Weik Capital Management Lowers Stake in Apple Inc. (NASDAQ:AAPL)

Weik Capital Management lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 0.7% during the second quarter, Holdings Channel.com reports. The firm owned 13,762 shares of the iPhone maker’s stock after selling 100 shares during the quarter. Apple comprises about 1.2% of Weik Capital Management’s portfolio, making the stock its 24th largest holding. Weik Capital Management’s holdings in Apple were worth $2,898,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Access Investment Management LLC bought a new stake in Apple during the 1st quarter valued at about $140,000. Hoese & Co LLP grew its holdings in shares of Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 57 shares during the last quarter. Sage Financial Group Inc. bought a new stake in shares of Apple during the second quarter valued at approximately $206,000. Benchmark Wealth Management LLC purchased a new position in Apple in the 2nd quarter worth approximately $208,000. Finally, Sequent Asset Management LLC bought a new position in Apple in the 2nd quarter valued at approximately $214,000. Institutional investors own 60.41% of the company’s stock.

Apple Stock Down 1.3 %

AAPL opened at $222.91 on Friday. The stock has a market cap of $3.39 trillion, a price-to-earnings ratio of 33.93, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The firm’s fifty day moving average is $227.18 and its 200 day moving average is $212.33. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.49 by $0.15. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the previous year, the business earned $1.46 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts forecast that Apple Inc. will post 6.6 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.45%. Apple’s payout ratio is 15.22%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wedbush reissued an “outperform” rating and issued a $285.00 target price on shares of Apple in a report on Monday, September 9th. Tigress Financial lifted their price objective on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. Evercore ISI restated a “buy” rating and set a $250.00 target price on shares of Apple in a research note on Thursday, September 26th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $265.00 price target on shares of Apple in a research note on Tuesday, September 10th. Finally, UBS Group restated a “hold” rating and set a $236.00 price objective on shares of Apple in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.23.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Luca Maestri sold 59,305 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 517,924 shares of company stock valued at $114,786,399 in the last three months. 0.06% of the stock is currently owned by corporate insiders.

Apple 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.