Kapstone Financial Advisors LLC Decreases Holdings in Apple Inc. (NASDAQ:AAPL)

Kapstone Financial Advisors LLC reduced its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 86,974 shares of the iPhone maker's stock after selling 3,156 shares during the period. Apple accounts for approximately 10.9% of Kapstone Financial Advisors LLC's investment portfolio, making the stock its 3rd largest holding. Kapstone Financial Advisors LLC's holdings in Apple were worth $19,320,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AAPL. Drystone LLC bought a new position in shares of Apple in the 4th quarter worth $25,000. Life Planning Partners Inc acquired a new position in Apple in the fourth quarter valued at about $47,000. Conquis Financial LLC bought a new position in Apple during the fourth quarter worth about $63,000. LSV Asset Management bought a new position in Apple during the fourth quarter worth about $65,000. Finally, Pillar Financial Advisors LLC acquired a new position in shares of Apple during the 4th quarter worth about $82,000. Institutional investors own 67.73% of the company's stock.

Insider Activity

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

Apple Stock Performance

Shares of NASDAQ AAPL opened at $213.36 on Friday. 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 stock has a 50 day moving average price of $203.35 and a 200 day moving average price of $218.86. The stock has a market capitalization of $3.19 trillion, a PE ratio of 33.23, a price-to-earnings-growth ratio of 2.38 and a beta of 1.20. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.62 by $0.03. The company had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.53 EPS. Analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple announced that its board has authorized a share repurchase plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is 16.20%.

Analyst Ratings Changes

A number of analysts recently weighed in on AAPL shares. Citigroup reiterated a "buy" rating on shares of Apple in a research report on Tuesday, June 10th. Loop Capital cut their target price on shares of Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Wedbush reissued an "outperform" rating and issued a $270.00 price target on shares of Apple in a report on Tuesday, June 10th. Bank of America restated a "buy" rating and issued a $235.00 price objective on shares of Apple in a research report on Tuesday, June 10th. Finally, Barclays set a $173.00 price objective on Apple and gave the stock an "underweight" rating in a research note on Tuesday, June 24th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $234.95.

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.

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