4J Wealth Management LLC Has $3.74 Million Stock Position in Apple Inc. $AAPL

4J Wealth Management LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 16,838 shares of the iPhone maker’s stock after acquiring an additional 572 shares during the period. Apple makes up about 2.9% of 4J Wealth Management LLC’s holdings, making the stock its 9th largest holding. 4J Wealth Management LLC’s holdings in Apple were worth $3,740,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Conquis Financial LLC bought a new stake in Apple during the 4th quarter valued at approximately $63,000. LSV Asset Management bought a new stake in Apple during the 4th quarter valued at approximately $65,000. Pillar Financial Advisors LLC bought a new stake in Apple during the 4th quarter valued at approximately $82,000. Compass Planning Associates Inc bought a new stake in Apple during the 4th quarter valued at approximately $96,000. Finally, Sellwood Investment Partners LLC bought a new stake in Apple during the 4th quarter valued at approximately $147,000. Institutional investors own 67.73% of the company’s stock.

Insider Activity

In other news, SVP Deirdre O’brien sold 34,821 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several recent analyst reports. Evercore ISI restated an “outperform” rating and set a $250.00 target price on shares of Apple in a research note on Wednesday, August 13th. Barclays increased their target price on Apple from $173.00 to $180.00 and gave the company an “underweight” rating in a research note on Friday, August 1st. Raymond James Financial restated an “outperform” rating and set a $240.00 target price (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. Rosenblatt Securities reiterated a “neutral” rating and issued a $217.00 price objective on shares of Apple in a research report on Tuesday, July 29th. Finally, Loop Capital reduced their price objective on Apple from $230.00 to $215.00 and set a “hold” rating for the company in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $237.60.

Apple Trading Down 2.0%

Shares of AAPL opened at $226.01 on Thursday. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The stock has a 50 day simple moving average of $211.38 and a 200-day simple moving average of $213.15. The stock has a market cap of $3.35 trillion, a PE ratio of 34.30, a PEG ratio of 2.41 and a beta of 1.16.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. During the same period in the prior year, the firm posted $1.40 EPS. Apple’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its board has authorized a share buyback plan on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. Apple’s dividend payout ratio is presently 15.78%.

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.