BCGM Wealth Management LLC Sells 766 Shares of Apple Inc. (NASDAQ:AAPL)

BCGM Wealth Management LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,841 shares of the iPhone maker’s stock after selling 766 shares during the period. Apple accounts for 1.4% of BCGM Wealth Management LLC’s holdings, making the stock its 16th biggest position. BCGM Wealth Management LLC’s holdings in Apple were worth $4,390,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAPL. Sage Advisors LLC increased its stake in shares of Apple by 4.0% during the third quarter. Sage Advisors LLC now owns 46,181 shares of the iPhone maker’s stock worth $10,760,000 after purchasing an additional 1,778 shares during the period. Schear Investment Advisers LLC lifted its holdings in shares of Apple by 8.2% during the third quarter. Schear Investment Advisers LLC now owns 31,310 shares of the iPhone maker’s stock worth $7,295,000 after buying an additional 2,361 shares in the last quarter. Spinnaker Investment Group LLC raised its stake in Apple by 2.1% in the 3rd quarter. Spinnaker Investment Group LLC now owns 47,561 shares of the iPhone maker’s stock worth $11,082,000 after purchasing an additional 957 shares in the last quarter. WESPAC Advisors SoCal LLC increased its holdings in shares of Apple by 1.6% during the third quarter. WESPAC Advisors SoCal LLC now owns 77,719 shares of the iPhone maker’s stock worth $18,109,000 after purchasing an additional 1,190 shares during the period. Finally, Seizert Capital Partners LLC grew its position in Apple by 1.4% during the third quarter. Seizert Capital Partners LLC now owns 186,468 shares of the iPhone maker’s stock worth $43,447,000 after buying an additional 2,608 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on AAPL. Rosenblatt Securities raised their price target on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Jefferies Financial Group downgraded Apple from a “hold” rating to an “underperform” rating and dropped their price objective for the stock from $211.84 to $200.75 in a research report on Tuesday. UBS Group reissued a “neutral” rating and set a $236.00 target price on shares of Apple in a research note on Monday, December 2nd. Sanford C. Bernstein raised their target price on shares of Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Wedbush reiterated an “outperform” rating and issued a $325.00 price target on shares of Apple in a research note on Thursday. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $238.05.

Insider Activity

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction on Monday, December 16th. The stock was 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 directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % 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 Performance

Shares of Apple stock opened at $222.78 on Friday. The business’s fifty day simple moving average is $240.97 and its 200 day simple moving average is $230.72. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10. The firm has a market capitalization of $3.35 trillion, a P/E ratio of 36.64, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion for 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 business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.46 EPS. As a group, analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders 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 0.45%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is 16.45%.

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.