Kaydan Wealth Management Inc. Sells 254 Shares of Apple Inc. (NASDAQ:AAPL)

Kaydan Wealth Management Inc. lessened its stake in Apple Inc. (NASDAQ:AAPL) by 2.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,739 shares of the iPhone maker’s stock after selling 254 shares during the quarter. Apple makes up about 0.6% of Kaydan Wealth Management Inc.’s holdings, making the stock its 24th largest position. Kaydan Wealth Management Inc.’s holdings in Apple were worth $1,842,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Capital Planning LLC boosted its holdings in Apple by 9.0% during the first quarter. Capital Planning LLC now owns 23,866 shares of the iPhone maker’s stock worth $4,092,000 after purchasing an additional 1,966 shares during the last quarter. Whitaker Myers Wealth Managers LTD. lifted its position in shares of Apple by 20.5% during the 1st quarter. Whitaker Myers Wealth Managers LTD. now owns 14,097 shares of the iPhone maker’s stock worth $2,417,000 after buying an additional 2,399 shares in the last quarter. Doliver Advisors LP boosted its stake in shares of Apple by 5.0% in the 1st quarter. Doliver Advisors LP now owns 25,688 shares of the iPhone maker’s stock worth $4,405,000 after buying an additional 1,222 shares during the last quarter. Perkins Coie Trust Co grew its holdings in shares of Apple by 0.7% in the first quarter. Perkins Coie Trust Co now owns 100,853 shares of the iPhone maker’s stock valued at $17,294,000 after acquiring an additional 741 shares in the last quarter. Finally, Pacifica Partners Inc. increased its position in shares of Apple by 8.4% during the first quarter. Pacifica Partners Inc. now owns 62,999 shares of the iPhone maker’s stock valued at $10,755,000 after acquiring an additional 4,894 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $210.62 on Friday. The company has a market capitalization of $3.23 trillion, a P/E ratio of 32.76, a P/E/G ratio of 2.60 and a beta of 1.25. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $220.20. The company has a fifty day moving average of $192.13 and a 200-day moving average of $185.40.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The firm had revenue of $90.75 billion during the quarter, compared to analysts’ expectations of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.52 EPS. As a group, equities research analysts predict that Apple Inc. will post 6.59 EPS for the current fiscal year.

Apple declared that its Board of Directors has initiated a stock repurchase program on Thursday, May 2nd that permits the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were given a dividend of $0.25 per share. This is a boost from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Friday, May 10th. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Insiders Place Their Bets

In other news, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the sale, the director now owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the sale, the director now directly owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 54,732 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the transaction, the senior vice president now directly owns 136,572 shares in the company, valued at $23,068,376.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 346,270 shares of company stock valued at $60,880,196. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AAPL shares. Morgan Stanley restated an “overweight” rating and issued a $216.00 price objective on shares of Apple in a research note on Tuesday, June 11th. Melius Research raised their price objective on shares of Apple from $227.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Monness Crespi & Hardt reiterated a “buy” rating and issued a $205.00 target price on shares of Apple in a research note on Thursday, June 6th. Citigroup decreased their price target on shares of Apple from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Finally, Bank of America reiterated a “buy” rating and issued a $230.00 price objective on shares of Apple in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $215.71.

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.