Kestra Private Wealth Services LLC Lowers Stake in Apple Inc. (NASDAQ:AAPL)

Kestra Private Wealth Services LLC decreased its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 2.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 764,235 shares of the iPhone maker’s stock after selling 19,227 shares during the quarter. Apple makes up 6.6% of Kestra Private Wealth Services LLC’s portfolio, making the stock its biggest holding. Kestra Private Wealth Services LLC’s holdings in Apple were worth $133,443,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cardinal Capital Management Inc. increased its position in Apple by 5,525.0% in the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after buying an additional 221 shares in the last quarter. Shore Point Advisors LLC purchased a new stake in shares of Apple during the fourth quarter worth about $41,000. HBC Financial Services PLLC grew its position in shares of Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares in the last quarter. Emerson Wealth LLC grew its position in shares of Apple by 363.6% during the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after purchasing an additional 320 shares in the last quarter. Finally, Econ Financial Services Corp grew its position in shares of Apple by 29.1% during the first quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock worth $74,000 after purchasing an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Analyst Ratings Changes

AAPL has been the subject of several research analyst reports. Evercore ISI increased their target price on Apple from $180.00 to $185.00 in a research report on Friday, July 29th. KeyCorp raised their price target on Apple from $177.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, August 19th. Rosenblatt Securities cut their price target on Apple from $168.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, July 29th. UBS Group set a $185.00 price target on Apple in a report on Wednesday. Finally, Credit Suisse Group set a $201.00 price target on Apple in a report on Thursday, September 8th. Two research analysts have rated the stock with a sell rating, six 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. According to data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average price target of $181.52.

Apple Stock Down 1.9 %

Shares of AAPL stock opened at $152.37 on Friday. The stock’s 50-day simple moving average is $159.46 and its 200-day simple moving average is $156.26. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. The firm has a market capitalization of $2.45 trillion, a PE ratio of 25.14, a P/E/G ratio of 1.99 and a beta of 1.23. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last issued its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. During the same quarter in the prior year, the business earned $1.30 earnings per share. The company’s revenue was up 1.9% compared to the same quarter last year. Equities analysts expect that Apple Inc. will post 6.11 earnings per share for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were paid a $0.23 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.60%. Apple’s payout ratio is 15.18%.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Apple news, CFO Luca Maestri sold 96,735 shares of the stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the transaction, the chief financial officer now owns 110,673 shares in the company, valued at $19,362,241.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the transaction, the senior vice president now owns 427,334 shares in the company, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Apple Company Profile

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Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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