Apple Inc. $AAPL Holdings Increased by Kendall Capital Management

Key Points

• Kendall Capital Management increased its stake in Apple Inc. by 7.4% during the 2nd quarter, bringing its total to 21,728 shares, valued at approximately $4,458,000.
• Apple stock reported a quarterly earnings per share (EPS) of $1.57, exceeding estimates and showing a 9.6% increase in revenue year-over-year.
• CEO Timothy D. Cook sold 129,963 shares of Apple stock for over $33 million, indicating a decrease of 3.81% in his ownership.

Kendall Capital Management increased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 7.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,728 shares of the iPhone maker's stock after acquiring an additional 1,505 shares during the period. Apple makes up approximately 1.2% of Kendall Capital Management's investment portfolio, making the stock its 20th biggest position. Kendall Capital Management's holdings in Apple were worth $4,458,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Advanced Portfolio Management LLC boosted its position in shares of Apple by 0.3% during the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock valued at $3,260,000 after purchasing an additional 47 shares in the last quarter. Salus Financial Advisors LLC boosted its holdings in Apple by 3.9% during the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker's stock worth $291,000 after buying an additional 49 shares in the last quarter. Sharpepoint LLC increased its holdings in shares of Apple by 3.5% in the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker's stock valued at $322,000 after buying an additional 51 shares in the last quarter. Redwood Financial Network Corp increased its holdings in shares of Apple by 0.6% in the fourth quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker's stock valued at $2,184,000 after buying an additional 53 shares in the last quarter. Finally, Mission Hills Financial Advisory LLC lifted its position in shares of Apple by 1.3% during the 1st quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker's stock valued at $892,000 after acquiring an additional 53 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Trading Down 3.5%

Apple stock opened at $245.27 on Friday. Apple Inc. has a 12 month low of $169.21 and a 12 month 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. The stock has a market cap of $3.64 trillion, a P/E ratio of 37.22, a P/E/G ratio of 2.39 and a beta of 1.09. The company's fifty day simple moving average is $237.61 and its 200-day simple moving average is $215.88.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.Apple's quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company earned $1.40 earnings per share. As a group, sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple's payout ratio is presently 15.78%.

Analyst Ratings Changes

AAPL has been the subject of a number of analyst reports. Raymond James Financial reaffirmed an "outperform" rating and set a $240.00 price objective (up from $230.00) on shares of Apple in a research note on Friday, August 1st. Seaport Res Ptn upgraded shares of Apple to a "strong-buy" rating in a research report on Wednesday, October 1st. Phillip Securities lowered shares of Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 price objective for the company. in a research note on Thursday, September 11th. UBS Group reiterated a "neutral" rating on shares of Apple in a research report on Monday, September 8th. Finally, Melius Research set a $290.00 target price on Apple and gave the company a "buy" rating in a report on Wednesday, September 10th. Four analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $248.29.

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 129,963 shares of the business's stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the sale, the chief executive officer directly owned 3,280,295 shares of the company's stock, valued at $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Deirdre O'brien sold 43,013 shares of the firm's stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the transaction, the senior vice president owned 136,687 shares in the company, valued at $35,181,866.93. This represents a 23.94% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 254,922 shares of company stock worth $64,320,190. Insiders own 0.06% of the company's stock.

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.

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