Apple Inc. (NASDAQ:AAPL) Position Decreased by BKA Wealth Consulting Inc.

BKA Wealth Consulting Inc. trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,183 shares of the iPhone maker’s stock after selling 77 shares during the period. Apple comprises about 2.3% of BKA Wealth Consulting Inc.’s portfolio, making the stock its 10th biggest position. BKA Wealth Consulting Inc.’s holdings in Apple were worth $1,746,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Stableford Capital II LLC increased its stake in shares of Apple by 0.3% during the first quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock worth $2,942,000 after buying an additional 59 shares during the period. Alaska Permanent Fund Corp increased its stake in Apple by 3.2% in the first quarter. Alaska Permanent Fund Corp now owns 26,107 shares of the iPhone maker’s stock valued at $4,477,000 after purchasing an additional 818 shares during the last quarter. Osher Van de Voorde Investment Management increased its stake in Apple by 10.0% in the first quarter. Osher Van de Voorde Investment Management now owns 101,555 shares of the iPhone maker’s stock valued at $17,415,000 after purchasing an additional 9,230 shares during the last quarter. Rise Advisors LLC increased its stake in Apple by 133.9% in the first quarter. Rise Advisors LLC now owns 4,523 shares of the iPhone maker’s stock valued at $776,000 after purchasing an additional 2,589 shares during the last quarter. Finally, CJM Wealth Advisers Ltd. increased its stake in Apple by 0.5% in the first quarter. CJM Wealth Advisers Ltd. now owns 18,528 shares of the iPhone maker’s stock valued at $3,177,000 after purchasing an additional 100 shares during the last quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. DA Davidson upgraded shares of Apple from a “neutral” rating to a “buy” rating and increased their price target for the company from $200.00 to $230.00 in a research note on Tuesday, June 11th. Sanford C. Bernstein increased their price target on shares of Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday. Monness Crespi & Hardt restated a “buy” rating and set a $205.00 target price on shares of Apple in a research report on Thursday, June 6th. Barclays restated an “underweight” rating and set a $164.00 target price on shares of Apple in a research report on Tuesday, June 11th. Finally, Canaccord Genuity Group raised their target price on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Saturday, May 4th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $209.38.

Insider Transactions at Apple

In other news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the sale, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the sale, the insider now owns 29,278 shares of the company’s stock, valued at approximately $5,574,531.20. The disclosure for this sale can be found here. Insiders sold 346,270 shares of company stock valued at $60,880,196 in the last 90 days. 0.06% of the stock is currently owned by insiders.

Apple Trading Down 1.0 %

NASDAQ:AAPL opened at $207.49 on Friday. The company has a market capitalization of $3.18 trillion, a PE ratio of 32.27, a price-to-earnings-growth ratio of 2.55 and a beta of 1.25. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $220.20. The stock has a fifty day simple moving average of $187.87 and a 200-day simple moving average of $184.81.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. The business had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The business’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.52 EPS. On average, equities research analysts expect that Apple Inc. will post 6.58 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Friday, May 10th. This is an increase from Apple’s previous quarterly dividend of $0.24. Apple’s payout ratio is 15.55%.

Apple announced that its board has approved a share repurchase program on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in shares. This buyback authorization authorizes the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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.