KG&L Capital Management LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,264 shares of the iPhone maker’s stock after acquiring an additional 825 shares during the quarter. Apple accounts for about 7.3% of KG&L Capital Management LLC’s holdings, making the stock its 2nd biggest position. KG&L Capital Management LLC’s holdings in Apple were worth $17,507,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. First Personal Financial Services boosted its stake in shares of Apple by 1.7% during the 1st quarter. First Personal Financial Services now owns 36,739 shares of the iPhone maker’s stock worth $6,415,000 after acquiring an additional 597 shares in the last quarter. Cardinal Point Wealth Management Partners LLC boosted its stake in shares of Apple by 8.1% during the 1st quarter. Cardinal Point Wealth Management Partners LLC now owns 16,387 shares of the iPhone maker’s stock worth $2,861,000 after acquiring an additional 1,225 shares in the last quarter. Nelson Capital Management LLC raised its position in shares of Apple by 0.4% during the 1st quarter. Nelson Capital Management LLC now owns 127,143 shares of the iPhone maker’s stock worth $22,201,000 after purchasing an additional 512 shares during the last quarter. KFA Private Wealth Group LLC raised its position in shares of Apple by 1.5% during the 1st quarter. KFA Private Wealth Group LLC now owns 27,396 shares of the iPhone maker’s stock worth $4,784,000 after purchasing an additional 413 shares during the last quarter. Finally, Clear Creek Financial Management LLC raised its position in shares of Apple by 1.8% during the 1st quarter. Clear Creek Financial Management LLC now owns 76,081 shares of the iPhone maker’s stock worth $13,284,000 after purchasing an additional 1,378 shares during the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.
Wall Street Analyst Weigh In
AAPL has been the subject of several research reports. Sanford C. Bernstein set a $170.00 price objective on Apple in a research report on Monday, May 2nd. set a $175.00 price objective on Apple in a research report on Friday, July 29th. UBS Group set a $185.00 price objective on Apple in a research report on Thursday, July 21st. Citigroup lifted their price objective on Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Finally, Morgan Stanley cut their price target on Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $179.27.
In other news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares in the company, valued at approximately $70,411,823.18. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.06% of the company’s stock.
Apple Stock Performance
NASDAQ:AAPL opened at $172.10 on Monday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. The firm has a 50-day moving average of $148.26 and a two-hundred day moving average of $157.27. The stock has a market cap of $2.77 trillion, a P/E ratio of 28.40, a PEG ratio of 2.23 and a beta of 1.23. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. The company had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 EPS. On average, research analysts expect that Apple Inc. will post 6.1 earnings per share for the current fiscal year.
Apple Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.53%. Apple’s dividend payout ratio (DPR) is presently 15.18%.
Apple announced that its board has authorized a stock repurchase program on Thursday, April 28th that allows the company to buyback $90.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to buy up to 3.5% 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 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; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.
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