Apple Inc. $AAPL is Marietta Wealth Management LLC’s 3rd Largest Position

Marietta Wealth Management LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 121,266 shares of the iPhone maker’s stock after buying an additional 1,965 shares during the period. Apple comprises about 3.2% of Marietta Wealth Management LLC’s holdings, making the stock its 3rd biggest position. Marietta Wealth Management LLC’s holdings in Apple were worth $24,880,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. First National Bank of Hutchinson boosted its position in shares of Apple by 24.6% in 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 boosted its position in shares of Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after acquiring an additional 272 shares during the period. Brighton Jones LLC boosted its position in shares of Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after acquiring an additional 69,207 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Apple by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after acquiring an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE boosted its position in shares of Apple by 2.4% in the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock valued at $12,587,000 after acquiring an additional 1,155 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AAPL shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research note on Friday, July 25th. Rosenblatt Securities raised their target price on shares of Apple from $223.00 to $241.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. Melius Research set a $290.00 price target on shares of Apple and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Bank of America lifted their price target on shares of Apple from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Finally, Citigroup reissued a “buy” rating on shares of Apple in a research note on Wednesday, September 10th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average target price of $252.83.

Insider Activity at Apple

In other news, SVP Katherine L. Adams sold 47,125 shares of the company’s 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 sale, the senior vice president owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This represents a 20.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevan Parekh sold 4,199 shares of the company’s stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the sale, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at $2,168,373.35. The trade was a 32.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 259,121 shares of company stock worth $65,358,981 over the last quarter. 0.06% of the stock is currently owned by insiders.

Apple Stock Up 2.3%

Shares of NASDAQ AAPL opened at $268.81 on Tuesday. 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 52 week low of $169.21 and a 52 week high of $269.12. The firm’s fifty day moving average is $244.91 and its 200 day moving average is $220.14. The company has a market cap of $3.99 trillion, a price-to-earnings ratio of 40.79, a PEG ratio of 2.56 and a beta of 1.09.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.40 earnings per share. On average, equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders 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 yield of 0.4%. 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.