DKM Wealth Management Inc. Acquires Shares of 21,346 Apple Inc. (NASDAQ:AAPL)

DKM Wealth Management Inc. bought a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 21,346 shares of the iPhone maker's stock, valued at approximately $5,345,000. Apple accounts for about 5.1% of DKM Wealth Management Inc.'s investment portfolio, making the stock its 7th largest position.

A number of other large investors have also modified their holdings of AAPL. Vanguard Group Inc. boosted its holdings in Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after buying an additional 49,168,843 shares in the last quarter. Geode Capital Management LLC increased its holdings in Apple by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock valued at $84,999,145,000 after buying an additional 6,307,413 shares in the last quarter. Norges Bank acquired a new stake in shares of Apple during the 4th quarter valued at approximately $46,868,648,000. Charles Schwab Investment Management Inc. lifted its position in shares of Apple by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 98,099,411 shares of the iPhone maker's stock valued at $24,566,054,000 after acquiring an additional 3,156,680 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in shares of Apple by 1.2% during the 4th quarter. Fisher Asset Management LLC now owns 59,290,044 shares of the iPhone maker's stock worth $14,847,413,000 after acquiring an additional 674,991 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Apple news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the sale, the insider now owns 15,533 shares of the company's stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of 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. Insiders sold 191,507 shares of company stock valued at $42,694,080 in the last ninety days. Company insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AAPL. Evercore ISI raised their price objective on Apple to $250.00 and gave the company a "buy" rating in a research note on Friday, June 6th. TD Cowen lowered their target price on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Wedbush restated an "outperform" rating and issued a $270.00 price target on shares of Apple in a research report on Tuesday. Jefferies Financial Group reiterated an "underperform" rating and issued a $170.62 price objective (up from $167.88) on shares of Apple in a research report on Friday, May 2nd. Finally, Monness Crespi & Hardt increased their price objective on shares of Apple to $245.00 and gave the company a "buy" rating in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $234.86.

Apple Trading Up 0.0%

AAPL traded up $0.06 during midday trading on Thursday, hitting $198.84. The company's stock had a trading volume of 14,546,869 shares, compared to its average volume of 55,449,083. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The firm has a 50-day moving average price of $200.92 and a two-hundred day moving average price of $223.60. 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 market cap of $2.97 trillion, a P/E ratio of 31.56, a PEG ratio of 2.44 and a beta of 1.22.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. During the same period in the previous year, the firm earned $1.53 earnings per share. Apple's revenue was up 5.1% compared to the same quarter last year. On average, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple announced that its board has initiated a stock repurchase program on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is 16.20%.

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.