BCO Wealth Management LLC Purchases Shares of 994 Apple Inc. $AAPL

Key Points

• BCO Wealth Management LLC has acquired a new stake in Apple Inc., purchasing 994 shares valued at approximately $204,000 during the second quarter.
• Several institutional investors have adjusted their positions in Apple, with 67.73% of Apple stock now owned by such entities.
• Brokerages have varying outlooks on Apple stock, with target prices ranging from $200.00 to $310.00 as analysts express ratings from "Strong Buy" to "Moderate Sell."

BCO Wealth Management LLC purchased a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 994 shares of the iPhone maker's stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Ryan Investment Management Inc. acquired a new stake in shares of Apple in the second quarter valued at approximately $31,000. ROSS JOHNSON & Associates LLC raised its holdings in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after purchasing an additional 180 shares during the last quarter. Elite Financial Inc. acquired a new stake in shares of Apple in the first quarter valued at approximately $58,000. LSV Asset Management acquired a new position in Apple during the fourth quarter worth $65,000. Finally, HFM Investment Advisors LLC acquired a new position in Apple during the first quarter worth $99,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AAPL. Wedbush set a $310.00 target price on shares of Apple and gave the stock an "outperform" rating in a report on Monday, September 22nd. Phillip Securities downgraded shares of Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 target price on the stock. in a report on Thursday, September 11th. Moffett Nathanson upgraded shares of Apple from a "sell" rating to a "neutral" rating and set a $225.00 target price on the stock in a report on Thursday, September 4th. Citigroup restated a "buy" rating on shares of Apple in a report on Wednesday, September 10th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $266.00 target price on shares of Apple in a report on Tuesday, August 26th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $251.47.

Insider Activity at Apple

In other news, SVP Deirdre O'brien sold 43,013 shares of the business's stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the sale, the senior vice president owned 136,687 shares of the company's stock, valued at approximately $35,181,866.93. The trade was a 23.94% 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. Also, CEO Timothy D. Cook sold 129,963 shares of the business's stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the sale, the chief executive officer directly owned 3,280,295 shares of the company's stock, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 259,121 shares of company stock valued at $65,358,981 in the last ninety days. Company insiders own 0.06% of the company's stock.

Apple Price Performance

NASDAQ:AAPL opened at $262.24 on Tuesday. Apple Inc. has a one year low of $169.21 and a one year high of $264.38. The company has a market cap of $3.89 trillion, a P/E ratio of 39.79, a P/E/G ratio of 2.46 and a beta of 1.09. The firm's fifty day moving average price is $241.83 and its two-hundred day moving average price is $217.42. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. During the same period in the previous year, the company earned $1.40 earnings per share. The company's quarterly revenue was up 9.6% on a year-over-year basis. Equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's payout ratio is currently 15.78%.

About Apple

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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