Apple Inc. $AAPL Position Decreased by KDK Private Wealth Management LLC

Key Points

• KDK Private Wealth Management reduced its Apple stake by 20.4% in the first quarter, selling 2,086 shares and ending with 8,124 shares valued at about $2.06 million.
• Apple continues to attract positive Street sentiment, with analysts citing a potential new upgrade cycle, AI-related support, and strong hardware demand; HSBC recently upgraded the stock and raised its price target.
• The company reported better-than-expected quarterly results with EPS of $2.01 on revenue of $111.18 billion, and it also raised its quarterly dividend to $0.27 per share.

KDK Private Wealth Management LLC decreased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 20.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,124 shares of the iPhone maker's stock after selling 2,086 shares during the quarter. Apple accounts for about 1.9% of KDK Private Wealth Management LLC's holdings, making the stock its 10th biggest holding. KDK Private Wealth Management LLC's holdings in Apple were worth $2,062,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in AAPL. Lifetime Wealth Management P.C. purchased a new stake in shares of Apple during the 4th quarter worth $41,000. ROSS JOHNSON & Associates LLC increased its holdings in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after buying an additional 180 shares during the last quarter. LSV Asset Management purchased a new position in Apple in the fourth quarter valued at $65,000. Timmons Wealth Management LLC purchased a new position in Apple in the fourth quarter valued at $69,000. Finally, Inspire Investing LLC acquired a new stake in Apple in the fourth quarter valued at $76,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple is reportedly launching a new device leasing program with Klarna, a major change to how it sells hardware that could support upgrade demand and recurring device sales. Reuters: Apple to launch 'Upgrade' device leasing program to spur sales, Bloomberg News reports
• Positive Sentiment: HSBC upgraded Apple, saying it is entering a powerful new upgrade cycle supported by AI and a strong hardware roadmap. Barchart: HSBC Says Apple Is Entering a Powerful New Upgrade Cycle
• Positive Sentiment: Several commentators highlighted Apple’s pricing power, strong installed base, and relative insulation from the AI capex arms race as reasons investors are favoring AAPL over some other mega-cap tech names. MarketBeat: Apple Stock Sends Major Warning Signal as Momentum Hits Peak

Insider Buying and Selling

In related news, CFO Kevan Parekh sold 1,534 shares of the company's stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the sale, the chief financial officer owned 13,366 shares in the company, valued at $3,675,650. This represents a 10.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ben Borders sold 1,274 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $290.00, for a total transaction of $369,460.00. Following the sale, the insider owned 38,713 shares of the company's stock, valued at approximately $11,226,770. This represents a 3.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 2,924 shares of company stock worth $825,546. Insiders own 0.06% of the company's stock.

Apple Stock Up 0.4%

AAPL opened at $327.74 on Wednesday. The business's 50-day simple moving average is $304.95 and its 200-day simple moving average is $277.89. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. Apple Inc. has a one year low of $201.50 and a one year high of $334.99. The stock has a market capitalization of $4.81 trillion, a P/E ratio of 39.63, a price-to-earnings-growth ratio of 2.84 and a beta of 1.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.95 by $0.06. The firm had revenue of $111.18 billion during the quarter, compared to analysts' expectations of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business's revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.65 EPS. Analysts anticipate that Apple Inc. will post 8.76 EPS for the current year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were issued a $0.27 dividend. The ex-dividend date of this dividend was Monday, May 11th. This is an increase from Apple's previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. Apple's dividend payout ratio is currently 13.06%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AAPL. Evercore reaffirmed an "outperform" rating on shares of Apple in a report on Wednesday, July 8th. Citigroup reiterated a "buy" rating and issued a $365.00 price objective (up from $315.00) on shares of Apple in a report on Monday, July 13th. Morgan Stanley restated an "overweight" rating on shares of Apple in a research note on Monday. Raymond James Financial set a $380.00 price target on Apple in a report on Monday. Finally, HSBC upgraded shares of Apple from a "hold" rating to a "buy" rating and increased their price target for the company from $260.00 to $366.00 in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $325.71.

Apple Company Profile

Apple Inc NASDAQ: AAPL is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple's principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

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