Apple Inc. (NASDAQ:AAPL) is Salvus Wealth Management LLC’s 8th Largest Position

Salvus Wealth Management LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,173 shares of the iPhone maker’s stock after selling 74 shares during the period. Apple comprises approximately 2.6% of Salvus Wealth Management LLC’s portfolio, making the stock its 8th biggest holding. Salvus Wealth Management LLC’s holdings in Apple were worth $2,895,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Cardinal Capital Management Inc. increased its position in Apple by 5,525.0% during the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after buying an additional 221 shares during the last quarter. Shore Point Advisors LLC acquired a new position in Apple during the fourth quarter worth $41,000. CFS Investment Advisory Services LLC increased its position in Apple by 18,263.5% during the first quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock worth $47,000 after buying an additional 7,416,445 shares during the last quarter. Spence Asset Management acquired a new position in Apple during the second quarter worth $49,000. Finally, HBC Financial Services PLLC increased its position in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares during the last quarter. 57.72% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Up 1.6 %

Shares of AAPL opened at $156.90 on Wednesday. The stock has a market cap of $2.52 trillion, a price-to-earnings ratio of 25.89, a P/E/G ratio of 1.95 and a beta of 1.23. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The company has a 50-day moving average price of $159.84 and a two-hundred day moving average price of $155.88.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. During the same quarter last year, the company earned $1.30 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post 6.11 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio (DPR) is currently 15.18%.

Insider Activity

In other news, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the transaction, the chief financial officer now owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the transaction, the senior vice president now owns 427,334 shares in the company, valued at approximately $70,411,823.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the completion of the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on AAPL. UBS Group set a $185.00 target price on shares of Apple in a research report on Wednesday, September 14th. Citigroup raised their price target on Apple from $175.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Itau BBA Securities initiated coverage on Apple in a research report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price target on the stock. Sanford C. Bernstein set a $170.00 price target on Apple in a research report on Monday, September 12th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $190.00 price target on shares of Apple in a research report on Wednesday, June 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $181.68.

About Apple

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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