Koa Wealth Management LLC Decreases Position in Apple Inc. $AAPL

Koa Wealth Management LLC decreased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 7.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,819 shares of the iPhone maker's stock after selling 5,176 shares during the period. Apple accounts for 11.1% of Koa Wealth Management LLC's portfolio, making the stock its 2nd largest position. Koa Wealth Management LLC's holdings in Apple were worth $13,732,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Tallon Kerry Patrick acquired a new stake in Apple in the 4th quarter valued at approximately $1,877,000. First National Bank of Hutchinson lifted its position in shares of Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after acquiring an additional 6,982 shares during the period. Eagle Capital Management LLC raised its holdings in shares of Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after buying an additional 272 shares in the last quarter. Brighton Jones LLC increased its holdings in Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after purchasing an additional 69,207 shares in the last quarter. Finally, Revolve Wealth Partners LLC increased its stake in shares of Apple by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock valued at $16,742,000 after buying an additional 2,695 shares during the period. Institutional investors own 67.73% of the company's stock.

Apple Trading Down 0.8%

NASDAQ:AAPL opened at $237.88 on Tuesday. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market capitalization of $3.53 trillion, a price-to-earnings ratio of 36.10, a price-to-earnings-growth ratio of 2.50 and a beta of 1.11. The business has a fifty day moving average price of $219.93 and a 200-day moving average price of $212.35.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same quarter in the prior year, the business posted $1.40 EPS. Apple's revenue for the quarter was up 9.6% compared to the same quarter last year. Sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AAPL shares. Evercore ISI reiterated an "outperform" rating and issued a $250.00 target price on shares of Apple in a report on Wednesday, August 13th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $217.00 price target on shares of Apple in a report on Tuesday, July 29th. Wedbush reissued an "outperform" rating and set a $270.00 price objective on shares of Apple in a research note on Wednesday, September 3rd. Citigroup lifted their price target on Apple from $240.00 to $245.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, Raymond James Financial restated an "outperform" rating and set a $240.00 price target (up previously from $230.00) on shares of Apple in a report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $238.99.

Insider Buying and Selling

In related news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the transaction, the senior vice president 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company's stock.

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.

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