Arkfeld Wealth Strategies L.L.C. Has $14.11 Million Stock Position in Apple Inc. $AAPL

Arkfeld Wealth Strategies L.L.C. boosted its position in Apple Inc. (NASDAQ:AAPL) by 1.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 67,199 shares of the iPhone maker’s stock after purchasing an additional 858 shares during the period. Apple comprises 5.6% of Arkfeld Wealth Strategies L.L.C.’s investment portfolio, making the stock its 3rd biggest position. Arkfeld Wealth Strategies L.L.C.’s holdings in Apple were worth $14,108,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Ryan Investment Management Inc. bought a new stake in Apple in the 2nd quarter worth about $31,000. Kozak & Associates Inc. grew its position in shares of Apple by 1.8% during the 2nd quarter. Kozak & Associates Inc. now owns 91,825 shares of the iPhone maker’s stock valued at $19,388,000 after acquiring an additional 1,621 shares during the period. Voisard Asset Management Group Inc. increased its stake in shares of Apple by 6.2% during the 2nd quarter. Voisard Asset Management Group Inc. now owns 9,403 shares of the iPhone maker’s stock worth $1,929,000 after purchasing an additional 545 shares during the last quarter. Moody National Bank Trust Division increased its stake in shares of Apple by 0.8% during the 2nd quarter. Moody National Bank Trust Division now owns 155,800 shares of the iPhone maker’s stock worth $31,965,000 after purchasing an additional 1,182 shares during the last quarter. Finally, Rockland Trust Co. increased its stake in shares of Apple by 1.7% during the 2nd quarter. Rockland Trust Co. now owns 258,599 shares of the iPhone maker’s stock worth $53,057,000 after purchasing an additional 4,249 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Deirdre O’brien sold 34,821 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $255.46 on Friday. The stock has a market cap of $3.79 trillion, a PE ratio of 38.76, a PEG ratio of 2.65 and a beta of 1.11. The company’s fifty day moving average is $228.87 and its 200 day moving average is $213.20. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 24.30% and a return on equity of 170.91%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.40 EPS. Research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s payout ratio is presently 15.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Citigroup restated a “buy” rating on shares of Apple in a research note on Wednesday, September 10th. Morgan Stanley set a $240.00 price target on shares of Apple and gave the stock an “overweight” rating in a research note on Wednesday, September 3rd. Bank of America raised their price target on shares of Apple from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. HSBC set a $220.00 price target on shares of Apple and gave the stock a “hold” rating in a research note on Monday, September 8th. 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 research note on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $245.66.

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.