Marion Wealth Management Buys 820 Shares of Apple Inc. (NASDAQ:AAPL)

Marion Wealth Management boosted its position in Apple Inc. (NASDAQ:AAPL) by 2.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,002 shares of the iPhone maker’s stock after buying an additional 820 shares during the quarter. Apple makes up about 2.2% of Marion Wealth Management’s holdings, making the stock its 11th largest position. Marion Wealth Management’s holdings in Apple were worth $8,389,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Granite Investment Partners LLC grew its holdings in Apple by 2.7% during the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after buying an additional 7,606 shares in the last quarter. Truist Financial Corp grew its stake in Apple by 1.8% during the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after acquiring an additional 126,210 shares in the last quarter. EP Wealth Advisors LLC increased its holdings in Apple by 5.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after acquiring an additional 95,235 shares during the period. Bellwether Advisors LLC lifted its stake in Apple by 387.3% in the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after purchasing an additional 19,352 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Apple by 34.9% during the 3rd quarter. GAMMA Investing LLC now owns 200,214 shares of the iPhone maker’s stock valued at $46,650,000 after purchasing an additional 51,842 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors.

Apple Stock Up 0.6 %

Shares of Apple stock opened at $229.87 on Monday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The company has a market cap of $3.47 trillion, a P/E ratio of 37.81, a PEG ratio of 2.24 and a beta of 1.24. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The company’s fifty day simple moving average is $227.73 and its two-hundred day simple moving average is $218.30.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.46 earnings per share. Research analysts anticipate that Apple Inc. will post 7.43 EPS 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. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Analyst Ratings Changes

A number of brokerages recently issued reports on AAPL. Evercore ISI reiterated a “buy” rating and issued a $250.00 price objective on shares of Apple in a research report on Thursday, September 26th. Citigroup boosted their price objective on Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Jefferies Financial Group downgraded shares of Apple from a “buy” rating to a “hold” rating and raised their target price for the company from $205.00 to $212.92 in a research note on Monday, October 7th. KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a report on Friday, October 25th. Finally, Bank of America reiterated a “buy” rating and issued a $256.00 target price on shares of Apple in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.25.

Insider Buying and Selling at Apple

In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. This trade represents a 10.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the transaction, the senior vice president now owns 187,043 shares of the company’s stock, valued at $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock valued at $92,007,745 in the last 90 days. 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.