Rolek Wealth Management LLC Buys New Stake in Apple Inc. (NASDAQ:AAPL)

Rolek Wealth Management LLC bought a new stake in Apple Inc. (NASDAQ:AAPL) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 2,680 shares of the iPhone maker’s stock, valued at approximately $671,000. Apple accounts for 0.5% of Rolek Wealth Management LLC’s investment portfolio, making the stock its 6th largest holding.

Several other large investors have also recently made changes to their positions in AAPL. Bull Oak Capital LLC raised 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 worth $36,000 after acquiring an additional 111 shares during the period. Hershey Financial Advisers LLC purchased a new stake in shares of Apple during the second quarter worth $42,000. SPX Gestao de Recursos Ltda purchased a new stake in shares of Apple during the third quarter worth $71,000. Christopher J. Hasenberg Inc grew its holdings in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares in the last quarter. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in shares of Apple during the third quarter worth $77,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of analyst reports. Bank of America upped their price objective on shares of Apple from $253.00 to $265.00 and gave the company a “buy” rating in a report on Friday, January 31st. Argus raised shares of Apple to a “strong-buy” rating in a research report on Friday, January 31st. Citigroup upped their target price on shares of Apple from $255.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Evercore ISI upped their target price on shares of Apple to $260.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Apple in a research report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $243.22.

Insider Activity at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Performance

Shares of AAPL opened at $216.98 on Thursday. The stock has a 50 day moving average price of $235.80 and a 200 day moving average price of $234.00. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $3.26 trillion, a price-to-earnings ratio of 34.44, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. Apple Inc. has a 52-week low of $164.08 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio (DPR) is 15.87%.

Apple Company 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.