KPP Advisory Services LLC lifted its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 10.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,966 shares of the iPhone maker's stock after purchasing an additional 6,487 shares during the period. Apple accounts for about 2.8% of KPP Advisory Services LLC's investment portfolio, making the stock its 6th biggest holding. KPP Advisory Services LLC's holdings in Apple were worth $15,097,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Oak Hill Wealth Advisors LLC lifted its position in Apple by 0.4% during the 1st quarter. Oak Hill Wealth Advisors LLC now owns 58,269 shares of the iPhone maker's stock worth $12,943,000 after acquiring an additional 258 shares during the last quarter. Flavin Financial Services Inc. lifted its position in Apple by 1.1% during the 1st quarter. Flavin Financial Services Inc. now owns 21,783 shares of the iPhone maker's stock worth $4,839,000 after acquiring an additional 232 shares during the last quarter. Sabal Trust CO lifted its position in Apple by 4.7% during the 1st quarter. Sabal Trust CO now owns 198,351 shares of the iPhone maker's stock worth $44,060,000 after acquiring an additional 8,930 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its position in Apple by 0.5% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 121,211 shares of the iPhone maker's stock worth $26,925,000 after acquiring an additional 593 shares during the last quarter. Finally, Nova R Wealth Inc. lifted its position in Apple by 0.9% during the 1st quarter. Nova R Wealth Inc. now owns 34,106 shares of the iPhone maker's stock worth $7,576,000 after acquiring an additional 319 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.
Insiders Place Their Bets
In related news, insider Chris Kondo sold 4,486 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, the insider directly owned 15,533 shares in the company, valued at $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.06% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
AAPL has been the subject of a number of research analyst reports. The Goldman Sachs Group reissued a "buy" rating on shares of Apple in a research report on Wednesday, May 21st. Needham & Company LLC reissued a "hold" rating on shares of Apple in a research report on Friday, July 25th. UBS Group boosted their target price on shares of Apple from $210.00 to $220.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Morgan Stanley upped their price objective on shares of Apple from $235.00 to $240.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Jefferies Financial Group raised shares of Apple from an "underperform" rating to a "hold" rating in a research report on Friday, July 18th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $237.60.
Check Out Our Latest Analysis on AAPL
Apple Price Performance
Shares of AAPL stock traded up $9.32 during trading hours on Friday, reaching $229.35. 113,661,399 shares of the company were exchanged, compared to its average volume of 56,719,256. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The stock's fifty day moving average is $206.84 and its two-hundred day moving average is $213.21. The company has a market cap of $3.40 trillion, a price-to-earnings ratio of 34.80, a P/E/G ratio of 2.30 and a beta of 1.16. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.
Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same period in the prior year, the business posted $1.40 earnings per share. Apple's revenue was up 9.6% compared to the same quarter last year. Sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.
Apple Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 11th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, August 11th. Apple's dividend payout ratio is currently 15.78%.
About Apple
(
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.
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