BKM Wealth Management LLC Grows Position in Apple Inc. (NASDAQ:AAPL)

BKM Wealth Management LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 98.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 45,416 shares of the iPhone maker’s stock after acquiring an additional 22,502 shares during the period. Apple makes up about 4.3% of BKM Wealth Management LLC’s portfolio, making the stock its 3rd largest holding. BKM Wealth Management LLC’s holdings in Apple were worth $10,582,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bull Oak Capital LLC boosted its holdings in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares in the last quarter. Hershey Financial Advisers LLC purchased a new position in shares of Apple in the 2nd quarter valued at approximately $42,000. Christopher J. Hasenberg Inc raised its position in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the last quarter. Cordant Inc. boosted its stake in Apple by 34.3% in the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after purchasing an additional 173 shares in the last quarter. Finally, Sage Financial Group Inc. purchased a new stake in Apple during the 2nd quarter worth approximately $206,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In other Apple 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 transaction of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the sale, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This trade represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 508,170 shares of company stock valued at $117,004,745 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Performance

NASDAQ AAPL opened at $258.20 on Thursday. 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 1-year low of $164.07 and a 1-year high of $258.21. The company has a market cap of $3.90 trillion, a PE ratio of 42.47, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. The stock’s 50 day simple moving average is $235.93 and its 200-day simple moving average is $226.77.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.46 EPS. As a group, equities research analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal 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 issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.39%. Apple’s payout ratio is 16.45%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AAPL shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 price target on shares of Apple in a report on Friday, December 13th. New Street Research reaffirmed a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, September 25th. UBS Group reissued a “neutral” rating and issued a $236.00 price objective on shares of Apple in a report on Monday, December 2nd. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 target price on shares of Apple in a report on Monday, September 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Apple in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $236.78.

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.