Apple Inc. (NASDAQ:AAPL) Stock Holdings Lifted by Kessler Investment Group LLC

Kessler Investment Group LLC increased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,151 shares of the iPhone maker's stock after buying an additional 2,557 shares during the period. Apple accounts for about 5.9% of Kessler Investment Group LLC's investment portfolio, making the stock its biggest position. Kessler Investment Group LLC's holdings in Apple were worth $12,029,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Tallon Kerry Patrick purchased a new stake in Apple during the fourth quarter valued at approximately $1,877,000. First National Bank of Hutchinson raised its position in Apple by 24.6% during the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after purchasing an additional 6,982 shares during the period. Capital & Planning LLC raised its position in Apple by 10.7% during the fourth quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker's stock valued at $6,836,000 after purchasing an additional 2,647 shares during the period. Eagle Capital Management LLC raised its position in Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after purchasing an additional 272 shares during the period. Finally, Brighton Jones LLC raised its position in Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after purchasing an additional 69,207 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Trading Up 1.1%

NASDAQ:AAPL traded up $2.47 during midday trading on Tuesday, hitting $229.65. The stock had a trading volume of 55,616,286 shares, compared to its average volume of 57,993,859. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a market capitalization of $3.41 trillion, a price-to-earnings ratio of 34.85, a PEG ratio of 2.40 and a beta of 1.16. The stock has a 50-day moving average of $207.35 and a 200 day moving average of $213.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

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

Apple Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, August 11th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, August 11th. Apple's dividend payout ratio (DPR) is 15.78%.

Apple announced that its Board of Directors has initiated a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AAPL shares. Needham & Company LLC restated a "hold" rating on shares of Apple in a research report on Friday, July 25th. Citigroup upped their price objective on Apple from $240.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Evercore ISI upped their price objective on Apple to $250.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Raymond James Financial restated an "outperform" rating and set a $240.00 price objective (up from $230.00) on shares of Apple in a research report on Friday, August 1st. Finally, Bank of America upped their price objective on Apple from $240.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $237.60.

About Apple

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.