Keystone Wealth Services LLC Buys 4,098 Shares of Apple Inc. $AAPL

Key Points

• Keystone Wealth Services LLC increased its investment in Apple Inc. by 5.9% during the second quarter, acquiring an additional 4,098 shares and making Apple its second-largest holding.
• Analysts have mixed views on Apple, with price targets ranging from $200 to $310, and the stock currently receives an average rating of "Moderate Buy" with a consensus target price of $244.03.
• Apple has announced a quarterly dividend of $0.26, with a yield of 0.4%, and its dividend payout ratio is currently 15.78%.

Keystone Wealth Services LLC raised its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,853 shares of the iPhone maker's stock after acquiring an additional 4,098 shares during the quarter. Apple accounts for about 3.7% of Keystone Wealth Services LLC's investment portfolio, making the stock its 2nd largest holding. Keystone Wealth Services LLC's holdings in Apple were worth $15,153,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AAPL. ROSS JOHNSON & Associates LLC raised its holdings in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after acquiring an additional 180 shares in the last quarter. Life Planning Partners Inc bought a new position in Apple during the 4th quarter worth $47,000. Elite Financial Inc. bought a new position in Apple during the 1st quarter worth $58,000. Conquis Financial LLC bought a new stake in Apple in the 4th quarter valued at about $63,000. Finally, LSV Asset Management bought a new stake in Apple in the 4th quarter valued at about $65,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of recent analyst reports. Tigress Financial lifted their price objective on shares of Apple from $300.00 to $305.00 and gave the company a "strong-buy" rating in a research note on Wednesday, September 17th. Morgan Stanley set a $240.00 target price on Apple and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Phillip Securities lowered shares of Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 target price for the company. in a research note on Thursday, September 11th. Wedbush set a $310.00 target price on Apple and gave the stock an "outperform" rating in a report on Monday. Finally, Sanford C. Bernstein initiated coverage on shares of Apple in a research note on Monday, September 15th. They set an "outperform" rating and a $290.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Apple has an average rating of "Moderate Buy" and a consensus price target of $244.03.

Insider Activity at Apple

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the firm'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 transaction, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Apple Trading Down 0.6%

Shares of AAPL stock opened at $254.43 on Wednesday. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The stock has a market cap of $3.78 trillion, a price-to-earnings ratio of 38.61, a P/E/G ratio of 2.66 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a fifty day moving average of $226.20 and a 200-day moving average of $212.51.

Apple (NASDAQ:AAPL - Get Free Report) last posted its 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 return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter last year, the company earned $1.40 EPS. Apple's revenue was up 9.6% on a year-over-year basis. On average, equities research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

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

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.

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