Virginia Wealth Management Group Inc. Has $5.01 Million Position in Apple Inc. (NASDAQ:AAPL)

Virginia Wealth Management Group Inc. lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 33.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,516 shares of the iPhone maker’s stock after acquiring an additional 5,368 shares during the period. Apple makes up about 3.1% of Virginia Wealth Management Group Inc.’s investment portfolio, making the stock its 6th largest holding. Virginia Wealth Management Group Inc.’s holdings in Apple were worth $5,013,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Independence Bank of Kentucky grew its position in Apple by 26.3% in the third quarter. Independence Bank of Kentucky now owns 100,257 shares of the iPhone maker’s stock valued at $23,360,000 after purchasing an additional 20,846 shares in the last quarter. Franklin Street Advisors Inc. NC grew its position in Apple by 0.8% in the third quarter. Franklin Street Advisors Inc. NC now owns 462,967 shares of the iPhone maker’s stock valued at $107,871,000 after purchasing an additional 3,540 shares in the last quarter. Worth Asset Management LLC grew its position in Apple by 24.0% in the third quarter. Worth Asset Management LLC now owns 23,794 shares of the iPhone maker’s stock valued at $5,544,000 after purchasing an additional 4,609 shares in the last quarter. Rappaport Reiches Capital Management LLC grew its position in Apple by 5.2% in the third quarter. Rappaport Reiches Capital Management LLC now owns 105,358 shares of the iPhone maker’s stock valued at $24,548,000 after purchasing an additional 5,241 shares in the last quarter. Finally, CCM Investment Advisers LLC grew its position in Apple by 0.8% in the third quarter. CCM Investment Advisers LLC now owns 131,655 shares of the iPhone maker’s stock valued at $30,676,000 after purchasing an additional 1,045 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of a number of analyst reports. Maxim Group raised their target price on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Apple in a research report on Friday, November 1st. KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a research report on Friday, October 25th. New Street Research reissued a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research report on Wednesday, September 25th. Finally, Wedbush reissued an “outperform” rating and issued a $285.00 price objective on shares of Apple in a research report on Monday, September 9th. Two investment 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $235.25.

Apple Price Performance

Shares of Apple stock opened at $234.93 on Friday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The company has a 50-day simple moving average of $228.83 and a two-hundred day simple moving average of $219.23. The stock has a market capitalization of $3.55 trillion, a price-to-earnings ratio of 38.64, a price-to-earnings-growth ratio of 2.28 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data 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. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the previous year, the company earned $1.46 EPS. The business’s revenue was up 6.1% on a year-over-year basis. Analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

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

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock worth $92,007,745 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

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.