Apple Inc. (NASDAQ:AAPL) Position Lifted by KRS Capital Management LLC

KRS Capital Management LLC increased its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 72,027 shares of the iPhone maker’s stock after buying an additional 106 shares during the quarter. Apple comprises 14.0% of KRS Capital Management LLC’s investment portfolio, making the stock its biggest holding. KRS Capital Management LLC’s holdings in Apple were worth $9,847,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Apple by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after buying an additional 8,734,393 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Apple by 1.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock worth $14,097,970,000 after buying an additional 1,155,915 shares during the last quarter. Swiss National Bank lifted its position in Apple by 13.1% during the 1st quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock worth $12,407,910,000 after acquiring an additional 8,230,300 shares during the period. Wellington Management Group LLP lifted its position in Apple by 10.1% during the 1st quarter. Wellington Management Group LLP now owns 67,133,546 shares of the iPhone maker’s stock worth $11,722,187,000 after acquiring an additional 6,162,898 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Apple by 2.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 49,435,007 shares of the iPhone maker’s stock worth $6,758,754,000 after acquiring an additional 1,003,177 shares during the period. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $150.72 on Friday. The company has a market cap of $2.40 trillion, a P/E ratio of 24.67, a P/E/G ratio of 1.90 and a beta of 1.25. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.95. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94. The business has a fifty day simple moving average of $147.21 and a 200-day simple moving average of $150.00.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.02. Apple had a return on equity of 160.90% and a net margin of 25.31%. The business had revenue of $90.15 billion during the quarter, compared to the consensus estimate of $88.77 billion. During the same quarter in the previous year, the business earned $1.24 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts forecast that Apple Inc. will post 6.31 EPS for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Friday, November 4th. Apple’s dividend payout ratio is presently 15.06%.

Insiders Place Their Bets

In other Apple news, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the transaction, the chief financial officer now owns 110,673 shares in the company, valued at $17,259,454.35. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Deirdre O’brien sold 8,053 shares of the business’s stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $142.45, for a total value of $1,147,149.85. Following the transaction, the senior vice president now owns 136,290 shares in the company, valued at $19,414,510.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the completion of the transaction, the chief financial officer now owns 110,673 shares in the company, valued at approximately $17,259,454.35. The disclosure for this sale can be found here. Insiders have sold a total of 360,651 shares of company stock worth $53,703,645 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AAPL. KeyCorp reaffirmed a “buy” rating and set a $175.00 price objective on shares of Apple in a research report on Tuesday, November 8th. Sanford C. Bernstein set a $170.00 price objective on Apple in a research report on Monday, September 12th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $139.00 price objective on shares of Apple in a research report on Thursday, September 8th. Wedbush decreased their price objective on Apple from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, October 28th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Apple from $175.00 to $170.00 and set a “buy” rating for the company in a report on Friday, October 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $176.26.

Apple 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.

See Also

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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