Salvus Wealth Management LLC Buys 2,755 Shares of Apple Inc. (NASDAQ:AAPL)

Salvus Wealth Management LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 11.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,693 shares of the iPhone maker’s stock after purchasing an additional 2,755 shares during the period. Apple makes up about 3.8% of Salvus Wealth Management LLC’s investment portfolio, making the stock its 4th biggest position. Salvus Wealth Management LLC’s holdings in Apple were worth $6,219,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Verus Financial Partners Inc. raised its position in shares of Apple by 0.3% in the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after purchasing an additional 48 shares during the period. Brown Financial Advisory raised its position in shares of Apple by 3.8% in the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after purchasing an additional 50 shares during the period. Core Wealth Management Inc. raised its position in shares of Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after purchasing an additional 50 shares during the period. Lowery Thomas LLC raised its position in shares of Apple by 0.7% in the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock valued at $1,602,000 after purchasing an additional 50 shares during the period. Finally, Klein Pavlis & Peasley Financial Inc. raised its position in shares of Apple by 1.1% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock valued at $949,000 after purchasing an additional 51 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AAPL has been the topic of a number of recent research reports. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and raised their price target for the stock from $205.00 to $212.92 in a research report on Monday, October 7th. Maxim Group raised their price target on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Melius Research reaffirmed a “buy” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, August 27th. Finally, TD Cowen raised their price target on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $235.25.

Insider Buying and Selling

In other news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction that occurred 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 owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock worth $92,007,745 in the last ninety days. Company insiders own 0.06% of the company’s stock.

Apple Stock Up 0.6 %

NASDAQ:AAPL opened at $229.87 on Friday. The firm’s 50 day simple moving average is $227.73 and its 200 day simple moving average is $217.81. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The company has a market cap of $3.47 trillion, a PE ratio of 37.81, a P/E/G ratio of 2.24 and a beta of 1.24.

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

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio is presently 16.45%.

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.