KFG Wealth Management LLC raised its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 18.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,907 shares of the iPhone maker's stock after acquiring an additional 3,309 shares during the period. Apple makes up about 0.8% of KFG Wealth Management LLC's investment portfolio, making the stock its 26th largest position. KFG Wealth Management LLC's holdings in Apple were worth $4,644,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. Drystone LLC purchased a new stake in shares of Apple during the fourth quarter valued at $25,000. Life Planning Partners Inc purchased a new stake in shares of Apple during the fourth quarter valued at $47,000. Conquis Financial LLC purchased a new stake in shares of Apple during the fourth quarter valued at $63,000. LSV Asset Management purchased a new stake in shares of Apple during the fourth quarter valued at $65,000. Finally, Pillar Financial Advisors LLC purchased a new stake in shares of Apple during the fourth quarter valued at $82,000. Institutional investors own 67.73% of the company's stock.
Insider Buying and Selling
In other news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were 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 of the company's stock, valued at $3,233,815.27. This trade represents a 22.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer directly owned 4,569 shares in the company, valued at $941,214. The trade was a 50.01% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on AAPL. UBS Group set a $210.00 target price on shares of Apple and gave the company a "neutral" rating in a research note on Thursday. TD Cowen lowered their price objective on shares of Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Barclays set a $173.00 price objective on shares of Apple and gave the stock an "underweight" rating in a research note on Tuesday, June 24th. Morgan Stanley reaffirmed an "overweight" rating on shares of Apple in a research note on Friday, June 13th. Finally, Evercore ISI upped their price objective on shares of Apple to $250.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and a consensus price target of $234.95.
Check Out Our Latest Research Report on Apple
Apple Price Performance
Shares of NASDAQ:AAPL opened at $213.36 on Friday. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company's 50 day moving average is $203.35 and its 200 day moving average is $218.66. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The company has a market cap 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 (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The business had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business's revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $1.53 EPS. On average, sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current year.
Apple announced that its board has initiated a share repurchase plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board 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 paid a dividend of $0.26 per share. This is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. Apple's dividend payout ratio (DPR) is presently 16.20%.
Apple Company Profile
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Free Report)
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.
Further Reading
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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