Kaye Capital Management Reduces Position in Apple Inc. (NASDAQ:AAPL)

Kaye Capital Management decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,913 shares of the iPhone maker’s stock after selling 52 shares during the quarter. Apple comprises about 1.8% of Kaye Capital Management’s portfolio, making the stock its 15th biggest holding. Kaye Capital Management’s holdings in Apple were worth $4,407,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of AAPL. China Universal Asset Management Co. Ltd. grew its holdings in shares of Apple by 127.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock worth $12,943,000 after buying an additional 42,282 shares in the last quarter. Westwood Holdings Group Inc. grew its holdings in shares of Apple by 2.4% during the first quarter. Westwood Holdings Group Inc. now owns 761,774 shares of the iPhone maker’s stock worth $130,629,000 after buying an additional 17,519 shares in the last quarter. Lavaca Capital LLC grew its holdings in shares of Apple by 171.4% during the first quarter. Lavaca Capital LLC now owns 42,930 shares of the iPhone maker’s stock worth $7,362,000 after buying an additional 27,111 shares in the last quarter. Caxton Associates LP grew its holdings in shares of Apple by 97.3% during the first quarter. Caxton Associates LP now owns 157,833 shares of the iPhone maker’s stock worth $27,065,000 after buying an additional 77,819 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its position in shares of Apple by 1.2% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 822,174 shares of the iPhone maker’s stock valued at $140,986,000 after acquiring an additional 10,031 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Up 1.0 %

AAPL stock opened at $253.48 on Wednesday. The company’s 50 day moving average price is $233.64 and its 200 day moving average price is $224.73. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $253.83. The firm has a market capitalization of $3.83 trillion, a price-to-earnings ratio of 41.69, a PEG ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The company 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 revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.46 earnings per share. On average, equities research analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders 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 yield of 0.39%. Apple’s dividend payout ratio is currently 16.45%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AAPL shares. Piper Sandler reissued a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, October 9th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, September 10th. Melius Research reissued a “buy” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, August 27th. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a research report on Friday, October 25th. Finally, StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $236.78.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the transaction, the senior vice president now directly owns 187,043 shares in the company, valued at $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s 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 transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This trade 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 worth $92,007,745 over the last three months. Insiders own 0.06% of the company’s stock.

Apple Company 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.