MOKAN Wealth Management Inc. Takes $6.40 Million Position in Apple Inc. (NASDAQ:AAPL)

MOKAN Wealth Management Inc. bought a new position in Apple Inc. (NASDAQ:AAPL - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 25,563 shares of the iPhone maker's stock, valued at approximately $6,404,000. Apple makes up approximately 4.1% of MOKAN Wealth Management Inc.'s investment portfolio, making the stock its 6th biggest holding.

Several other large investors have also recently bought and sold shares of AAPL. Blue Zone Wealth Advisors LLC raised its stake in Apple by 2.8% in the fourth quarter. Blue Zone Wealth Advisors LLC now owns 53,300 shares of the iPhone maker's stock valued at $13,347,000 after purchasing an additional 1,437 shares in the last quarter. Copperleaf Capital LLC increased its holdings in shares of Apple by 7.2% in the 4th quarter. Copperleaf Capital LLC now owns 8,509 shares of the iPhone maker's stock worth $2,131,000 after buying an additional 573 shares during the last quarter. Palouse Capital Management Inc. raised its position in shares of Apple by 3.0% during the 4th quarter. Palouse Capital Management Inc. now owns 12,167 shares of the iPhone maker's stock valued at $3,047,000 after buying an additional 359 shares in the last quarter. MN Wealth Advisors LLC lifted its holdings in shares of Apple by 4.5% during the 4th quarter. MN Wealth Advisors LLC now owns 15,203 shares of the iPhone maker's stock worth $3,807,000 after acquiring an additional 658 shares during the last quarter. Finally, Secured Retirement Advisors LLC grew its position in Apple by 5.5% in the fourth quarter. Secured Retirement Advisors LLC now owns 9,097 shares of the iPhone maker's stock worth $2,278,000 after acquiring an additional 474 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Insider Activity at Apple

In related news, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the sale, the chief operating officer now directly owns 390,059 shares of the company's stock, valued at approximately $87,377,116.59. This represents a 8.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the transaction, the senior vice president now directly owns 179,158 shares of the company's stock, valued at $40,072,269.86. This trade represents a 17.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 182,451 shares of company stock valued at $40,818,720 in the last 90 days. Corporate insiders own 0.06% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on AAPL. Bank of America lowered their price target on Apple from $265.00 to $250.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Evercore ISI boosted their target price on Apple from $260.00 to $275.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 18th. TD Cowen reaffirmed a "buy" rating on shares of Apple in a research note on Tuesday, January 28th. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Finally, DA Davidson cut their price objective on shares of Apple from $290.00 to $230.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Two equities research 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $234.17.

Apple Stock Up 2.4 %

Apple stock traded up $4.83 on Wednesday, hitting $204.57. 52,841,089 shares of the stock traded hands, compared to its average volume of 56,789,207. The business's fifty day simple moving average is $217.94 and its 200 day simple moving average is $229.69. The firm has a market cap of $3.07 trillion, a P/E ratio of 32.47, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a 1 year low of $164.92 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly 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%. As a group, sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.49%. Apple's payout ratio is currently 15.87%.

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.