Beam Wealth Advisors Inc. Has $7.43 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Beam Wealth Advisors Inc. grew its stake in Apple Inc. (NASDAQ:AAPL) by 0.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 31,884 shares of the iPhone maker’s stock after purchasing an additional 272 shares during the period. Apple comprises approximately 2.3% of Beam Wealth Advisors Inc.’s holdings, making the stock its 8th largest position. Beam Wealth Advisors Inc.’s holdings in Apple were worth $7,429,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bull Oak Capital LLC grew its stake in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares in the last quarter. Hershey Financial Advisers LLC acquired a new stake in Apple in the second quarter valued at approximately $42,000. Christopher J. Hasenberg Inc boosted its holdings in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares in the last quarter. ARK Investment Management LLC purchased a new stake in shares of Apple during the third quarter valued at $110,000. Finally, Cordant Inc. increased its holdings in shares of Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after purchasing an additional 173 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Activity

In other Apple news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated 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 transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Stock Up 0.8 %

Apple stock opened at $229.98 on Friday. 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 fifty-two week low of $164.07 and a fifty-two week high of $260.10. The stock has a 50-day simple moving average of $240.95 and a 200-day simple moving average of $230.56. The company has a market capitalization of $3.48 trillion, a P/E ratio of 37.83, a PEG ratio of 2.32 and a beta of 1.20.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $1.46 EPS. Equities research analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The firm 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 0.43%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AAPL. UBS Group reaffirmed a “neutral” rating and set a $236.00 price target on shares of Apple in a research report on Monday, December 2nd. Jefferies Financial Group downgraded 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 note on Monday, October 7th. Citigroup lifted their price objective on Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Bank of America reaffirmed a “buy” rating and set a $256.00 price target on shares of Apple in a research report on Friday, January 3rd. Finally, Piper Sandler reissued a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy 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 $239.85.

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.