DMKC Advisory Services LLC Has $346,000 Position in Apple Inc. (NASDAQ:AAPL)

DMKC Advisory Services LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 82.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,556 shares of the iPhone maker's stock after selling 7,342 shares during the period. DMKC Advisory Services LLC's holdings in Apple were worth $346,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AAPL. Life Planning Partners Inc bought a new stake in shares of Apple in the fourth quarter worth $47,000. Conquis Financial LLC bought a new stake in shares of Apple in the fourth quarter worth $63,000. LSV Asset Management bought a new stake in shares of Apple in the fourth quarter worth $65,000. Pillar Financial Advisors LLC bought a new stake in shares of Apple in the fourth quarter worth $82,000. Finally, Compass Planning Associates Inc bought a new stake in shares of Apple in the fourth quarter worth $96,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Activity

In other news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider owned 15,533 shares in the company, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on AAPL. Raymond James Financial reiterated an "outperform" rating and set a $240.00 target price (up previously from $230.00) on shares of Apple in a research note on Friday. The Goldman Sachs Group reiterated a "buy" rating on shares of Apple in a research note on Wednesday, May 21st. Morgan Stanley boosted their price target on shares of Apple from $235.00 to $240.00 and gave the company an "overweight" rating in a report on Friday. Loop Capital reduced their price target on shares of Apple from $230.00 to $215.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Apple in a report on Friday, July 25th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and an average target price of $237.25.

Apple Stock Down 2.2%

NASDAQ AAPL traded down $4.62 during trading on Friday, hitting $202.95. The stock had a trading volume of 46,370,982 shares, compared to its average volume of 56,587,043. The company has a market capitalization of $3.03 trillion, a PE ratio of 31.63, a P/E/G ratio of 2.30 and a beta of 1.20. The company's 50-day moving average price is $205.22 and its two-hundred day moving average price is $213.98. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion for the quarter, compared to analysts' expectations of $88.64 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business's quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.40 EPS. As a group, sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

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

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, August 11th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. Apple's dividend payout ratio is currently 16.20%.

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.