Apple Inc. (NASDAQ:AAPL) is Koa Wealth Management LLC’s 2nd Largest Position

Koa Wealth Management LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 4.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,021 shares of the iPhone maker’s stock after selling 3,322 shares during the period. Apple accounts for 12.8% of Koa Wealth Management LLC’s investment portfolio, making the stock its 2nd biggest position. Koa Wealth Management LLC’s holdings in Apple were worth $16,548,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bull Oak Capital LLC grew its position in Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares during the period. Hershey Financial Advisers LLC purchased a new stake in Apple during the second quarter valued at about $42,000. Christopher J. Hasenberg Inc grew its position in Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after acquiring an additional 144 shares during the period. ARK Investment Management LLC purchased a new stake in Apple during the third quarter valued at about $110,000. Finally, Cordant Inc. boosted its position in shares of Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after buying an additional 173 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Down 0.1 %

NASDAQ:AAPL opened at $223.66 on Friday. The firm has a market capitalization of $3.36 trillion, a PE ratio of 36.79, a price-to-earnings-growth ratio of 2.18 and a beta of 1.20. The stock has a 50 day moving average of $241.07 and a 200-day moving average of $230.77. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.46 earnings per share. Analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is 16.45%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AAPL. Sanford C. Bernstein upped their target price on Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Wedbush reaffirmed an “outperform” rating and issued a $325.00 target price on shares of Apple in a research report on Thursday. Loop Capital downgraded Apple from a “buy” rating to a “hold” rating and set a $230.00 target price for the company. in a research report on Tuesday. UBS Group reaffirmed a “neutral” rating and issued a $236.00 target price on shares of Apple in a research report on Monday, December 2nd. Finally, StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $238.14.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 4,130 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

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.