Apple Inc. $AAPL is BankPlus Wealth Management LLC’s 4th Largest Position

BankPlus Wealth Management LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,523 shares of the iPhone maker’s stock after selling 300 shares during the period. Apple makes up about 3.2% of BankPlus Wealth Management LLC’s portfolio, making the stock its 4th biggest holding. BankPlus Wealth Management LLC’s holdings in Apple were worth $4,826,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. FORM Wealth Advisors LLC lifted its holdings in shares of Apple by 1.5% during the 2nd quarter. FORM Wealth Advisors LLC now owns 13,382 shares of the iPhone maker’s stock valued at $2,746,000 after purchasing an additional 194 shares during the last quarter. Blue Oak Capital LLC lifted its holdings in shares of Apple by 77.5% during the 2nd quarter. Blue Oak Capital LLC now owns 8,635 shares of the iPhone maker’s stock valued at $1,772,000 after purchasing an additional 3,771 shares during the last quarter. Legend Financial Advisors Inc. lifted its holdings in shares of Apple by 40.6% during the 2nd quarter. Legend Financial Advisors Inc. now owns 11,211 shares of the iPhone maker’s stock valued at $2,300,000 after purchasing an additional 3,237 shares during the last quarter. CX Institutional lifted its holdings in shares of Apple by 9.6% during the 2nd quarter. CX Institutional now owns 208,224 shares of the iPhone maker’s stock valued at $42,721,000 after purchasing an additional 18,246 shares during the last quarter. Finally, American National Bank & Trust lifted its holdings in shares of Apple by 2.4% during the 2nd quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock valued at $40,107,000 after purchasing an additional 4,543 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Price Performance

NASDAQ:AAPL opened at $245.27 on Friday. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. 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 stock has a market capitalization of $3.64 trillion, a PE ratio of 37.22, a price-to-earnings-growth ratio of 2.47 and a beta of 1.09. The stock’s 50-day moving average price is $237.61 and its 200-day moving average price is $215.92.

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

Apple Announces Dividend

The firm also recently announced 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. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is 15.78%.

Insider Activity

In other news, SVP Deirdre O’brien sold 43,013 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was 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 in the company, valued at $35,181,866.93. This trade represents a 23.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the sale, the senior vice president owned 179,158 shares in the company, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,922 shares of company stock worth $64,320,190 in the last ninety days. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AAPL shares. Moffett Nathanson upgraded Apple from a “sell” rating to a “neutral” rating and set a $225.00 price objective for the company in a report on Thursday, September 4th. The Goldman Sachs Group reiterated a “buy” rating and set a $266.00 price objective on shares of Apple in a report on Tuesday, August 26th. Bank of America upped their target price on Apple from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Rosenblatt Securities upped their target price on Apple from $223.00 to $241.00 and gave the company a “neutral” rating in a research report on Wednesday, September 10th. Finally, Monness Crespi & Hardt upped their target price on Apple from $245.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average price target of $248.29.

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.