MOKAN Wealth Management Inc. Invests $6.40 Million in Apple Inc. (NASDAQ:AAPL)

MOKAN Wealth Management Inc. bought a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 25,563 shares of the iPhone maker's stock, valued at approximately $6,404,000. Apple accounts for approximately 4.1% of MOKAN Wealth Management Inc.'s investment portfolio, making the stock its 6th largest holding.

A number of other large investors also recently added to or reduced their stakes in AAPL. Blue Zone Wealth Advisors LLC grew its stake in shares of Apple by 2.8% during the fourth quarter. Blue Zone Wealth Advisors LLC now owns 53,300 shares of the iPhone maker's stock worth $13,347,000 after purchasing an additional 1,437 shares during the period. Copperleaf Capital LLC boosted its holdings in Apple by 7.2% during the fourth quarter. Copperleaf Capital LLC now owns 8,509 shares of the iPhone maker's stock worth $2,131,000 after buying an additional 573 shares during the last quarter. Palouse Capital Management Inc. grew its position in shares of Apple by 3.0% during the 4th quarter. Palouse Capital Management Inc. now owns 12,167 shares of the iPhone maker's stock worth $3,047,000 after buying an additional 359 shares during the period. MN Wealth Advisors LLC increased its stake in shares of Apple by 4.5% in the 4th quarter. MN Wealth Advisors LLC now owns 15,203 shares of the iPhone maker's stock valued at $3,807,000 after acquiring an additional 658 shares during the last quarter. Finally, Secured Retirement Advisors LLC raised its position in shares of Apple by 5.5% in the 4th quarter. Secured Retirement Advisors LLC now owns 9,097 shares of the iPhone maker's stock valued at $2,278,000 after acquiring an additional 474 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

Shares of AAPL traded down $1.17 during mid-day trading on Friday, reaching $207.20. The company had a trading volume of 12,567,004 shares, compared to its average volume of 56,642,469. The company has a market capitalization of $3.11 trillion, a price-to-earnings ratio of 32.86, a P/E/G ratio of 2.44 and a beta of 1.26. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The company's 50 day simple moving average is $216.41 and its 200 day simple moving average is $229.42. Apple Inc. has a 1-year low of $168.15 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping analysts' consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.48%. Apple's dividend payout ratio is presently 15.87%.

Insiders Place Their Bets

In related news, SVP Katherine L. Adams sold 38,822 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the transaction, the senior vice president now directly owns 179,158 shares of the company's stock, valued at $40,072,269.86. This trade represents a 17.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the sale, the chief operating officer now owns 390,059 shares in the company, valued at $87,377,116.59. This trade represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 182,451 shares of company stock valued at $40,818,720 in the last ninety days. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Maxim Group increased their target price on shares of Apple to $215.00 and gave the stock a "hold" rating in a report on Friday, February 21st. Citigroup dropped their price objective on Apple from $275.00 to $245.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Jefferies Financial Group raised Apple from an "underperform" rating to a "hold" rating and decreased their target price for the company from $202.33 to $167.88 in a research note on Wednesday, April 9th. Rosenblatt Securities reaffirmed a "buy" rating and set a $263.00 price target on shares of Apple in a research report on Thursday, April 3rd. Finally, UBS Group decreased their price objective on Apple from $236.00 to $210.00 and set a "neutral" rating for the company in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $233.88.

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.