Bernard Wealth Management Corp. Has $20.43 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Bernard Wealth Management Corp. reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 91,964 shares of the iPhone maker’s stock after selling 814 shares during the period. Apple comprises about 10.0% of Bernard Wealth Management Corp.’s investment portfolio, making the stock its 3rd biggest position. Bernard Wealth Management Corp.’s holdings in Apple were worth $20,428,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Goldstone Financial Group LLC grew its holdings in Apple by 25.1% during the first quarter. Goldstone Financial Group LLC now owns 29,763 shares of the iPhone maker’s stock valued at $6,611,000 after purchasing an additional 5,977 shares during the period. Steele Capital Management Inc. grew its stake in Apple by 0.7% during the first quarter. Steele Capital Management Inc. now owns 132,832 shares of the iPhone maker’s stock worth $29,506,000 after buying an additional 954 shares in the last quarter. Kelly Financial Group LLC boosted its stake in shares of Apple by 278.2% in the 1st quarter. Kelly Financial Group LLC now owns 32,281 shares of the iPhone maker’s stock valued at $7,171,000 after purchasing an additional 23,745 shares in the last quarter. RTD Financial Advisors Inc. raised its holdings in Apple by 6.5% in the 1st quarter. RTD Financial Advisors Inc. now owns 9,609 shares of the iPhone maker’s stock valued at $2,135,000 after buying an additional 583 shares during the last quarter. Finally, CVA Family Office LLC raised its holdings in Apple by 1.8% during the 1st quarter. CVA Family Office LLC now owns 55,045 shares of the iPhone maker’s stock worth $12,227,000 after purchasing an additional 971 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Trading Down 0.1%

Shares of NASDAQ AAPL opened at $210.02 on Friday. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. The company’s fifty day moving average is $204.32 and its 200-day moving average is $216.12. The stock has a market cap of $3.14 trillion, a price-to-earnings ratio of 32.71, a P/E/G ratio of 2.35 and a beta of 1.20.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.53 EPS. Equities research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.50%. This is a positive change from Apple’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple’s dividend payout ratio (DPR) is 16.20%.

Apple declared that its Board of Directors has approved a stock repurchase program on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

AAPL has been the subject of a number of recent research reports. Needham & Company LLC restated a “hold” rating on shares of Apple in a research note on Tuesday, June 10th. Bank of America reiterated a “buy” rating and set a $235.00 price target on shares of Apple in a research report on Tuesday, June 10th. JPMorgan Chase & Co. upped their price objective on shares of Apple from $230.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday. Evercore ISI upped their price objective on shares of Apple to $250.00 and gave the stock a “buy” rating in a research report on Friday, June 6th. Finally, Monness Crespi & Hardt upped their price objective on shares of Apple to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, June 10th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $235.11.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the transaction, the insider owned 15,533 shares in the company, valued at $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the business’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the transaction, the chief financial officer directly owned 4,569 shares of the company’s stock, valued at approximately $941,214. This represents a 50.01% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Apple Company 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.