Apple Inc. $AAPL Position Increased by David Wealth Management LLC

David Wealth Management LLC increased its stake in Apple Inc. (NASDAQ:AAPL) by 28.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,275 shares of the iPhone maker’s stock after purchasing an additional 1,822 shares during the period. Apple accounts for 1.3% of David Wealth Management LLC’s portfolio, making the stock its 11th largest position. David Wealth Management LLC’s holdings in Apple were worth $1,698,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Ryan Investment Management Inc. bought a new stake in Apple during the 2nd quarter valued at $31,000. ROSS JOHNSON & Associates LLC raised its stake in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares in the last quarter. Elite Financial Inc. bought a new stake in Apple during the 1st quarter valued at $58,000. LSV Asset Management bought a new stake in Apple during the 4th quarter valued at $65,000. Finally, HFM Investment Advisors LLC bought a new stake in Apple during the 1st quarter valued at $99,000. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $268.81 on Tuesday. The company has a market capitalization of $3.99 trillion, a price-to-earnings ratio of 40.79, a P/E/G ratio of 2.56 and a beta of 1.09. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $269.12. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The stock’s fifty day simple moving average is $244.91 and its 200-day simple moving average is $220.14.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same period in the prior year, the business earned $1.40 EPS. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Insider Activity at Apple

In other news, SVP Katherine L. Adams sold 47,125 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the transaction, the senior vice president directly owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevan Parekh sold 4,199 shares of Apple stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total value of $1,038,790.61. Following the sale, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at approximately $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 259,121 shares of company stock worth $65,358,981 in the last quarter. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AAPL shares. Rosenblatt Securities lifted their target price on Apple from $223.00 to $241.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. Evercore ISI reiterated an “outperform” rating on shares of Apple in a research report on Monday, October 20th. Loop Capital upgraded Apple from a “hold” rating to a “buy” rating and lifted their price target for the company from $226.00 to $315.00 in a research report on Monday, October 20th. HSBC set a $220.00 price target on Apple and gave the company a “hold” rating in a research report on Monday, September 8th. Finally, Morgan Stanley set a $298.00 price target on Apple and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $252.83.

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.