Kingsman Wealth Management Inc. Sells 15,513 Shares of Apple Inc. $AAPL

Key Points

• Kingsman Wealth Management Inc. reduced its holdings in Apple Inc. by 36.6%, selling 15,513 shares during the second quarter, leaving them with 26,902 shares valued at approximately $5.52 million.
• A notable insider, SVP Deirdre O'brien, sold 43,013 shares of Apple stock for over $11 million, resulting in a 23.94% decrease in their ownership.
• Apple's stock is currently trading at $254.04, with a 52-week range between $169.21 and $260.10, reflecting a market cap of $3.77 trillion.

Kingsman Wealth Management Inc. trimmed its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 36.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,902 shares of the iPhone maker's stock after selling 15,513 shares during the quarter. Apple accounts for 3.4% of Kingsman Wealth Management Inc.'s investment portfolio, making the stock its 10th largest holding. Kingsman Wealth Management Inc.'s holdings in Apple were worth $5,519,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of AAPL. Kingstone Capital Partners Texas LLC raised its position in Apple by 573,627.2% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker's stock valued at $39,065,374,000 after buying an additional 205,656,808 shares during the last quarter. Nuveen LLC purchased a new stake in Apple in the 1st quarter valued at $17,472,482,000. GAMMA Investing LLC raised its position in Apple by 25,934.1% in the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker's stock valued at $133,425,490,000 after buying an additional 59,835,676 shares during the last quarter. Northern Trust Corp raised its position in Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after buying an additional 20,079,472 shares during the last quarter. Finally, Amundi raised its position in Apple by 27.4% in the 1st quarter. Amundi now owns 68,190,569 shares of the iPhone maker's stock valued at $13,870,795,000 after buying an additional 14,651,321 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Deirdre O'brien sold 43,013 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the sale, the senior vice president directly owned 136,687 shares in the company, valued at $35,181,866.93. The trade was a 23.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the sale, the senior vice president owned 179,158 shares in the company, valued at $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,922 shares of company stock valued at $64,320,190 in the last ninety days. Company insiders own 0.06% of the company's stock.

Apple Stock Down 1.6%

Shares of NASDAQ AAPL opened at $254.04 on Friday. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The business has a 50-day simple moving average of $236.75 and a two-hundred day simple moving average of $215.77. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The company has a market cap of $3.77 trillion, a P/E ratio of 38.55, a P/E/G ratio of 2.51 and a beta of 1.09.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same quarter in the previous year, the firm earned $1.40 earnings per share. Apple's revenue was up 9.6% on a year-over-year basis. Research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AAPL shares. Monness Crespi & Hardt upped their price objective on Apple from $245.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, August 1st. UBS Group restated a "neutral" rating on shares of Apple in a research note on Monday, September 8th. Tigress Financial upped their price objective on Apple from $300.00 to $305.00 and gave the company a "strong-buy" rating in a research note on Wednesday, September 17th. JPMorgan Chase & Co. upped their price objective on Apple from $255.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday, September 19th. Finally, Raymond James Financial restated an "outperform" rating and issued a $240.00 price objective (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $248.29.

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.

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.