MOKAN Wealth Management Inc. Takes Position in Apple Inc. (NASDAQ:AAPL)

MOKAN Wealth Management Inc. purchased a new stake in shares of Apple Inc. (NASDAQ:AAPL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 25,563 shares of the iPhone maker’s stock, valued at approximately $6,404,000. Apple comprises 4.1% of MOKAN Wealth Management Inc.’s holdings, making the stock its 6th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Drystone LLC purchased a new position in Apple during the 4th quarter valued at $25,000. Bull Oak Capital LLC increased its position in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after buying an additional 111 shares during the period. Life Planning Partners Inc purchased a new stake in Apple in the fourth quarter worth about $47,000. SPX Gestao de Recursos Ltda bought a new stake in Apple during the 3rd quarter valued at approximately $71,000. Finally, Teachers Insurance & Annuity Association of America bought a new position in shares of Apple in the 3rd quarter worth approximately $77,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Trading Down 1.9 %

Shares of AAPL stock opened at $193.16 on Tuesday. Apple Inc. has a 1 year low of $164.77 and a 1 year high of $260.10. The firm has a fifty day moving average price of $218.77 and a 200-day moving average price of $229.90. The company has a market cap of $2.90 trillion, a price-to-earnings ratio of 30.66, a PEG ratio of 2.44 and a beta of 1.26. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.

Apple (NASDAQ:AAPL) last posted 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 analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.52%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio is currently 15.87%.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the sale, the senior vice president now directly owns 179,158 shares in the company, valued at approximately $40,072,269.86. The trade was a 17.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey E. Williams sold 35,493 shares of the firm’s 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 transaction, the chief operating officer now owns 390,059 shares of the company’s stock, valued at approximately $87,377,116.59. The trade was a 8.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 182,451 shares of company stock worth $40,818,720. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on AAPL shares. KeyCorp upgraded Apple from an “underweight” rating to a “sector weight” rating in a report on Monday, April 14th. JPMorgan Chase & Co. lowered their price target on shares of Apple from $270.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Needham & Company LLC restated a “buy” rating and issued a $225.00 price objective on shares of Apple in a report on Monday, April 14th. Citigroup dropped their price target on Apple from $275.00 to $245.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Raymond James lifted their price objective on Apple to $250.00 and gave the company a “buy” rating in a research note on Friday, April 4th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $235.85.

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.