Kaydan Wealth Management Inc. Cuts Position in Apple Inc. (NASDAQ:AAPL)

Kaydan Wealth Management Inc. reduced its position in Apple Inc. (NASDAQ:AAPL) by 2.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,223 shares of the iPhone maker’s stock after selling 235 shares during the quarter. Apple makes up approximately 0.7% of Kaydan Wealth Management Inc.’s investment portfolio, making the stock its 20th biggest position. Kaydan Wealth Management Inc.’s holdings in Apple were worth $2,382,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its holdings in Apple by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock valued at $11,160,183,000 after purchasing an additional 2,785,807 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Apple by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock valued at $10,909,457,000 after acquiring an additional 3,245,281 shares in the last quarter. Capital International Investors lifted its stake in shares of Apple by 7.1% in the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after acquiring an additional 2,474,887 shares in the last quarter. American Century Companies Inc. boosted its holdings in Apple by 3.2% in the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after purchasing an additional 1,065,759 shares during the last quarter. Finally, Swedbank AB grew its stake in Apple by 13.4% during the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after purchasing an additional 2,359,409 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on AAPL. Bank of America lifted their price target on shares of Apple to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Oppenheimer restated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. UBS Group reiterated a “neutral” rating and issued a $236.00 price target on shares of Apple in a research note on Monday, December 2nd. Moffett Nathanson cut their price objective on Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 19th. Finally, Barclays decreased their target price on Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $235.68.

Insiders Place Their Bets

In related news, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the transaction, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. The trade was a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 408,170 shares of company stock worth $92,007,745. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $242.84 on Monday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $244.63. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The firm has a 50-day moving average of $230.53 and a two-hundred day moving average of $221.83. The company has a market capitalization of $3.67 trillion, a price-to-earnings ratio of 39.94, a PEG ratio of 2.38 and a beta of 1.23.

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, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion for 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%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.46 earnings per share. As a group, analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors 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 dividend on an annualized basis and a yield of 0.41%. Apple’s dividend payout ratio is currently 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.