Rolek Wealth Management LLC Invests $671,000 in Apple Inc. (NASDAQ:AAPL)

Rolek Wealth Management LLC acquired a new stake in Apple Inc. (NASDAQ:AAPL) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 2,680 shares of the iPhone maker’s stock, valued at approximately $671,000. Apple accounts for 0.5% of Rolek Wealth Management LLC’s portfolio, making the stock its 6th biggest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new stake in shares of Apple in the 2nd quarter valued at approximately $23,335,000. Point72 Europe London LLP acquired a new stake in shares of Apple in the 2nd quarter valued at approximately $14,449,000. Blankinship & Foster LLC lifted its holdings in shares of Apple by 3.1% in the 2nd quarter. Blankinship & Foster LLC now owns 29,036 shares of the iPhone maker’s stock valued at $6,116,000 after buying an additional 883 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Apple by 254.9% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 107,030 shares of the iPhone maker’s stock valued at $22,543,000 after buying an additional 76,870 shares during the period. Finally, ELCO Management Co. LLC lifted its holdings in shares of Apple by 5.8% in the 2nd quarter. ELCO Management Co. LLC now owns 33,331 shares of the iPhone maker’s stock valued at $7,020,000 after buying an additional 1,814 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Trading Down 1.7 %

NASDAQ AAPL opened at $216.98 on Thursday. Apple Inc. has a 52 week low of $164.08 and a 52 week high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock has a market cap of $3.26 trillion, a P/E ratio of 34.44, a PEG ratio of 2.44 and a beta of 1.18. The company’s fifty day simple moving average is $235.80 and its 200-day simple moving average is $234.00.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Equities research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio is currently 15.87%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wedbush reiterated an “outperform” rating and issued a $325.00 price objective on shares of Apple in a research report on Monday, March 3rd. Oppenheimer lowered shares of Apple from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. Monness Crespi & Hardt boosted their price target on Apple to $245.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. raised their price objective on Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, KeyCorp reiterated an “underweight” rating and issued a $200.00 target price on shares of Apple in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $243.22.

Insiders Place Their Bets

In other news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is currently owned by company insiders.

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.