KCS Wealth Advisory boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,202 shares of the iPhone maker’s stock after acquiring an additional 1,926 shares during the period. Apple comprises about 11.5% of KCS Wealth Advisory’s portfolio, making the stock its largest position. KCS Wealth Advisory’s holdings in Apple were worth $24,904,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AAPL. Bluestem Financial Advisors LLC lifted its position in shares of Apple by 5,935.2% during the second quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 229,929 shares during the last quarter. Spence Asset Management purchased a new stake in shares of Apple during the second quarter valued at about $49,000. HBC Financial Services PLLC lifted its position in shares of Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after buying an additional 80 shares during the last quarter. Ramsey Quantitative Systems purchased a new position in shares of Apple in the 2nd quarter valued at approximately $55,000. Finally, Morgan Dempsey Capital Management LLC purchased a new position in shares of Apple in the 3rd quarter valued at approximately $55,000. 57.60% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Apple
In other Apple news, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the completion of the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Apple news, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the completion of the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 20,200 shares of Apple stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total value of $3,004,144.00. Following the completion of the transaction, the insider now directly owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The disclosure for this sale can be found here. Insiders sold a total of 204,552 shares of company stock valued at $31,645,123 in the last three months. 0.06% of the stock is owned by corporate insiders.
Analyst Ratings Changes
AAPL has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Apple from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, October 28th. BNP Paribas lowered shares of Apple from an “outperform” rating to a “neutral” rating and set a $140.00 price objective for the company. in a research report on Tuesday, January 3rd. UBS Group set a $180.00 price target on shares of Apple in a report on Thursday. Morgan Stanley cut their price target on shares of Apple from $177.00 to $175.00 and set an “overweight” rating on the stock in a report on Tuesday, November 8th. Finally, Bank Of America (Bofa) downgraded shares of Apple from a “buy” rating to a “neutral” rating and cut their price target for the stock from $189.00 to $160.00 in a report on Friday, September 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $171.22.
Apple Stock Up 1.0 %
NASDAQ AAPL opened at $134.76 on Friday. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $179.61. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.95. The business’s fifty day simple moving average is $139.33 and its 200-day simple moving average is $148.25. The firm has a market cap of $2.14 trillion, a PE ratio of 22.06, a P/E/G ratio of 1.72 and a beta of 1.24.
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.03. The firm had revenue of $90.15 billion for the quarter, compared to analyst estimates of $88.77 billion. Apple had a net margin of 25.31% and a return on equity of 160.90%. Apple’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.24 EPS. As a group, equities analysts anticipate that Apple Inc. will post 6.19 earnings per share for the current year.
Apple Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, November 4th. This represents a $0.92 annualized dividend and a yield of 0.68%. Apple’s dividend payout ratio (DPR) is currently 15.06%.
About Apple
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, 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.
Further Reading
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