Latko Wealth Management Ltd. Invests $3.15 Million in Apple Inc. (NASDAQ:AAPL)

Latko Wealth Management Ltd. purchased a new position in Apple Inc. (NASDAQ:AAPL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,537 shares of the iPhone maker’s stock, valued at approximately $3,154,000. Apple accounts for about 1.9% of Latko Wealth Management Ltd.’s investment portfolio, making the stock its 12th biggest position.

Other institutional investors have also added to or reduced their stakes in the company. High Net Worth Advisory Group LLC increased its stake in Apple by 1.7% in the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after acquiring an additional 1,066 shares during the last quarter. Granite Investment Partners LLC increased its stake in Apple by 2.7% in the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after acquiring an additional 7,606 shares during the last quarter. Truist Financial Corp increased its stake in Apple by 1.8% in the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after acquiring an additional 126,210 shares during the last quarter. Sterling Investment Counsel LLC increased its stake in Apple by 3.8% in the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after acquiring an additional 2,565 shares during the last quarter. Finally, EP Wealth Advisors LLC increased its stake in Apple by 5.2% in the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock valued at $406,099,000 after acquiring an additional 95,235 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Activity at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Apple Price Performance

AAPL stock opened at $243.36 on Monday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The company has a market cap of $3.68 trillion, a P/E ratio of 40.03, a PEG ratio of 2.41 and a beta of 1.20. The firm has a 50-day moving average of $238.91 and a 200 day moving average of $229.08. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

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

Apple Dividend Announcement

The company also recently declared 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. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AAPL. Rosenblatt Securities increased their target price on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Oppenheimer restated a “buy” rating and set a $250.00 price target on shares of Apple in a research report on Tuesday, October 1st. New Street Research restated a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, September 25th. KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a research report on Friday, October 25th. Finally, Citigroup upped their price target on shares of Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $238.03.

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.