Apple Inc. $AAPL is MOKAN Wealth Management Inc.’s 8th Largest Position

MOKAN Wealth Management Inc. lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,210 shares of the iPhone maker’s stock after acquiring an additional 699 shares during the quarter. Apple accounts for approximately 3.2% of MOKAN Wealth Management Inc.’s investment portfolio, making the stock its 8th biggest holding. MOKAN Wealth Management Inc.’s holdings in Apple were worth $5,789,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Hazlett Burt & Watson Inc. raised its holdings in Apple by 7.3% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 58,742 shares of the iPhone maker’s stock worth $12,049,000 after purchasing an additional 4,010 shares during the period. Almanack Investment Partners LLC. increased its position in shares of Apple by 176.3% in the second quarter. Almanack Investment Partners LLC. now owns 59,886 shares of the iPhone maker’s stock valued at $12,287,000 after buying an additional 38,213 shares in the last quarter. Genesee Capital Advisors LLC raised its stake in shares of Apple by 0.3% during the 2nd quarter. Genesee Capital Advisors LLC now owns 41,990 shares of the iPhone maker’s stock worth $8,615,000 after buying an additional 145 shares during the period. M3 Advisory Group LLC raised its stake in shares of Apple by 5.3% during the 2nd quarter. M3 Advisory Group LLC now owns 16,648 shares of the iPhone maker’s stock worth $3,416,000 after buying an additional 844 shares during the period. Finally, Yarger Wealth Strategies LLC lifted its position in shares of Apple by 10.2% during the 2nd quarter. Yarger Wealth Strategies LLC now owns 37,692 shares of the iPhone maker’s stock valued at $7,733,000 after buying an additional 3,476 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Trading Down 0.5%

Shares of AAPL opened at $268.47 on Monday. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $277.32. The firm has a market capitalization of $3.97 trillion, a P/E ratio of 40.74, a P/E/G ratio of 2.62 and a beta of 1.09. The firm has a 50-day moving average price of $252.25 and a 200 day moving average price of $224.85. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. During the same period in the previous year, the firm earned $1.64 earnings per share. Apple’s quarterly revenue was up 8.7% compared to the same quarter last year. Sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Monday, November 10th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, November 10th. Apple’s dividend payout ratio is presently 13.92%.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 43,013 shares of Apple stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the sale, the senior vice president owned 136,687 shares in the company, valued at $35,181,866.93. The trade was a 23.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the transaction, the senior vice president directly owned 179,158 shares in the company, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 224,300 shares of company stock worth $57,586,933 in the last three months. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

AAPL has been the subject of several recent analyst reports. Evercore ISI boosted their price target on shares of Apple from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Wedbush reiterated an “outperform” rating on shares of Apple in a research report on Tuesday, October 21st. Wells Fargo & Company set a $300.00 price objective on Apple and gave the company an “overweight” rating in a report on Friday, October 31st. Robert W. Baird set a $300.00 target price on shares of Apple in a report on Friday, October 31st. Finally, JPMorgan Chase & Co. increased their target price on shares of Apple from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $278.22.

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.