Apple Inc. (NASDAQ:AAPL) Stake Raised by KP Management LLC

KP Management LLC lifted its holdings in Apple Inc. (NASDAQ:AAPL) by 8.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 49,000 shares of the iPhone maker’s stock after purchasing an additional 4,000 shares during the quarter. Apple comprises about 3.6% of KP Management LLC’s holdings, making the stock its 6th biggest position. KP Management LLC’s holdings in Apple were worth $10,320,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of AAPL. Dimensional Fund Advisors LP grew its position in shares of Apple by 5.5% in the second 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 during the period. Ameriprise Financial Inc. lifted its stake in Apple by 6.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock valued at $10,909,457,000 after buying an additional 3,245,281 shares in the last quarter. Capital International Investors boosted its holdings in Apple by 7.1% in the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after buying an additional 2,474,887 shares during the last quarter. American Century Companies Inc. increased its stake in Apple by 3.2% during the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock worth $7,291,583,000 after buying an additional 1,065,759 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Apple by 1.7% during the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock valued at $5,061,296,000 after acquiring an additional 485,873 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Transactions at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction dated 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 completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 404,040 shares of company stock valued at $91,062,512. 0.06% of the stock is currently owned by company insiders.

Apple Price Performance

AAPL opened at $225.00 on Monday. The firm has a market cap of $3.40 trillion, a price-to-earnings ratio of 37.01, a PEG ratio of 2.20 and a beta of 1.24. 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 stock’s 50-day moving average price is $227.04 and its 200 day moving average price is $216.61. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data 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 business 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%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.46 earnings per share. As a group, sell-side analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The firm 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 was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is 16.45%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Bank of America reaffirmed a “buy” rating and issued a $256.00 price target on shares of Apple in a research note on Thursday, October 3rd. Wedbush reaffirmed an “outperform” rating and set a $285.00 target price on shares of Apple in a report on Monday, September 9th. Raymond James increased their target price on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Moffett Nathanson began coverage on shares of Apple in a research report on Monday, August 19th. They set a “neutral” rating and a $211.00 price target on the stock. Finally, Citigroup increased their price objective on shares of Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.51.

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.