Kestra Private Wealth Services LLC Grows Stock Holdings in Apple Inc. $AAPL

Key Points

• Kestra Private Wealth Services LLC increased its holdings in Apple Inc. by 1.9% in Q1, owning over 1 million shares valued at approximately $225 million, making it the largest position in their investment portfolio.
• Multiple hedge funds, including Impact Partnership Wealth LLC and Balentine LLC, have also raised their stakes in Apple, reflecting a growing institutional interest as these firms collectively hold 67.73% of the company's stock.
• Analyst ratings for Apple are generally optimistic, with a consensus rating of "Moderate Buy" and an average target price of $237.37, highlighting confidence in the company's stock performance moving forward.

Kestra Private Wealth Services LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,014,179 shares of the iPhone maker's stock after acquiring an additional 18,425 shares during the period. Apple comprises approximately 3.8% of Kestra Private Wealth Services LLC's holdings, making the stock its biggest position. Kestra Private Wealth Services LLC's holdings in Apple were worth $225,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Conquis Financial LLC acquired a new position in Apple during the 4th quarter worth $63,000. LSV Asset Management acquired a new position in Apple during the 4th quarter worth $65,000. Elite Financial Inc. acquired a new position in Apple during the 1st quarter worth $58,000. Pillar Financial Advisors LLC acquired a new position in shares of Apple in the 4th quarter valued at about $82,000. Finally, Sellwood Investment Partners LLC acquired a new position in shares of Apple in the 4th quarter valued at about $147,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

AAPL stock traded up $7.30 during trading hours on Wednesday, hitting $237.02. 40,885,420 shares of the stock traded hands, compared to its average volume of 56,657,605. The stock has a 50-day simple moving average of $216.99 and a 200 day simple moving average of $212.75. The company has a market cap of $3.52 trillion, a P/E ratio of 35.97, a P/E/G ratio of 2.42 and a beta of 1.11. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

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

Apple Announces Dividend

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

Insider Activity at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the sale, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. The trade was a 20.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AAPL. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $217.00 price target on shares of Apple in a report on Tuesday, July 29th. Citigroup lifted their price target on shares of Apple from $240.00 to $245.00 and gave the company a "buy" rating in a report on Friday, August 1st. BMO Capital Markets reaffirmed a "buy" rating on shares of Apple in a report on Wednesday, August 13th. Evercore ISI reaffirmed an "outperform" rating and issued a $250.00 price target on shares of Apple in a report on Wednesday, August 13th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $266.00 price target on shares of Apple in a report on Tuesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $237.73.

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.