 28th. Monness Crespi & Hardt upped their target price on shares of Apple from $189.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Maxim Group began coverage on Apple in a research note on Wednesday, April 17th. They set a “hold” rating and a $178.00 price target for the company. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $203.05.

Apple Stock Performance

AAPL traded down $0.59 during trading hours on Friday, hitting $169.30. The stock had a trading volume of 44,717,137 shares, compared to its average volume of 53,363,952. The stock has a market cap of $2.61 trillion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 2.05 and a beta of 1.27. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $199.62. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. The company’s fifty day simple moving average is $173.04 and its 200 day simple moving average is $181.79.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.09. The company had revenue of $119.60 billion for the quarter, compared to analysts’ expectations of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. Apple’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.88 EPS. Equities analysts anticipate that Apple Inc. will post 6.54 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Friday, February 9th. Apple’s payout ratio is currently 14.95%.

Insider Activity

In related news, Director Arthur D. Levinson sold 100,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the sale, the director now owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Luca Maestri sold 53,194 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $18,768,046.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the sale, the director now directly owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 366,271 shares of company stock worth $63,653,887. 0.06% of the stock is owned by corporate insiders.

Apple Company 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.