AAFMAA Wealth Management & Trust LLC Has $3.55 Million Stock Position in Apple Inc. $AAPL

AAFMAA Wealth Management & Trust LLC boosted its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,299 shares of the iPhone maker’s stock after purchasing an additional 159 shares during the period. Apple accounts for approximately 1.5% of AAFMAA Wealth Management & Trust LLC’s portfolio, making the stock its 12th biggest position. AAFMAA Wealth Management & Trust LLC’s holdings in Apple were worth $3,549,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of AAPL. Ryan Investment Management Inc. bought a new position in Apple during the second quarter valued at about $31,000. ROSS JOHNSON & Associates LLC raised its holdings in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 180 shares in the last quarter. Elite Financial Inc. bought a new position in Apple during the first quarter valued at about $58,000. Conquis Financial LLC bought a new position in Apple during the fourth quarter valued at about $63,000. Finally, LSV Asset Management bought a new position in Apple during the fourth quarter valued at about $65,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $254.04 on Friday. The company has a market capitalization of $3.77 trillion, a PE ratio of 38.55, a PEG ratio of 2.51 and a beta of 1.09. Apple Inc. has a 12 month low of $169.21 and a 12 month 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’s fifty day simple moving average is $236.75 and its 200 day simple moving average is $215.77.

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

Apple Announces Dividend

The business also recently disclosed 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 was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is presently 15.78%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Evercore ISI set a $290.00 price objective on Apple and gave the stock an “outperform” rating in a research note on Friday, September 26th. Phillip Securities lowered Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price objective on the stock. in a research note on Thursday, September 11th. Seaport Res Ptn upgraded Apple to a “strong-buy” rating in a research note on Wednesday, October 1st. Raymond James Financial reiterated an “outperform” rating and issued a $240.00 price objective (up from $230.00) on shares of Apple in a research note on Friday, August 1st. Finally, Loop Capital dropped their price objective on Apple from $230.00 to $226.00 and set a “hold” rating on the stock in a research note on Thursday, August 21st. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.29.

Insider Activity

In other news, SVP Deirdre O’brien sold 43,013 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the transaction, the senior vice president owned 136,687 shares in the company, valued at $35,181,866.93. This trade represents a 23.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the transaction, the senior vice president owned 179,158 shares of the company’s stock, valued at $46,005,982.82. The trade was a 20.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,922 shares of company stock worth $64,320,190 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

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.