MBE Wealth Management LLC Has $1.02 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

MBE Wealth Management LLC boosted its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,819 shares of the iPhone maker’s stock after purchasing an additional 158 shares during the quarter. Apple comprises 0.6% of MBE Wealth Management LLC’s holdings, making the stock its 25th biggest position. MBE Wealth Management LLC’s holdings in Apple were worth $1,015,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc acquired a new position in Apple in the first quarter valued at approximately $35,000. Fidelis Capital Partners LLC raised its position in shares of Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after acquiring an additional 31,278 shares during the last quarter. A.P. Gilfoyle & Co. L.P. acquired a new position in shares of Apple in the 4th quarter valued at $39,000. University of Texas Texas AM Investment Managment Co. lifted its stake in shares of Apple by 657.1% in the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after purchasing an additional 368 shares during the period. Finally, Clarity Asset Management Inc. bought a new position in shares of Apple in the 4th quarter worth $85,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AAPL. Melius Research reiterated a “buy” rating and issued a $265.00 price target on shares of Apple in a research report on Tuesday, August 27th. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Tuesday, September 10th. Wedbush reissued an “outperform” rating and issued a $285.00 price target on shares of Apple in a research note on Monday, September 9th. Raymond James upped their price objective on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Evercore ISI reissued an “outperform” rating and issued a $250.00 target price on shares of Apple in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $239.17.

Apple Trading Down 0.3 %

Shares of AAPL stock opened at $228.20 on Friday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.23. The firm has a 50 day moving average price of $222.41 and a two-hundred day moving average price of $199.99. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $3.50 trillion, a PE ratio of 35.49, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same period in the previous year, the company posted $1.26 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, analysts predict that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is currently 15.55%.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares in the company, valued at $3,469,275. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock worth $23,723,887 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

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.