1,633 Shares in Apple Inc. (NASDAQ:AAPL) Bought by KMT Wealth Management LLC

KMT Wealth Management LLC bought a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,633 shares of the iPhone maker's stock, valued at approximately $409,000. Apple makes up about 0.3% of KMT Wealth Management LLC's investment portfolio, making the stock its 8th largest position.

Several other hedge funds also recently bought and sold shares of the company. Drystone LLC bought a new position in Apple during the fourth quarter worth about $25,000. Life Planning Partners Inc acquired a new stake in shares of Apple during the fourth quarter worth about $47,000. Conquis Financial LLC bought a new position in shares of Apple during the 4th quarter valued at about $63,000. LSV Asset Management acquired a new position in shares of Apple in the 4th quarter valued at approximately $65,000. Finally, Pillar Financial Advisors LLC bought a new stake in Apple during the 4th quarter worth approximately $82,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Apple from $270.00 to $245.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Evercore ISI lifted their price target on Apple to $250.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Bank of America restated a "buy" rating and issued a $235.00 price target on shares of Apple in a report on Tuesday, June 10th. Tigress Financial increased their price objective on Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a report on Thursday, April 3rd. Finally, DA Davidson boosted their target price on Apple from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $234.86.

Insider Transactions at Apple

In other Apple news, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the transaction, the chief financial officer now directly owns 4,569 shares of the company's stock, valued at $941,214. This represents a 50.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the sale, the chief executive officer now directly owns 3,280,295 shares of the company's stock, valued at $733,637,976.75. This represents a 3.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 191,507 shares of company stock worth $42,694,080. Company insiders own 0.06% of the company's stock.

Apple Stock Performance

AAPL stock traded up $4.42 during midday trading on Friday, reaching $201.00. 95,792,149 shares of the company were exchanged, compared to its average volume of 53,610,148. The firm has a market capitalization of $3.00 trillion, a price-to-earnings ratio of 31.31, a price-to-earnings-growth ratio of 2.24 and a beta of 1.22. The business has a 50-day moving average price of $202.35 and a two-hundred day moving average price of $221.56. 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 1.18, a current ratio of 0.82 and a quick ratio of 0.78.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The business had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. Apple's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.53 EPS. Equities research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a $0.26 dividend. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. Apple's dividend payout ratio is presently 16.20%.

Apple announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Apple Company 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.