Apple Inc. $AAPL is Koshinski Asset Management Inc.'s 3rd Largest Position

Key Points

• Koshinski Asset Management Inc. increased its holdings in Apple Inc. by 2.2% during the 1st quarter, now owning 165,133 shares valued at approximately $36.64 million, making it the firm's 3rd largest position.
• Apple's quarterly earnings exceeded expectations, with a reported $1.57 EPS and revenue of $94.04 billion, significantly above analysts' consensus estimates.
• Analysts maintain a generally positive outlook on Apple, with a consensus rating of "Moderate Buy" and target prices ranging from $215.00 to $270.00 per share.

Koshinski Asset Management Inc. raised its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 165,133 shares of the iPhone maker's stock after purchasing an additional 3,556 shares during the period. Apple accounts for approximately 3.1% of Koshinski Asset Management Inc.'s investment portfolio, making the stock its 3rd largest holding. Koshinski Asset Management Inc.'s holdings in Apple were worth $36,635,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Morton Brown Family Wealth LLC grew its stake in Apple by 3.8% in the first quarter. Morton Brown Family Wealth LLC now owns 9,336 shares of the iPhone maker's stock valued at $2,074,000 after purchasing an additional 340 shares during the last quarter. G&S Capital LLC grew its stake in Apple by 6.0% in the first quarter. G&S Capital LLC now owns 18,744 shares of the iPhone maker's stock valued at $4,164,000 after purchasing an additional 1,066 shares during the last quarter. RedJay Asset Management Inc. purchased a new position in Apple in the first quarter valued at about $10,440,000. Red Door Wealth Management LLC grew its stake in Apple by 4.1% in the first quarter. Red Door Wealth Management LLC now owns 142,495 shares of the iPhone maker's stock valued at $31,652,000 after purchasing an additional 5,606 shares during the last quarter. Finally, Rochester Wealth Strategies LLC acquired a new stake in Apple in the first quarter worth about $369,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Price Performance

Shares of Apple stock traded down $0.13 on Tuesday, reaching $230.76. The company's stock had a trading volume of 8,640,402 shares, compared to its average volume of 57,554,328. The company has a market capitalization of $3.42 trillion, a P/E ratio of 35.07, a PEG ratio of 2.42 and a beta of 1.16. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The stock has a 50-day moving average price of $210.28 and a 200-day moving average price of $212.94. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

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

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, August 11th. Apple's payout ratio is presently 15.78%.

Apple announced that its Board of Directors has approved a stock buyback program on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. China Renaissance assumed coverage on Apple in a report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 price target for the company. Evercore ISI reissued an "outperform" rating and issued a $250.00 price target on shares of Apple in a report on Wednesday, August 13th. UBS Group raised their price target on Apple from $210.00 to $220.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. JPMorgan Chase & Co. raised their price target on Apple from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Rosenblatt Securities reissued a "neutral" rating and issued a $217.00 price target on shares of Apple in a report on Tuesday, July 29th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Apple has an average rating of "Moderate Buy" and an average target price of $237.60.

Insider Activity at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.06% of the company's stock.

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.