Apple Inc. $AAPL Shares Bought by Geneos Wealth Management Inc.

Key Points

• Geneos Wealth Management Inc. increased its stake in Apple Inc. by 16.6% during the 1st quarter, owning 187,838 shares valued at approximately $41.7 million.
• Apple reported earnings of $1.57 per share, exceeding analyst expectations and achieving a revenue of $94.04 billion for the quarter, up 9.6% year-over-year.
• The company declared a quarterly dividend of $0.26 per share, representing an annualized yield of 0.4%, with insiders owning 0.06% of the stock.

Geneos Wealth Management Inc. raised its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 16.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 187,838 shares of the iPhone maker's stock after buying an additional 26,772 shares during the quarter. Apple comprises 1.4% of Geneos Wealth Management Inc.'s portfolio, making the stock its 5th biggest position. Geneos Wealth Management Inc.'s holdings in Apple were worth $41,725,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Burkett Financial Services LLC lifted its holdings in shares of Apple by 0.6% during the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock valued at $3,199,000 after purchasing an additional 93 shares in the last quarter. Avid Wealth Partners LLC raised its stake in shares of Apple by 28.3% during the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock worth $935,000 after purchasing an additional 930 shares in the last quarter. OneAscent Wealth Management LLC increased its holdings in shares of Apple by 4.6% during the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock worth $2,337,000 after acquiring an additional 409 shares during the last quarter. Bell & Brown Wealth Advisors LLC increased its holdings in shares of Apple by 0.4% during the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker's stock worth $13,772,000 after acquiring an additional 240 shares during the last quarter. Finally, Andina Capital Management LLC increased its holdings in shares of Apple by 209.2% during the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker's stock worth $1,507,000 after acquiring an additional 4,591 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Analyst Ratings Changes

AAPL has been the topic of a number of research reports. DA Davidson reaffirmed a "neutral" rating and issued a $250.00 price objective on shares of Apple in a report on Thursday. Monness Crespi & Hardt upped their price objective on Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Phillip Securities downgraded Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 price objective for the company. in a research report on Thursday. Evercore ISI increased their target price on Apple from $250.00 to $260.00 and gave the company an "outperform" rating in a research report on Wednesday, September 10th. Finally, Melius Research set a $290.00 price target on Apple and gave the company a "buy" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $240.80.

Apple Trading Up 1.8%

Shares of Apple stock opened at $234.07 on Monday. The stock has a market capitalization of $3.47 trillion, a PE ratio of 35.52, a price-to-earnings-growth ratio of 2.43 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The stock has a 50 day moving average price of $221.50 and a two-hundred day moving average price of $212.02.

Apple (NASDAQ:AAPL - Get Free Report) last announced its 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. The company had revenue of $94.04 billion for the quarter, compared to analysts' expectations of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.Apple's quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.40 earnings per share. As a group, equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio (DPR) is 15.78%.

Insider Buying and Selling

In related news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the sale, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.06% of the company's stock.

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.

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