BankPlus Wealth Management LLC Invests $6.11 Million in Apple Inc. (NASDAQ:AAPL)

BankPlus Wealth Management LLC purchased a new position in Apple Inc. (NASDAQ:AAPL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 24,401 shares of the iPhone maker’s stock, valued at approximately $6,110,000. Apple comprises approximately 4.6% of BankPlus Wealth Management LLC’s portfolio, making the stock its 4th largest position.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bull Oak Capital LLC raised its position in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the period. Christopher J. Hasenberg Inc grew its stake in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares in the last quarter. SPX Gestao de Recursos Ltda acquired a new position in Apple during the 3rd quarter worth $71,000. Teachers Insurance & Annuity Association of America acquired a new position in Apple during the 3rd quarter worth $77,000. Finally, ARK Investment Management LLC acquired a new position in shares of Apple during the 3rd quarter worth about $110,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on AAPL shares. Barclays upped their price objective on Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Oppenheimer downgraded Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Bank of America increased their target price on Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. The Goldman Sachs Group restated a “buy” rating on shares of Apple in a report on Wednesday, February 19th. Finally, DA Davidson set a $290.00 target price on Apple in a report on Friday, January 31st. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $243.65.

Apple Trading Up 1.9 %

NASDAQ:AAPL opened at $218.27 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The business’s 50-day simple moving average is $231.82 and its 200 day simple moving average is $233.26. The stock has a market cap of $3.28 trillion, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18.

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

Apple Dividend Announcement

The firm also recently disclosed 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 was Monday, February 10th. Apple’s dividend payout ratio (DPR) is 15.87%.

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.