Apple Inc. (NASDAQ:AAPL) Stock Position Increased by BKM Wealth Management LLC

BKM Wealth Management LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 98.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,416 shares of the iPhone maker’s stock after purchasing an additional 22,502 shares during the period. Apple makes up 4.3% of BKM Wealth Management LLC’s investment portfolio, making the stock its 3rd largest holding. BKM Wealth Management LLC’s holdings in Apple were worth $10,582,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System grew its stake in shares of Apple by 1.4% during the 3rd quarter. Louisiana State Employees Retirement System now owns 1,305,000 shares of the iPhone maker’s stock valued at $304,065,000 after purchasing an additional 17,900 shares during the period. Lyell Wealth Management LP grew its position in Apple by 0.3% during the third quarter. Lyell Wealth Management LP now owns 184,977 shares of the iPhone maker’s stock valued at $43,100,000 after buying an additional 576 shares during the period. Smith & Howard Wealth Management LLC increased its holdings in Apple by 0.8% during the third quarter. Smith & Howard Wealth Management LLC now owns 13,484 shares of the iPhone maker’s stock valued at $3,142,000 after buying an additional 107 shares during the last quarter. CWC Advisors LLC. purchased a new position in shares of Apple during the 3rd quarter worth $5,757,000. Finally, Mayfair Advisory Group LLC boosted its stake in shares of Apple by 1.0% during the 3rd quarter. Mayfair Advisory Group LLC now owns 30,390 shares of the iPhone maker’s stock worth $6,892,000 after acquiring an additional 289 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $258.20 on Thursday. The firm’s 50 day simple moving average is $235.93 and its 200-day simple moving average is $226.77. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a one year low of $164.07 and a one year high of $258.21. The firm has a market cap of $3.90 trillion, a PE ratio of 42.47, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period last year, the business posted $1.46 EPS. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, equities analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Analyst Ratings Changes

Several analysts have issued reports on AAPL shares. Needham & Company LLC reissued a “buy” rating and set a $260.00 price target on shares of Apple in a report on Tuesday, December 10th. Morgan Stanley reissued an “overweight” rating and set a $273.00 target price on shares of Apple in a research note on Friday, December 13th. Bank of America upped their target price on shares of Apple to $256.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $265.00 price target on shares of Apple in a research note on Tuesday, September 10th. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $236.78.

Insiders Place Their Bets

In related news, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the transaction, the senior vice president now owns 187,043 shares of the company’s stock, valued at $42,309,126.60. The trade was a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $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 in the last three months. Corporate insiders own 0.06% of the company’s stock.

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.