Salvus Wealth Management LLC Has $6.22 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Salvus Wealth Management LLC raised its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 11.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,693 shares of the iPhone maker's stock after purchasing an additional 2,755 shares during the period. Apple accounts for approximately 3.8% of Salvus Wealth Management LLC's holdings, making the stock its 4th biggest holding. Salvus Wealth Management LLC's holdings in Apple were worth $6,219,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in Apple by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker's stock valued at $11,160,183,000 after buying an additional 2,785,807 shares during the period. Ameriprise Financial Inc. grew its holdings in Apple by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker's stock valued at $10,909,457,000 after purchasing an additional 3,245,281 shares during the period. Capital International Investors increased its stake in Apple by 7.1% in the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker's stock valued at $6,369,852,000 after purchasing an additional 2,474,887 shares in the last quarter. American Century Companies Inc. raised its holdings in Apple by 3.2% in the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker's stock worth $7,291,583,000 after purchasing an additional 1,065,759 shares during the period. Finally, Jennison Associates LLC boosted its position in shares of Apple by 1.7% during the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker's stock worth $5,061,296,000 after purchasing an additional 485,873 shares in the last quarter. Institutional investors own 60.41% of the company's stock.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of recent analyst reports. UBS Group upped their price objective on shares of Apple to $236.00 and gave the company a "hold" rating in a research report on Tuesday, November 12th. Moffett Nathanson lowered their price target on Apple from $211.00 to $202.00 and set a "neutral" rating for the company in a report on Tuesday. Jefferies Financial Group lowered Apple from a "buy" rating to a "hold" rating and raised their price target for the stock from $205.00 to $212.92 in a research report on Monday, October 7th. Bank of America reissued a "buy" rating and set a $256.00 target price on shares of Apple in a research note on Thursday, October 3rd. Finally, StockNews.com lowered shares of Apple from a "buy" rating to a "hold" rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $235.25.

Apple Stock Performance

AAPL traded up $1.35 during trading hours on Friday, reaching $229.87. The company's stock had a trading volume of 38,168,252 shares, compared to its average volume of 43,855,068. The company's 50-day moving average is $227.73 and its 200-day moving average is $218.06. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The firm has a market cap of $3.47 trillion, a PE ratio of 37.81, a price-to-earnings-growth ratio of 2.24 and a beta of 1.24. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company's revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.46 earnings per share. On average, equities analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple's dividend payout ratio is presently 16.45%.

Insider Activity

In other news, COO Jeffrey E. Williams sold 59,730 shares of the firm's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the transaction, the chief operating officer now directly owns 489,944 shares of the company's stock, valued at approximately $111,148,695.84. This trade represents a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares of the company's stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is owned by insiders.

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.