MBM Wealth Consultants LLC Raises Position in Apple Inc. (NASDAQ:AAPL)

MBM Wealth Consultants LLC raised its holdings in Apple Inc. (NASDAQ:AAPL) by 7.7% in the third quarter, Holdings Channel reports. The firm owned 14,808 shares of the iPhone maker’s stock after purchasing an additional 1,057 shares during the period. Apple accounts for 1.1% of MBM Wealth Consultants LLC’s investment portfolio, making the stock its 14th largest holding. MBM Wealth Consultants LLC’s holdings in Apple were worth $3,450,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Granite Investment Partners LLC boosted its stake in Apple by 2.7% during the second 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 during the period. Truist Financial Corp raised its holdings in Apple by 1.8% during the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after buying an additional 126,210 shares during the last quarter. EP Wealth Advisors LLC raised its position 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 valued at $406,099,000 after purchasing an additional 95,235 shares during the last quarter. Bellwether Advisors LLC lifted its position in shares of 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 during the period. Finally, GAMMA Investing LLC grew its holdings 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 worth $46,650,000 after acquiring an additional 51,842 shares during the period. Institutional investors own 60.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on AAPL shares. Oppenheimer restated a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Tuesday, October 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Apple in a report on Friday, November 1st. UBS Group raised their price target on Apple to $236.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Melius Research reissued a “buy” rating and set a $265.00 price target on shares of Apple in a research note on Tuesday, August 27th. Finally, Loop Capital lowered their target price on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $235.25.

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

AAPL opened at $229.87 on Monday. The firm has a 50 day moving average of $227.73 and a two-hundred day moving average of $218.30. 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 firm has a market capitalization of $3.47 trillion, a PE ratio of 37.81, a P/E/G ratio of 2.24 and a beta of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. On average, analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

About Apple

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.