Apple Inc. $AAPL Shares Sold by DKM Wealth Management Inc.

DKM Wealth Management Inc. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,300 shares of the iPhone maker’s stock after selling 93 shares during the quarter. Apple comprises approximately 3.8% of DKM Wealth Management Inc.’s investment portfolio, making the stock its 9th biggest holding. DKM Wealth Management Inc.’s holdings in Apple were worth $4,370,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AAPL. Burkett Financial Services LLC grew its holdings in Apple by 0.6% during the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock valued at $3,199,000 after purchasing an additional 93 shares during the period. Avid Wealth Partners LLC grew its holdings in Apple by 28.3% during the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after purchasing an additional 930 shares during the period. Bell & Brown Wealth Advisors LLC grew its holdings in Apple by 0.4% during the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock valued at $13,772,000 after purchasing an additional 240 shares during the period. Andina Capital Management LLC grew its holdings in Apple by 209.2% during the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock valued at $1,507,000 after purchasing an additional 4,591 shares during the period. Finally, Plum Street Advisors LLC grew its holdings in Apple by 4.0% during the first quarter. Plum Street Advisors LLC now owns 7,889 shares of the iPhone maker’s stock valued at $1,752,000 after purchasing an additional 301 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AAPL. Tigress Financial boosted their price objective on shares of Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 17th. Evercore ISI set a $290.00 price target on shares of Apple and gave the company an “outperform” rating in a report on Friday, September 26th. The Goldman Sachs Group reiterated a “buy” rating and issued a $266.00 price target on shares of Apple in a report on Tuesday, August 26th. Phillip Securities cut shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price target for the company. in a report on Thursday, September 11th. Finally, Wedbush set a $310.00 price target on shares of Apple and gave the company an “outperform” rating in a report on Monday, September 22nd. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $247.49.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O’brien sold 43,013 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of the company’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,922 shares of company stock valued at $64,320,190 over the last 90 days. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

Shares of AAPL stock opened at $256.48 on Wednesday. The company’s fifty day simple moving average is $234.84 and its 200-day simple moving average is $215.25. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The firm has a market cap of $3.81 trillion, a PE ratio of 38.92, a P/E/G ratio of 2.50 and a beta of 1.09. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.

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

Apple Announces Dividend

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

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.