BT Wealth Management LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 240.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,703 shares of the iPhone maker’s stock after purchasing an additional 26,627 shares during the period. Apple accounts for 1.9% of BT Wealth Management LLC’s investment portfolio, making the stock its 9th largest holding. BT Wealth Management LLC’s holdings in Apple were worth $4,366,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Lountzis Asset Management LLC acquired a new stake in Apple during the 2nd quarter worth $26,000. GW&K Investment Management LLC purchased a new stake in shares of Apple during the second quarter worth about $36,000. Permanens Capital L.P. boosted its position in shares of Apple by 185.7% in the second quarter. Permanens Capital L.P. now owns 500 shares of the iPhone maker’s stock worth $182,000 after acquiring an additional 325 shares during the last quarter. Heard Capital LLC lifted its position in Apple by 171.5% during the second quarter. Heard Capital LLC now owns 543 shares of the iPhone maker’s stock valued at $198,000 after buying an additional 343 shares in the last quarter. Finally, Arkansas Financial Group Inc. acquired a new position in shares of Apple during the second quarter worth $209,000. 59.65% of the stock is currently owned by institutional investors.
Several research firms have weighed in on AAPL. Cascend Securities boosted their target price on shares of Apple from $81.25 to $125.00 and gave the company a “buy” rating in a research note on Friday, July 31st. DZ Bank reissued a “buy” rating on shares of Apple in a report on Monday, August 31st. Atlantic Securities assumed coverage on Apple in a report on Monday, October 26th. They set an “overweight” rating and a $150.00 price objective on the stock. Monness Crespi & Hardt upped their target price on Apple from $117.50 to $144.00 and gave the company a “buy” rating in a report on Monday, August 31st. Finally, BNP Paribas upgraded Apple from an “underperform” rating to an “outperform” rating and increased their price objective for the stock from $77.00 to $140.00 in a report on Friday, September 25th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $111.67.
In other news, CEO Timothy D. Cook sold 265,160 shares of Apple stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $496.91, for a total transaction of $131,760,655.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey E. Williams sold 257,343 shares of the business’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $113.59, for a total value of $29,231,591.37. The disclosure for this sale can be found here. Insiders have sold a total of 811,974 shares of company stock valued at $194,985,342 over the last quarter. 0.05% of the stock is currently owned by corporate insiders.
Shares of NASDAQ AAPL opened at $110.44 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 1.33 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12 month low of $53.15 and a 12 month high of $137.98. The stock has a 50 day moving average of $114.17 and a 200-day moving average of $99.01. The company has a market capitalization of $1,914.74 billion, a P/E ratio of 33.88, a P/E/G ratio of 2.45 and a beta of 1.36.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, November 3rd. The iPhone maker reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.03. Apple had a return on equity of 75.15% and a net margin of 20.91%. The company had revenue of $64.70 billion during the quarter, compared to the consensus estimate of $63.33 billion. During the same period in the previous year, the company posted $3.03 EPS. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. Analysts predict that Apple Inc. will post 4.05 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 12th. Stockholders of record on Monday, November 9th will be paid a dividend of $0.205 per share. The ex-dividend date is Friday, November 6th. This represents a $0.82 annualized dividend and a dividend yield of 0.74%. Apple’s dividend payout ratio is currently 25.00%.
Apple Company Profile
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.
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