Marcum Wealth LLC Has $21.37 Million Stake in Apple Inc. (NASDAQ:AAPL)

Marcum Wealth LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,734 shares of the iPhone maker’s stock after purchasing an additional 674 shares during the period. Apple accounts for about 2.0% of Marcum Wealth LLC’s investment portfolio, making the stock its 9th largest holding. Marcum Wealth LLC’s holdings in Apple were worth $21,374,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Hershey Financial Advisers LLC purchased a new position in Apple in the 2nd quarter worth about $42,000. Hoese & Co LLP boosted its holdings in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares during the period. Sage Financial Group Inc. purchased a new position in shares of Apple in the second quarter worth approximately $206,000. Benchmark Wealth Management LLC acquired a new stake in shares of Apple during the second quarter valued at approximately $208,000. Finally, SMH Capital Advisors Inc. acquired a new position in Apple in the 2nd quarter worth approximately $209,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AAPL has been the subject of several research analyst reports. UBS Group increased their price objective on Apple to $236.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $265.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Moffett Nathanson dropped their target price on Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 19th. Melius Research reiterated a “buy” rating and set a $265.00 price target on shares of Apple in a report on Tuesday, August 27th. Finally, New Street Research restated a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, twelve have given 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $235.25.

Apple Price Performance

Apple stock opened at $235.06 on Wednesday. The firm has a market cap of $3.55 trillion, a P/E ratio of 38.66, a P/E/G ratio of 2.25 and a beta of 1.24. The stock’s 50 day moving average is $228.43 and its 200 day moving average is $219.01. 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.

Apple (NASDAQ:AAPL) last released 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 return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter last year, the firm posted $1.46 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. As a group, research analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s dividend payout ratio is 16.45%.

Insider Activity

In other news, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the transaction, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. The trade was a 10.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 408,170 shares of company stock worth $92,007,745 over the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Apple 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.