GK Wealth Management LLC Sells 935 Shares of Apple Inc. $AAPL

GK Wealth Management LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 9.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 9,004 shares of the iPhone maker’s stock after selling 935 shares during the period. Apple makes up about 1.7% of GK Wealth Management LLC’s investment portfolio, making the stock its 15th biggest position. GK Wealth Management LLC’s holdings in Apple were worth $1,847,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AAPL. Norges Bank bought a new position in Apple during the 4th quarter valued at about $46,868,648,000. Nuveen LLC bought a new position in Apple during the 1st quarter valued at about $17,472,482,000. GAMMA Investing LLC lifted its holdings in Apple by 25,934.1% during the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock valued at $133,425,490,000 after purchasing an additional 59,835,676 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Apple by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock valued at $349,532,608,000 after purchasing an additional 49,168,843 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Stock Up 3.2%

Shares of NASDAQ AAPL opened at $245.50 on Friday. The stock has a market cap of $3.64 trillion, a P/E ratio of 37.25, a P/E/G ratio of 2.47 and a beta of 1.11. The firm has a 50 day moving average price of $224.35 and a 200 day moving average price of $212.42. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.40 earnings per share. Analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s payout ratio is currently 15.78%.

Insider Transactions at Apple

In related news, SVP Deirdre O’brien sold 34,821 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several analyst reports. DA Davidson reissued a “neutral” rating and set a $250.00 price target on shares of Apple in a report on Thursday, September 11th. JPMorgan Chase & Co. raised their price objective on shares of Apple from $255.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday. UBS Group restated a “neutral” rating on shares of Apple in a research report on Monday, September 8th. HSBC set a $220.00 price objective on shares of Apple and gave the company a “hold” rating in a research report on Monday, September 8th. Finally, Melius Research set a $290.00 price objective on shares of Apple and gave the company a “buy” rating in a research report on Wednesday, September 10th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $242.74.

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.