Rolek Wealth Management LLC Raises Position in Apple Inc. $AAPL

Rolek Wealth Management LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,898 shares of the iPhone maker’s stock after purchasing an additional 80 shares during the period. Apple accounts for 0.5% of Rolek Wealth Management LLC’s investment portfolio, making the stock its 11th biggest holding. Rolek Wealth Management LLC’s holdings in Apple were worth $595,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Burkett Financial Services LLC boosted its holdings in Apple by 0.6% in the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock worth $3,199,000 after buying an additional 93 shares during the period. Avid Wealth Partners LLC boosted its holdings in Apple by 28.3% in the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock worth $935,000 after buying an additional 930 shares during the period. Bell & Brown Wealth Advisors LLC boosted its holdings in Apple by 0.4% in the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock worth $13,772,000 after buying an additional 240 shares during the period. American National Bank & Trust boosted its holdings in Apple by 2.4% in the 2nd quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock worth $40,107,000 after buying an additional 4,543 shares during the period. Finally, Andina Capital Management LLC boosted its holdings in Apple by 209.2% in the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after buying an additional 4,591 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on AAPL. Rosenblatt Securities raised their price objective on shares of Apple from $223.00 to $241.00 and gave the stock a “neutral” rating in a report on Wednesday, September 10th. Wedbush set a $310.00 price objective on shares of Apple and gave the stock an “outperform” rating in a report on Monday, September 22nd. HSBC set a $220.00 price target on shares of Apple and gave the company a “hold” rating in a report on Monday, September 8th. Morgan Stanley set a $298.00 price target on shares of Apple and gave the company an “overweight” rating in a report on Thursday, October 2nd. Finally, UBS Group reissued a “neutral” rating on shares of Apple in a report on Monday, September 8th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $248.29.

Insider Activity at Apple

In other news, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the sale, the senior vice president directly owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevan Parekh sold 4,199 shares of Apple stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the completion of the transaction, the chief financial officer owned 8,765 shares in the company, valued at approximately $2,168,373.35. The trade was a 32.39% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 259,121 shares of company stock valued at $65,358,981. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

NASDAQ AAPL opened at $252.29 on Monday. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The company has a market capitalization of $3.74 trillion, a P/E ratio of 38.28, a P/E/G ratio of 2.46 and a beta of 1.09. The company has a fifty day moving average of $241.13 and a 200-day moving average of $216.91.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same period in the previous year, the firm posted $1.40 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. As a group, equities research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s payout ratio is currently 15.78%.

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.