BKA Wealth Consulting Inc. Grows Position in Apple Inc. (NASDAQ:AAPL)

BKA Wealth Consulting Inc. raised its position in Apple Inc. (NASDAQ:AAPL) by 2.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 10,260 shares of the iPhone maker’s stock after acquiring an additional 293 shares during the period. Apple comprises 2.9% of BKA Wealth Consulting Inc.’s portfolio, making the stock its 9th biggest position. BKA Wealth Consulting Inc.’s holdings in Apple were worth $1,975,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Wyrmwood Management LLC lifted its stake in Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after acquiring an additional 69 shares in the last quarter. Gilfoyle & Co LLC raised its stake in shares of Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares in the last quarter. PayPay Securities Corp raised its stake in shares of Apple by 70.2% during the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after purchasing an additional 210 shares in the last quarter. Friedenthal Financial bought a new stake in shares of Apple during the 4th quarter worth approximately $111,000. Finally, Cordant Inc. raised its stake in shares of Apple by 27.7% during the 3rd quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock worth $110,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 4,999 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the completion of the transaction, the insider now directly owns 29,278 shares in the company, valued at $5,574,531.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Apple news, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the transaction, the senior vice president now directly owns 136,572 shares in the company, valued at $23,068,376.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 4,999 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total value of $951,809.60. Following the completion of the transaction, the insider now owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 371,270 shares of company stock worth $64,605,696. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

NASDAQ:AAPL opened at $189.98 on Friday. The stock’s 50-day simple moving average is $175.89 and its 200 day simple moving average is $183.04. The firm has a market capitalization of $2.91 trillion, a PE ratio of 29.55, a price-to-earnings-growth ratio of 2.28 and a beta of 1.26. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $199.62.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. The business had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. Apple’s revenue was down 4.3% compared to the same quarter last year. During the same period last year, the firm posted $1.52 earnings per share. On average, analysts anticipate that Apple Inc. will post 6.57 EPS for the current fiscal year.

Apple declared that its Board of Directors has initiated a share buyback program on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 10th. This is an increase from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 0.53%. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Citigroup dropped their price objective on Apple from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Loop Capital dropped their price target on Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. The Goldman Sachs Group increased their price target on Apple from $223.00 to $232.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. UBS Group restated a “hold” rating and issued a $190.00 price target on shares of Apple in a research note on Monday, March 25th. Finally, Morgan Stanley increased their price target on Apple from $210.00 to $216.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $205.44.

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.