SK Wealth Management LLC Takes $3.30 Million Position in Apple Inc. (NASDAQ:AAPL)

SK Wealth Management LLC acquired a new stake in Apple Inc. (NASDAQ:AAPL) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,927 shares of the iPhone maker’s stock, valued at approximately $3,304,000. Apple makes up 1.3% of SK Wealth Management LLC’s portfolio, making the stock its 11th largest position.

Other large investors have also made changes to their positions in the company. SMART Wealth LLC increased its holdings in shares of Apple by 3.6% in the third quarter. SMART Wealth LLC now owns 14,580 shares of the iPhone maker’s stock worth $3,397,000 after purchasing an additional 507 shares during the last quarter. Legacy Wealth Management LLC MS increased its holdings in shares of Apple by 7.6% in the third quarter. Legacy Wealth Management LLC MS now owns 73,945 shares of the iPhone maker’s stock worth $17,229,000 after purchasing an additional 5,231 shares during the last quarter. SPX Gestao de Recursos Ltda bought a new stake in shares of Apple in the third quarter worth about $71,000. Alternative Investment Advisors LLC. increased its holdings in shares of Apple by 6.7% in the third quarter. Alternative Investment Advisors LLC. now owns 5,831 shares of the iPhone maker’s stock worth $1,359,000 after purchasing an additional 366 shares during the last quarter. Finally, Birmingham Capital Management Co. Inc. AL increased its stake in Apple by 23.6% during the third quarter. Birmingham Capital Management Co. Inc. AL now owns 24,462 shares of the iPhone maker’s stock worth $5,700,000 after acquiring an additional 4,675 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AAPL shares. Jefferies Financial Group cut Apple from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $211.84 to $200.75 in a research note on Thursday, January 30th. Raymond James upped their target price on Apple to $250.00 and gave the company a “buy” rating in a research note on Monday, January 20th. UBS Group reaffirmed a “neutral” rating and set a $236.00 target price on shares of Apple in a research note on Monday, December 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Apple in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. upped their target price on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research note 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. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $242.52.

Apple Stock Up 1.3 %

Shares of AAPL opened at $244.60 on Monday. The firm has a market cap of $3.67 trillion, a PE ratio of 38.83, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. The company’s fifty day moving average is $240.70 and its two-hundred day moving average is $231.68. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

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

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.41%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio is currently 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.