MBM Wealth Consultants LLC Increases Position in Apple Inc. $AAPL

MBM Wealth Consultants LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,381 shares of the iPhone maker’s stock after purchasing an additional 346 shares during the quarter. Apple comprises 1.0% of MBM Wealth Consultants LLC’s investment portfolio, making the stock its 14th biggest position. MBM Wealth Consultants LLC’s holdings in Apple were worth $3,416,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Conquis Financial LLC acquired a new position in Apple in the 4th quarter valued at about $63,000. LSV Asset Management acquired a new position in Apple in the 4th quarter valued at about $65,000. Pillar Financial Advisors LLC acquired a new position in Apple in the 4th quarter valued at about $82,000. Compass Planning Associates Inc acquired a new position in Apple in the 4th quarter valued at about $96,000. Finally, Sellwood Investment Partners LLC acquired a new position in Apple in the 4th quarter valued at about $147,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Trading Down 0.1%

Shares of NASDAQ:AAPL opened at $230.56 on Wednesday. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company’s 50 day moving average is $210.83 and its two-hundred day moving average is $213.06. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The company has a market cap of $3.42 trillion, a PE ratio of 34.99, a P/E/G ratio of 2.42 and a beta of 1.16.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. During the same period in the prior year, the firm posted $1.40 EPS. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. Apple’s dividend payout ratio is currently 15.78%.

Apple announced that its Board of Directors has approved a share buyback plan 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 plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AAPL shares. Morgan Stanley upped their price objective on shares of Apple from $235.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. BMO Capital Markets restated a “buy” rating on shares of Apple in a report on Wednesday, August 13th. Scotiabank lowered shares of Apple to a “market perform” rating in a report on Friday, May 2nd. Evercore ISI restated an “outperform” rating and issued a $250.00 price objective on shares of Apple in a report on Wednesday, August 13th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Apple in a report on Wednesday, May 21st. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $237.60.

Insider Activity at Apple

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.06% of the company’s stock.

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.