Kinsale Capital Group Inc. Has $14.07 Million Stake in Apple Inc. $AAPL

Key Points

• Kinsale Capital Group increased its Apple stake by 4.9% in the first quarter, owning 55,430 shares valued at approximately $14.07 million. Apple represents about 2.3% of Kinsale’s portfolio and is its 11th-largest holding.
• Apple reported quarterly EPS of $2.02, beating estimates of $1.89, while revenue rose 16.4% year over year to $109.42 billion. The company also declared a quarterly dividend of $0.27 per share.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $331.60, although ratings range from “Strong Buy” to “Sell.”

Kinsale Capital Group Inc. raised its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 55,430 shares of the iPhone maker's stock after purchasing an additional 2,568 shares during the period. Apple accounts for approximately 2.3% of Kinsale Capital Group Inc.'s investment portfolio, making the stock its 11th biggest position. Kinsale Capital Group Inc.'s holdings in Apple were worth $14,068,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lifetime Wealth Management P.C. bought a new stake in Apple in the fourth quarter valued at approximately $41,000. ROSS JOHNSON & Associates LLC increased its position in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after purchasing an additional 180 shares during the period. LSV Asset Management bought a new position in Apple during the 4th quarter worth approximately $65,000. Timmons Wealth Management LLC bought a new position in Apple during the 4th quarter worth approximately $69,000. Finally, Inspire Investing LLC acquired a new position in shares of Apple in the 4th quarter worth approximately $76,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Ben Borders sold 116 shares of the company's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total transaction of $34,236.24. Following the transaction, the insider owned 38,713 shares in the company, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AAPL shares. Tigress Financial reaffirmed a "strong-buy" rating and issued a $375.00 price objective (up from $305.00) on shares of Apple in a research note on Thursday, May 14th. The Goldman Sachs Group reissued a "buy" rating and set a $360.00 target price (down from $370.00) on shares of Apple in a research note on Friday. TD Cowen boosted their target price on shares of Apple from $350.00 to $400.00 and gave the company a "buy" rating in a report on Friday. KGI Securities cut shares of Apple from an "outperform" rating to a "hold" rating and set a $315.00 price target on the stock. in a research report on Monday, June 22nd. Finally, Wedbush reiterated an "outperform" rating and set a $400.00 price target on shares of Apple in a report on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Apple presently has a consensus rating of "Moderate Buy" and a consensus price target of $331.60.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: India proposed extending tax exemptions through 2041 for foreign companies supplying equipment to contract manufacturers. The policy could lower Apple’s manufacturing costs and support its strategy of shifting more iPhone production to India. India proposes extending tax breaks for contract manufacturing in a boost for Apple
• Positive Sentiment: Apple continues to generate substantial free cash flow, with analysts expecting strong cash generation to continue alongside higher revenue forecasts. This supports shareholder returns and provides financial flexibility, although the stock’s valuation limits the upside case. Apple Delivers Strong Free Cash Flow, But What is the Best AAPL Play?
• Positive Sentiment: A reported deal with PlasmaSolve could help Apple develop thinner, stronger device finishes by using software simulations before factory testing, potentially improving manufacturing yields and reducing testing costs. Apple Stock Drops as PlasmaSolve Deal Targets Thinner and Stronger Devices

Apple Stock Performance

Shares of AAPL stock opened at $303.42 on Tuesday. The company has a market cap of $4.46 trillion, a price-to-earnings ratio of 34.80, a price-to-earnings-growth ratio of 2.65 and a beta of 1.09. Apple Inc. has a 52 week low of $201.68 and a 52 week high of $344.57. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average of $309.40 and a 200-day moving average of $281.90.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The company had revenue of $109.42 billion during the quarter, compared to analyst estimates of $109.04 billion. During the same quarter in the previous year, the business posted $1.57 EPS. Apple's revenue for the quarter was up 16.4% compared to the same quarter last year. On average, equities analysts forecast that Apple Inc. will post 8.8 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, August 10th. Apple's dividend payout ratio (DPR) is presently 12.39%.

Apple Company Profile

Apple Inc NASDAQ: AAPL is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple's principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

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