Horst & Graben Wealth Management LLC Increases Position in Apple Inc. (NASDAQ:AAPL)

Horst & Graben Wealth Management LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,675 shares of the iPhone maker’s stock after buying an additional 189 shares during the quarter. Apple comprises approximately 1.4% of Horst & Graben Wealth Management LLC’s investment portfolio, making the stock its 17th biggest holding. Horst & Graben Wealth Management LLC’s holdings in Apple were worth $5,069,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Augustine Asset Management Inc. grew its holdings in shares of Apple by 0.9% during the third quarter. Augustine Asset Management Inc. now owns 128,324 shares of the iPhone maker’s stock valued at $17,734,000 after buying an additional 1,084 shares during the last quarter. Mezzasalma Advisors LLC grew its holdings in shares of Apple by 1.1% during the third quarter. Mezzasalma Advisors LLC now owns 79,641 shares of the iPhone maker’s stock valued at $11,006,000 after buying an additional 860 shares during the last quarter. Keeler Thomas Management LLC boosted its holdings in Apple by 13.7% in the third quarter. Keeler Thomas Management LLC now owns 63,241 shares of the iPhone maker’s stock valued at $8,739,000 after purchasing an additional 7,616 shares during the last quarter. Dfpg Investments LLC boosted its holdings in Apple by 9.5% in the third quarter. Dfpg Investments LLC now owns 113,416 shares of the iPhone maker’s stock valued at $16,703,000 after purchasing an additional 9,828 shares during the last quarter. Finally, McKinley Carter Wealth Services Inc. boosted its holdings in Apple by 1.0% in the third quarter. McKinley Carter Wealth Services Inc. now owns 142,636 shares of the iPhone maker’s stock valued at $19,712,000 after purchasing an additional 1,414 shares during the last quarter. 57.60% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

Apple stock opened at $137.87 on Monday. The firm has a 50 day simple moving average of $138.72 and a 200-day simple moving average of $148.18. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $179.61. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85. The stock has a market cap of $2.18 trillion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 1.78 and a beta of 1.24.

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, beating the consensus estimate of $1.26 by $0.03. Apple had a net margin of 25.31% and a return on equity of 160.90%. The business had revenue of $90.15 billion during the quarter, compared to analysts’ expectations of $88.77 billion. During the same quarter in the prior year, the company posted $1.24 EPS. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts expect that Apple Inc. will post 6.19 EPS for the current year.

Apple Announces Dividend

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

Insider Buying and Selling

In related news, insider Chris Kondo sold 20,200 shares of the stock in a transaction that occurred 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 owns 31,505 shares of the company’s stock, valued at approximately $4,685,423.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Luca Maestri sold 176,299 shares of the stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the completion of the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Kondo sold 20,200 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, 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 corporate insiders.

Analyst Ratings Changes

Several research firms have commented on AAPL. Rosenblatt Securities lowered their price target on shares of Apple from $189.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, January 13th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Apple from $175.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, October 28th. Canaccord Genuity Group lowered their price target on shares of Apple from $200.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, January 18th. Credit Suisse Group reaffirmed a “buy” rating and issued a $184.00 price target on shares of Apple in a report on Wednesday, January 18th. Finally, Fundamental Research upped their price objective on shares of Apple to $168.50 and gave the stock a “buy” rating in a research report on Tuesday, November 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $166.73.

Apple 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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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