Rezny Wealth Management Inc. Acquires 352 Shares of Apple Inc. $AAPL

Rezny Wealth Management Inc. raised its stake in Apple Inc. (NASDAQ:AAPL) by 3.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,677 shares of the iPhone maker’s stock after buying an additional 352 shares during the period. Apple comprises about 0.4% of Rezny Wealth Management Inc.’s portfolio, making the stock its 24th biggest position. Rezny Wealth Management Inc.’s holdings in Apple were worth $1,985,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. Burkett Financial Services LLC increased its stake in Apple by 0.6% in 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 in the last quarter. Avid Wealth Partners LLC grew its stake in shares of Apple by 28.3% in the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after buying an additional 930 shares during the period. Bell & Brown Wealth Advisors LLC grew its stake in shares of Apple by 0.4% in the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock valued at $13,772,000 after buying an additional 240 shares during the period. American National Bank & Trust increased its position in Apple by 2.4% in the 2nd quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock valued at $40,107,000 after buying an additional 4,543 shares in the last quarter. Finally, Andina Capital Management LLC raised its stake in Apple by 209.2% during the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after buying an additional 4,591 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AAPL. Seaport Res Ptn upgraded shares of Apple to a “strong-buy” rating in a report on Wednesday, October 1st. Monness Crespi & Hardt boosted their target price on shares of Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Citigroup restated a “buy” rating on shares of Apple in a report on Wednesday, September 10th. Bank of America boosted their price objective on Apple from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Finally, Sanford C. Bernstein began coverage on Apple in a report on Monday, September 15th. They issued an “outperform” rating and a $290.00 target price on the stock. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average price target of $248.29.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the transaction, the senior vice president owned 179,158 shares in the company, valued at $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. The trade was a 3.81% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,922 shares of company stock valued at $64,320,190. 0.06% of the stock is owned by insiders.

Apple Stock Down 3.5%

Apple stock opened at $245.27 on Friday. The firm has a 50 day moving average price of $237.61 and a 200-day moving average price of $215.88. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a market capitalization of $3.64 trillion, a P/E ratio of 37.22, a P/E/G ratio of 2.39 and a beta of 1.09.

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

Apple Announces Dividend

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

Apple 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.