Kingstone Capital Partners Texas LLC Has $39.07 Billion Stock Position in Apple Inc. $AAPL

Key Points

• Kingstone Capital Partners Texas LLC increased its stake in Apple Inc. by 573,627.2% in Q2, now owning approximately 205.7 million shares, valued at about $39.07 billion.
• Apple's recent earnings report showed $1.57 earnings per share for the quarter, beating analysts' expectations and reflecting a 9.6% year-over-year revenue increase to $94.04 billion.
• Apple declared a quarterly dividend of $0.26, resulting in an annual dividend yield of 0.4% with a payout ratio of 15.78%.

Kingstone Capital Partners Texas LLC lifted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 573,627.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 205,692,660 shares of the iPhone maker's stock after buying an additional 205,656,808 shares during the period. Apple comprises 5.3% of Kingstone Capital Partners Texas LLC's portfolio, making the stock its 4th biggest holding. Kingstone Capital Partners Texas LLC owned approximately 1.38% of Apple worth $39,065,374,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. IFM Investors Pty Ltd increased its holdings in Apple by 3.7% in the 2nd quarter. IFM Investors Pty Ltd now owns 2,932,508 shares of the iPhone maker's stock valued at $601,663,000 after buying an additional 105,632 shares during the period. Pioneer Wealth Management Group acquired a new stake in shares of Apple during the 2nd quarter valued at about $316,000. Oliver Lagore Vanvalin Investment Group bought a new stake in Apple in the second quarter valued at about $3,501,000. Three Seasons Wealth LLC raised its position in Apple by 3,462.1% in the second quarter. Three Seasons Wealth LLC now owns 492,999 shares of the iPhone maker's stock worth $101,149,000 after purchasing an additional 479,159 shares in the last quarter. Finally, Piscataqua Savings Bank raised its position in Apple by 0.8% in the second quarter. Piscataqua Savings Bank now owns 38,328 shares of the iPhone maker's stock worth $7,864,000 after purchasing an additional 320 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Activity at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares of the company's stock, valued at $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Down 0.5%

Shares of NASDAQ AAPL opened at $255.46 on Monday. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. 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 stock has a market cap of $3.79 trillion, a P/E ratio of 38.76, a P/E/G ratio of 2.65 and a beta of 1.11. The firm has a 50 day moving average price of $228.87 and a 200 day moving average price of $213.22.

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

Apple Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on AAPL shares. DA Davidson reaffirmed a "neutral" rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, September 11th. Loop Capital cut their price objective on Apple from $230.00 to $226.00 and set a "hold" rating for the company in a report on Thursday, August 21st. Tigress Financial upped their target price on shares of Apple from $300.00 to $305.00 and gave the stock a "strong-buy" rating in a report on Wednesday, September 17th. Morgan Stanley set a $240.00 target price on shares of Apple and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Finally, Melius Research set a $290.00 price target on shares of Apple and gave the company a "buy" rating in a research report on Wednesday, September 10th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Apple has an average rating of "Moderate Buy" and an average target price of $245.66.

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.

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