BerganKDV Wealth Management LLC Increases Position in Apple Inc. (NASDAQ:AAPL)

BerganKDV Wealth Management LLC grew its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 144,606 shares of the iPhone maker’s stock after buying an additional 1,139 shares during the period. Apple accounts for approximately 2.4% of BerganKDV Wealth Management LLC’s portfolio, making the stock its 11th largest position. BerganKDV Wealth Management LLC’s holdings in Apple were worth $19,985,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealthspire Advisors LLC raised its holdings in Apple by 42.8% during the second quarter. Wealthspire Advisors LLC now owns 299,829 shares of the iPhone maker’s stock worth $40,993,000 after purchasing an additional 89,865 shares in the last quarter. Emerald Advisors LLC raised its holdings in Apple by 2.4% during the second quarter. Emerald Advisors LLC now owns 19,905 shares of the iPhone maker’s stock worth $2,721,000 after purchasing an additional 465 shares in the last quarter. Eagle Bay Advisors LLC raised its holdings in Apple by 35.7% during the second quarter. Eagle Bay Advisors LLC now owns 25,608 shares of the iPhone maker’s stock worth $3,501,000 after purchasing an additional 6,735 shares in the last quarter. Callan Capital LLC raised its holdings in Apple by 1.6% during the second quarter. Callan Capital LLC now owns 85,226 shares of the iPhone maker’s stock worth $11,652,000 after purchasing an additional 1,322 shares in the last quarter. Finally, Sageworth Trust Co raised its holdings in Apple by 150.3% during the second quarter. Sageworth Trust Co now owns 5,798 shares of the iPhone maker’s stock worth $793,000 after purchasing an additional 3,482 shares in the last quarter. 57.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 20,200 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total value of $3,004,144.00. Following the transaction, the insider now owns 31,505 shares of the company’s stock, valued at approximately $4,685,423.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Luca Maestri sold 176,299 shares of the firm’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $155.95, for a total value of $27,493,829.05. Following the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 20,200 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the completion of the transaction, the insider now directly owns 31,505 shares in the company, valued at approximately $4,685,423.60. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

NASDAQ:AAPL opened at $137.87 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.95. The company has a market cap of $2.18 trillion, a P/E ratio of 22.56, a P/E/G ratio of 1.74 and a beta of 1.24. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $179.61. The firm’s 50 day moving average is $138.72 and its two-hundred day moving average is $148.09.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. The company had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. Apple had a net margin of 25.31% and a return on equity of 160.90%. Apple’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.24 earnings per share. Analysts expect that Apple Inc. will post 6.19 EPS for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s dividend payout ratio is currently 15.06%.

Wall Street Analyst Weigh In

AAPL has been the subject of several analyst reports. Fundamental Research increased their price target on shares of Apple to $168.50 and gave the stock a “buy” rating in a report on Tuesday, November 8th. Robert W. Baird cut their price target on shares of Apple from $185.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, October 28th. Canaccord Genuity Group cut their price target on shares of Apple from $200.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday. Barclays lowered their target price on shares of Apple from $144.00 to $133.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 11th. Finally, Citigroup restated a “buy” rating and set a $175.00 target price on shares of Apple in a research report on Tuesday, November 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $166.73.

Apple Company Profile

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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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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