Virginia Wealth Management Group Inc. Has $4.30 Million Holdings in Apple Inc. $AAPL

Virginia Wealth Management Group Inc. lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,946 shares of the iPhone maker’s stock after purchasing an additional 53 shares during the period. Apple makes up about 2.6% of Virginia Wealth Management Group Inc.’s investment portfolio, making the stock its 20th biggest position. Virginia Wealth Management Group Inc.’s holdings in Apple were worth $4,298,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. First National Bank of Hutchinson lifted its stake in shares of Apple by 24.6% during the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after acquiring an additional 6,982 shares during the period. Eagle Capital Management LLC raised its holdings in Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after purchasing an additional 272 shares during the last quarter. Brighton Jones LLC raised its holdings in Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after purchasing an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in Apple by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after purchasing an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE boosted its stake in shares of Apple by 2.4% in the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock valued at $12,587,000 after purchasing an additional 1,155 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AAPL shares. The Goldman Sachs Group reiterated a “buy” rating and set a $266.00 price target on shares of Apple in a research report on Tuesday, August 26th. Wedbush set a $310.00 target price on shares of Apple and gave the stock an “outperform” rating in a report on Monday, September 22nd. Bank of America upped their target price on shares of Apple from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Rosenblatt Securities raised their price target on Apple from $223.00 to $241.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. Finally, Evercore ISI set a $290.00 price objective on Apple and gave the stock an “outperform” rating in a research note on Friday, September 26th. Four equities research 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $248.29.

Insider Buying and Selling

In other news, CEO Timothy D. Cook sold 129,963 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were 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 directly owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. This trade represents a 3.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction that occurred on 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 sale, 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 disclosure for this sale can be found here. Over the last three months, insiders sold 254,922 shares of company stock worth $64,320,190. 0.06% of the stock is owned by corporate insiders.

Apple Price Performance

Shares of AAPL opened at $247.66 on Tuesday. The stock has a 50 day simple moving average of $238.50 and a 200 day simple moving average of $216.04. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a market capitalization of $3.68 trillion, a PE ratio of 37.58, a P/E/G ratio of 2.39 and a beta of 1.09.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion during 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 company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.40 EPS. Sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed 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 of this dividend was Monday, August 11th. Apple’s dividend payout ratio is currently 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.