Salvus Wealth Management LLC Has $4.75 Million Holdings in Apple Inc. $AAPL

Salvus Wealth Management LLC lowered its stake in Apple Inc. (NASDAQ:AAPL) by 5.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,172 shares of the iPhone maker’s stock after selling 1,446 shares during the period. Apple makes up approximately 2.8% of Salvus Wealth Management LLC’s investment portfolio, making the stock its 9th biggest position. Salvus Wealth Management LLC’s holdings in Apple were worth $4,754,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AAPL. Ryan Investment Management Inc. bought a new position in shares of Apple during the second quarter valued at approximately $31,000. ROSS JOHNSON & Associates LLC lifted its holdings in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares during the period. Life Planning Partners Inc bought a new stake in Apple during the 4th quarter valued at $47,000. Elite Financial Inc. purchased a new position in shares of Apple in the 1st quarter valued at $58,000. Finally, Conquis Financial LLC bought a new position in shares of Apple in the 4th quarter worth $63,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on AAPL. The Goldman Sachs Group reissued a “buy” rating and set a $266.00 price target on shares of Apple in a research report on Tuesday, August 26th. DA Davidson reissued a “neutral” rating and set a $250.00 target price on shares of Apple in a research report on Thursday, September 11th. BMO Capital Markets restated a “buy” rating on shares of Apple in a research note on Wednesday, August 13th. Tigress Financial upped their price target on Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 17th. Finally, Bank of America increased their price objective on Apple from $260.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $247.51.

Apple Stock Performance

NASDAQ AAPL opened at $257.13 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The stock’s 50 day simple moving average is $232.20 and its 200-day simple moving average is $214.38. The company has a market cap of $3.82 trillion, a PE ratio of 39.02, a price-to-earnings-growth ratio of 2.48 and a beta of 1.09. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL) last released 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. The company had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.40 EPS. As a group, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

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

Insider Activity

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

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.