Apple Inc. (NASDAQ:AAPL) is Kowal Investment Group LLC’s 8th Largest Position

Kowal Investment Group LLC increased its holdings in Apple Inc. (NASDAQ:AAPL) by 1.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,464 shares of the iPhone maker’s stock after purchasing an additional 648 shares during the quarter. Apple accounts for 2.0% of Kowal Investment Group LLC’s investment portfolio, making the stock its 8th biggest position. Kowal Investment Group LLC’s holdings in Apple were worth $9,997,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in AAPL. Chico Wealth RIA grew its position in shares of Apple by 15.5% in the 1st quarter. Chico Wealth RIA now owns 6,161 shares of the iPhone maker’s stock worth $1,057,000 after buying an additional 826 shares during the last quarter. MGO Private Wealth LLC boosted its holdings in Apple by 1.2% in the first quarter. MGO Private Wealth LLC now owns 26,744 shares of the iPhone maker’s stock valued at $4,586,000 after acquiring an additional 309 shares in the last quarter. Hubbell Strickland Wealth Management LLC increased its position in Apple by 1.3% during the 1st quarter. Hubbell Strickland Wealth Management LLC now owns 7,586 shares of the iPhone maker’s stock valued at $1,301,000 after purchasing an additional 100 shares during the period. Miracle Mile Advisors LLC lifted its position in shares of Apple by 0.3% in the 1st quarter. Miracle Mile Advisors LLC now owns 517,929 shares of the iPhone maker’s stock worth $88,815,000 after purchasing an additional 1,791 shares during the period. Finally, CCG Wealth Management LLC lifted its position in shares of Apple by 9.2% in the 1st quarter. CCG Wealth Management LLC now owns 11,309 shares of the iPhone maker’s stock worth $1,939,000 after purchasing an additional 949 shares during the period. 60.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on AAPL. Maxim Group raised their price objective on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Piper Sandler reiterated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Robert W. Baird lifted their target price on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. UBS Group reissued a “hold” rating and issued a $236.00 target price on shares of Apple in a research note on Wednesday, October 16th. Finally, Monness Crespi & Hardt restated a “buy” rating and set a $245.00 price objective on shares of Apple in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $235.51.

Insider Buying and Selling

In other news, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 412,746 shares of company stock worth $93,021,362. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $226.96 on Friday. The company has a market cap of $3.43 trillion, a P/E ratio of 37.33, a P/E/G ratio of 2.18 and a beta of 1.24. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The firm’s fifty day moving average is $226.82 and its two-hundred day moving average is $214.03.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. Apple’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. As a group, analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Friday, November 8th. Apple’s payout ratio is 16.45%.

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.