Apple Inc. $AAPL is Carlton Hofferkamp & Jenks Wealth Management LLC’s 7th Largest Position

Carlton Hofferkamp & Jenks Wealth Management LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 40,597 shares of the iPhone maker’s stock after selling 798 shares during the period. Apple comprises approximately 3.1% of Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings, making the stock its 7th largest position. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Apple were worth $8,487,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of AAPL. Ryan Investment Management Inc. purchased a new stake in Apple during the 2nd quarter valued at approximately $31,000. ROSS JOHNSON & Associates LLC boosted its position in shares of Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares during the last quarter. Nexus Investment Management ULC boosted its position in shares of Apple by 333.3% during the second quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock worth $53,000 after acquiring an additional 200 shares during the last quarter. Elite Financial Inc. purchased a new position in Apple during the first quarter valued at $58,000. Finally, LSV Asset Management bought a new stake in Apple in the 4th quarter valued at $65,000. 67.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Apple

In related news, CFO Kevan Parekh sold 4,199 shares of the firm’s stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the sale, the chief financial officer owned 8,765 shares of the company’s stock, valued at $2,168,373.35. This trade represents a 32.39% 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, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The stock was 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 directly owned 179,158 shares in the company, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 228,052 shares of company stock worth $58,604,588. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AAPL. Jefferies Financial Group upgraded Apple from an “underperform” rating to a “hold” rating and raised their price objective for the company from $203.07 to $246.99 in a research report on Friday, October 31st. DA Davidson raised their price target on Apple from $250.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Argus set a $325.00 price objective on Apple and gave the stock a “buy” rating in a research note on Friday, October 31st. Evercore ISI increased their target price on Apple from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Finally, Wedbush reissued an “outperform” rating on shares of Apple in a report on Tuesday, October 21st. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $278.22.

Apple Stock Performance

Shares of Apple stock opened at $276.97 on Wednesday. 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’s fifty day moving average is $261.05 and its two-hundred day moving average is $230.47. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $280.38. The company has a market capitalization of $4.09 trillion, a PE ratio of 42.03, a price-to-earnings-growth ratio of 2.62 and a beta of 1.09.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, topping the consensus estimate of $1.74 by $0.11. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. During the same quarter last year, the firm posted $1.64 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. As a group, analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 10th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, November 10th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s dividend payout ratio is currently 13.92%.

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.