Koshinski Asset Management Inc. Sells 4,508 Shares of Apple Inc. (NASDAQ:AAPL)

Koshinski Asset Management Inc. lowered its position in Apple Inc. (NASDAQ:AAPL) by 2.7% in the third quarter, Holdings Channel.com reports. The fund owned 163,641 shares of the iPhone maker’s stock after selling 4,508 shares during the period. Apple makes up 3.3% of Koshinski Asset Management Inc.’s investment portfolio, making the stock its 3rd largest holding. Koshinski Asset Management Inc.’s holdings in Apple were worth $38,058,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Hershey Financial Advisers LLC bought a new stake in Apple during the 2nd quarter worth about $42,000. Christopher J. Hasenberg Inc boosted its stake in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after acquiring an additional 144 shares during the last quarter. Hoese & Co LLP grew its holdings in Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after acquiring an additional 57 shares during the period. Sage Financial Group Inc. acquired a new position in shares of Apple in the 2nd quarter valued at $206,000. Finally, Benchmark Wealth Management LLC bought a new position in shares of Apple in the 2nd quarter worth $208,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AAPL has been the topic of several recent analyst reports. Barclays reduced their price objective on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, November 1st. Needham & Company LLC restated a “buy” rating and issued a $260.00 price objective on shares of Apple in a research report on Friday, November 1st. Oppenheimer reissued a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 price target on shares of Apple in a report on Monday, November 25th. Finally, Rosenblatt Securities boosted their price objective on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.68.

Insider Activity at Apple

In other news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock valued at $92,007,745 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Up 1.0 %

AAPL opened at $239.59 on Tuesday. The company has a market cap of $3.62 trillion, a P/E ratio of 39.41, a price-to-earnings-growth ratio of 2.33 and a beta of 1.24. The company has a fifty day moving average price of $229.02 and a two-hundred day moving average price of $220.02. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $240.79.

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

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.42%. Apple’s payout ratio is 16.45%.

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.