BWM Planning LLC Makes New $10.94 Million Investment in Apple Inc. (NASDAQ:AAPL)

BWM Planning LLC bought a new stake in Apple Inc. (NASDAQ:AAPL) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 46,934 shares of the iPhone maker’s stock, valued at approximately $10,936,000. Apple accounts for 4.9% of BWM Planning LLC’s investment portfolio, making the stock its 5th biggest position.

Other large investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its position in Apple by 127.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock valued at $12,943,000 after acquiring an additional 42,282 shares in the last quarter. Keener Financial Planning LLC increased its stake in Apple by 9.3% during the 1st quarter. Keener Financial Planning LLC now owns 5,497 shares of the iPhone maker’s stock worth $943,000 after buying an additional 469 shares during the period. PrairieView Partners LLC lifted its holdings in Apple by 1.0% during the 1st quarter. PrairieView Partners LLC now owns 24,932 shares of the iPhone maker’s stock worth $4,276,000 after buying an additional 245 shares in the last quarter. Howland Capital Management LLC boosted its position in Apple by 2.0% in the 1st quarter. Howland Capital Management LLC now owns 367,082 shares of the iPhone maker’s stock valued at $62,947,000 after buying an additional 7,091 shares during the period. Finally, Financial Connections Group Inc. grew its stake in shares of Apple by 11.9% in the first quarter. Financial Connections Group Inc. now owns 25,764 shares of the iPhone maker’s stock worth $4,418,000 after acquiring an additional 2,732 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AAPL. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $265.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Piper Sandler reiterated a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Jefferies Financial Group downgraded shares of Apple from a “buy” rating to a “hold” rating and increased their price objective for the company from $205.00 to $212.92 in a research report on Monday, October 7th. Barclays lowered their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, November 1st. Finally, Wedbush restated an “outperform” rating and issued a $300.00 price target on shares of Apple in a research note on Friday. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $235.68.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the transaction, the senior vice president now directly owns 187,043 shares in the company, valued at approximately $42,309,126.60. This trade represents a 24.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock worth $92,007,745 in the last ninety days. 0.06% of the stock is owned by insiders.

Apple Price Performance

AAPL stock opened at $237.33 on Friday. The firm has a market cap of $3.59 trillion, a P/E ratio of 39.03, a price-to-earnings-growth ratio of 2.30 and a beta of 1.24. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.81. The stock has a 50-day simple moving average of $229.02 and a 200-day simple moving average of $219.59.

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

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.42%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Apple Company Profile

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.