David Wealth Management LLC Invests $1.62 Million in Apple Inc. (NASDAQ:AAPL)

David Wealth Management LLC bought a new position in shares of Apple Inc. (NASDAQ:AAPL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,462 shares of the iPhone maker’s stock, valued at approximately $1,618,000. Apple accounts for approximately 1.3% of David Wealth Management LLC’s portfolio, making the stock its 11th largest holding.

Other institutional investors also recently bought and sold shares of the company. Amara Financial LLC. acquired a new position in Apple in the 3rd quarter worth about $288,000. Sterling Investment Counsel LLC increased its position in shares of 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 buying an additional 2,565 shares in the last quarter. Silicon Valley Capital Partners lifted its position in shares of Apple by 12.8% during the 3rd quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock valued at $59,122,000 after buying an additional 28,799 shares in the last quarter. Catalyst Financial Partners LLC grew its stake in Apple by 4.2% in the 3rd quarter. Catalyst Financial Partners LLC now owns 96,589 shares of the iPhone maker’s stock valued at $22,505,000 after acquiring an additional 3,935 shares during the period. Finally, Narwhal Capital Management increased its holdings in Apple by 2.5% in the 3rd quarter. Narwhal Capital Management now owns 276,791 shares of the iPhone maker’s stock worth $64,492,000 after acquiring an additional 6,711 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Performance

Shares of AAPL stock opened at $202.52 on Tuesday. The firm has a market cap of $3.04 trillion, a P/E ratio of 32.15, a P/E/G ratio of 2.44 and a beta of 1.26. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The firm’s 50 day moving average price is $222.27 and its 200-day moving average price is $230.99.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. As a group, equities research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, February 10th. Apple’s payout ratio is 15.87%.

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 108,136 shares of the business’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the transaction, the chief executive officer now directly owns 3,280,295 shares of the company’s stock, valued at $733,637,976.75. The trade was a 3.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the sale, the chief operating officer now directly owns 390,059 shares in the company, valued at $87,377,116.59. This represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 182,451 shares of company stock valued at $40,818,720 in the last ninety days. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AAPL shares. Jefferies Financial Group raised shares of Apple from an “underperform” rating to a “hold” rating and cut their target price for the stock from $202.33 to $167.88 in a research note on Wednesday, April 9th. UBS Group raised their target price on Apple to $236.00 and gave the company a “buy” rating in a research report on Monday. Evercore ISI boosted their price target on Apple from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 18th. Oppenheimer lowered Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Finally, Moffett Nathanson reaffirmed a “sell” rating and set a $188.00 target price (down previously from $202.00) on shares of Apple in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.85.

Apple 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.