BXM Wealth LLC Invests $4.95 Million in Apple Inc. (NASDAQ:AAPL)

BXM Wealth LLC purchased a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 19,746 shares of the iPhone maker's stock, valued at approximately $4,945,000. Apple makes up about 6.9% of BXM Wealth LLC's portfolio, making the stock its largest position.

A number of other large investors also recently bought and sold shares of AAPL. Drystone LLC purchased a new position in Apple in the fourth quarter worth $25,000. Bull Oak Capital LLC lifted its position in Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock valued at $36,000 after purchasing an additional 111 shares during the period. SPX Gestao de Recursos Ltda purchased a new stake in shares of Apple during the 3rd quarter worth about $71,000. Teachers Insurance & Annuity Association of America acquired a new stake in Apple in the third quarter valued at approximately $77,000. Finally, ARK Investment Management LLC acquired a new stake in Apple in the third quarter valued at approximately $110,000. Institutional investors own 67.73% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Barclays lifted their price objective on Apple from $183.00 to $197.00 and gave the company an "underweight" rating in a research note on Friday, January 31st. Citigroup dropped their price objective on Apple from $275.00 to $245.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Needham & Company LLC reissued a "buy" rating and set a $225.00 target price on shares of Apple in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. lowered their target price on Apple from $270.00 to $245.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $235.25.

Apple Stock Performance

Apple stock traded up $6.09 during midday trading on Wednesday, reaching $205.83. 13,793,166 shares of the stock traded hands, compared to its average volume of 56,640,486. 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 firm has a fifty day moving average price of $217.94 and a two-hundred day moving average price of $229.69. The firm has a market cap of $3.09 trillion, a price-to-earnings ratio of 32.67, a PEG ratio of 2.44 and a beta of 1.26. Apple Inc. has a fifty-two week low of $164.92 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, equities research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, February 10th. Apple's dividend payout ratio (DPR) is presently 15.87%.

Insider Activity

In other news, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the transaction, the chief executive officer now directly owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This trade represents a 3.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the transaction, the chief operating officer now owns 390,059 shares in the company, valued at approximately $87,377,116.59. This trade represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 182,451 shares of company stock worth $40,818,720. 0.06% of the stock is owned by company insiders.

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.