Key Client Fiduciary Advisors LLC Has $8.55 Million Position in Apple Inc. (NASDAQ:AAPL)

Key Client Fiduciary Advisors LLC boosted its position in Apple Inc. (NASDAQ:AAPL) by 6.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 49,858 shares of the iPhone maker’s stock after acquiring an additional 2,886 shares during the period. Apple accounts for about 4.5% of Key Client Fiduciary Advisors LLC’s holdings, making the stock its 3rd biggest position. Key Client Fiduciary Advisors LLC’s holdings in Apple were worth $8,550,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AAPL. Kestra Private Wealth Services LLC increased its holdings in Apple by 6.4% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 949,836 shares of the iPhone maker’s stock worth $162,621,000 after purchasing an additional 57,418 shares in the last quarter. Keystone Financial Services grew its holdings in Apple by 13.2% during the third quarter. Keystone Financial Services now owns 3,913 shares of the iPhone maker’s stock worth $670,000 after buying an additional 455 shares in the last quarter. Valmark Advisers Inc. raised its position in Apple by 0.3% in the 3rd quarter. Valmark Advisers Inc. now owns 169,493 shares of the iPhone maker’s stock valued at $29,019,000 after buying an additional 445 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in Apple by 0.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 1,158,270 shares of the iPhone maker’s stock valued at $198,307,000 after acquiring an additional 7,214 shares in the last quarter. Finally, Cidel Asset Management Inc. boosted its holdings in Apple by 2.8% during the 3rd quarter. Cidel Asset Management Inc. now owns 32,773 shares of the iPhone maker’s stock worth $5,611,000 after acquiring an additional 900 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AAPL shares. Barclays reissued an “underweight” rating and set a $164.00 price target on shares of Apple in a research report on Tuesday, June 11th. Tigress Financial boosted their target price on Apple from $240.00 to $245.00 and gave the stock a “strong-buy” rating in a research note on Thursday, May 30th. Loop Capital reduced their target price on Apple from $185.00 to $170.00 and set a “hold” rating for the company in a report on Monday, April 1st. Itau BBA Securities upgraded Apple from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $162.00 to $188.00 in a report on Friday, May 3rd. Finally, 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. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $215.71.

Insider Activity

In other news, CFO Luca Maestri sold 53,194 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $18,768,046.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Apple news, COO Jeffrey E. Williams sold 59,162 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $172.22, for a total value of $10,188,879.64. Following the transaction, the chief operating officer now owns 489,944 shares in the company, valued at $84,378,155.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Luca Maestri sold 53,194 shares of the stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $18,768,046.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 192,355 shares of company stock valued at $34,771,329. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

NASDAQ:AAPL opened at $221.55 on Thursday. The stock has a market cap of $3.40 trillion, a P/E ratio of 34.46, a PEG ratio of 2.56 and a beta of 1.24. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The business’s 50-day moving average price is $194.21 and its two-hundred day moving average price is $185.60. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $221.55.

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

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were paid a $0.25 dividend. This is a boost from Apple’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Apple’s dividend payout ratio is 15.55%.

Apple announced that its board has authorized a stock repurchase program on Thursday, May 2nd that allows the company to repurchase $110.00 billion in shares. This repurchase authorization allows the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

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.