Apple Inc. (NASDAQ:AAPL) Stock Position Increased by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 279,632 shares of the iPhone maker's stock after buying an additional 2,850 shares during the quarter. Apple accounts for about 5.2% of KMG Fiduciary Partners LLC's portfolio, making the stock its largest holding. KMG Fiduciary Partners LLC's holdings in Apple were worth $62,115,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Drystone LLC purchased a new position in Apple during the 4th quarter worth approximately $25,000. Conquis Financial LLC purchased a new position in Apple during the 4th quarter worth approximately $63,000. LSV Asset Management purchased a new position in Apple during the 4th quarter worth approximately $65,000. Pillar Financial Advisors LLC purchased a new position in Apple during the 4th quarter worth approximately $82,000. Finally, Compass Planning Associates Inc purchased a new position in Apple during the 4th quarter worth approximately $96,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Up 0.0%

Shares of NASDAQ AAPL traded up $0.02 during trading on Wednesday, hitting $210.03. 4,254,040 shares of the company were exchanged, compared to its average volume of 57,502,129. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The company has a fifty day moving average price of $203.32 and a 200-day moving average price of $218.08. The firm has a market capitalization of $3.14 trillion, a PE ratio of 32.71, a P/E/G ratio of 2.34 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.03. The firm 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 revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.53 EPS. As a group, equities research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a $0.26 dividend. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.50%. The ex-dividend date was Monday, May 12th. Apple's payout ratio is 16.20%.

Apple announced that its Board of Directors has initiated a share buyback program on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of recent research reports. Tigress Financial raised their price target on shares of Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a research report on Thursday, April 3rd. Evercore ISI lifted their target price on shares of Apple to $250.00 and gave the company a "buy" rating in a report on Friday, June 6th. Bank of America reaffirmed a "buy" rating and set a $235.00 target price on shares of Apple in a report on Tuesday, June 10th. Barclays set a $173.00 target price on shares of Apple and gave the company an "underweight" rating in a report on Tuesday, June 24th. Finally, UBS Group set a $210.00 target price on shares of Apple and gave the company a "neutral" rating in a report on Thursday, July 3rd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Apple has a consensus rating of "Moderate Buy" and a consensus price target of $234.95.

Insider Activity

In related news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the sale, the insider directly owned 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the sale, the chief financial officer owned 4,569 shares in the company, valued at approximately $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Apple 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.