Kinsale Capital Group Inc. Has $9.99 Million Position in Apple Inc. (NASDAQ:AAPL)

Kinsale Capital Group Inc. boosted its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 11.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,901 shares of the iPhone maker's stock after buying an additional 4,127 shares during the quarter. Apple accounts for approximately 2.7% of Kinsale Capital Group Inc.'s investment portfolio, making the stock its 5th largest position. Kinsale Capital Group Inc.'s holdings in Apple were worth $9,992,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of AAPL. State Street Corp boosted its position in shares of Apple by 10.6% in the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock valued at $136,074,372,000 after purchasing an additional 55,935,105 shares during the period. FMR LLC boosted its position in shares of Apple by 5.3% in the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock valued at $84,779,231,000 after purchasing an additional 18,224,005 shares during the period. Geode Capital Management LLC boosted its position in shares of Apple by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock valued at $77,542,863,000 after purchasing an additional 20,483,787 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Apple by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker's stock valued at $22,121,656,000 after purchasing an additional 5,893,741 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Apple by 1.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,568,390 shares of the iPhone maker's stock valued at $21,335,435,000 after purchasing an additional 1,742,087 shares during the period. Institutional investors own 67.73% of the company's stock.

Analyst Ratings Changes

AAPL has been the subject of a number of recent analyst reports. Loop Capital decreased their price target on Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Monness Crespi & Hardt decreased their price objective on Apple from $260.00 to $245.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Needham & Company LLC restated a "buy" rating and set a $225.00 price objective on shares of Apple in a research report on Friday, May 2nd. TD Cowen decreased their price objective on Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Morgan Stanley raised their price objective on Apple from $220.00 to $235.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $235.80.

Insider Transactions at Apple

In other Apple news, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the transaction, the chief financial officer now owns 4,569 shares of the company's stock, valued at approximately $941,214. The trade was a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the transaction, the chief operating officer now directly owns 390,059 shares in the company, valued at approximately $87,377,116.59. This represents a 8.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 187,021 shares of company stock valued at $41,760,140. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

NASDAQ AAPL traded up $12.26 during trading on Monday, hitting $210.79. The company's stock had a trading volume of 63,644,481 shares, compared to its average volume of 56,124,497. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The firm has a 50 day moving average price of $208.09 and a 200 day moving average price of $227.33. The firm has a market cap of $3.15 trillion, a P/E ratio of 33.46, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.62 by $0.03. The company had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. The company's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.53 EPS. Equities research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 12th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is presently 16.20%.

Apple announced that its board has authorized a share repurchase program on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

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.