Reston Wealth Management LLC Has $1.04 Million Stake in Apple Inc. (NASDAQ:AAPL)

Reston Wealth Management LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.5% in the third quarter, HoldingsChannel.com reports. The fund owned 4,457 shares of the iPhone maker’s stock after acquiring an additional 109 shares during the quarter. Apple accounts for 0.4% of Reston Wealth Management LLC’s holdings, making the stock its 20th biggest position. Reston Wealth Management LLC’s holdings in Apple were worth $1,039,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. 1620 Investment Advisors Inc. increased its position in shares of Apple by 0.5% during the third quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock valued at $2,249,000 after acquiring an additional 45 shares in the last quarter. Carolina Wealth Advisors LLC increased its holdings in shares of Apple by 1.3% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock worth $813,000 after purchasing an additional 46 shares in the last quarter. Verus Financial Partners Inc. increased its holdings in shares of Apple by 0.3% in the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after purchasing an additional 48 shares in the last quarter. Brown Financial Advisory raised its stake in shares of Apple by 3.8% in the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after purchasing an additional 50 shares during the last quarter. Finally, Core Wealth Management Inc. lifted its holdings in shares of Apple by 1.7% during the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after purchasing an additional 50 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Stock Performance

Apple stock opened at $243.85 on Friday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The company has a market capitalization of $3.69 trillion, a PE ratio of 40.11, a P/E/G ratio of 2.41 and a beta of 1.23. The company has a 50 day moving average price of $238.41 and a 200-day moving average price of $228.58. 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 (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (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 the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.46 EPS. As a group, equities analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is 16.45%.

Insiders Place Their Bets

In related news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered Apple from a “buy” rating to a “hold” rating and boosted their target price for the stock from $205.00 to $212.92 in a research report on Monday, October 7th. Needham & Company LLC restated a “buy” rating and set a $260.00 price objective on shares of Apple in a research report on Tuesday, December 10th. Oppenheimer restated a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. Wells Fargo & Company boosted their target price on shares of Apple to $275.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, New Street Research reissued a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $237.47.

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.