Apple Inc. (NASDAQ:AAPL) Stock Position Trimmed by Kendall Capital Management

Kendall Capital Management lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,292 shares of the iPhone maker’s stock after selling 225 shares during the quarter. Apple accounts for 1.7% of Kendall Capital Management’s portfolio, making the stock its 9th largest position. Kendall Capital Management’s holdings in Apple were worth $3,936,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AAPL. Paces Ferry Wealth Advisors LLC boosted its stake in shares of Apple by 1.1% in the second quarter. Paces Ferry Wealth Advisors LLC now owns 72,847 shares of the iPhone maker’s stock worth $14,130,000 after buying an additional 823 shares during the last quarter. Jackson Square Capital LLC boosted its stake in shares of Apple by 24.7% in the second quarter. Jackson Square Capital LLC now owns 97,468 shares of the iPhone maker’s stock worth $18,906,000 after buying an additional 19,337 shares during the last quarter. Calamos Wealth Management LLC boosted its stake in shares of Apple by 1.0% in the second quarter. Calamos Wealth Management LLC now owns 588,652 shares of the iPhone maker’s stock worth $114,181,000 after buying an additional 5,877 shares during the last quarter. AIA Group Ltd boosted its stake in shares of Apple by 45.6% in the second quarter. AIA Group Ltd now owns 86,273 shares of the iPhone maker’s stock worth $16,734,000 after buying an additional 27,019 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of Apple by 79.0% in the second quarter. China Universal Asset Management Co. Ltd. now owns 25,005 shares of the iPhone maker’s stock worth $4,850,000 after buying an additional 11,038 shares during the last quarter. Hedge funds and other institutional investors own 58.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AAPL shares. JPMorgan Chase & Co. restated an “overweight” rating on shares of Apple in a research note on Thursday, September 21st. Deutsche Bank Aktiengesellschaft upped their target price on Apple from $180.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, July 24th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $220.00 price target on shares of Apple in a report on Friday, September 15th. Robert W. Baird upped their price target on Apple from $180.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday, August 1st. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $210.00 price target on shares of Apple in a report on Friday, November 3rd. Ten analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $197.82.

Apple Trading Up 2.3 %

Shares of Apple stock opened at $186.40 on Friday. The firm has a market capitalization of $2.90 trillion, a price-to-earnings ratio of 30.46, a PEG ratio of 2.53 and a beta of 1.30. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $198.23. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.94 and a current ratio of 0.99. The stock has a 50 day moving average of $176.47 and a 200 day moving average of $179.95.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.07. The company had revenue of $89.50 billion during the quarter, compared to analyst estimates of $89.34 billion. Apple had a return on equity of 160.78% and a net margin of 25.31%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.29 earnings per share. As a group, research analysts predict that Apple Inc. will post 6.55 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 13th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, November 10th. This represents a $0.96 annualized dividend and a dividend yield of 0.52%. Apple’s dividend payout ratio is currently 15.69%.

Insider Transactions at Apple

In other news, CFO Luca Maestri sold 31,685 shares of the firm’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $178.69, for a total transaction of $5,661,792.65. Following the completion of the transaction, the chief financial officer now directly owns 107,661 shares in the company, valued at $19,237,944.09. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, SVP Deirdre O’brien sold 65,536 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the completion of the transaction, the senior vice president now directly owns 136,445 shares in the company, valued at $23,483,548.95. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Luca Maestri sold 31,685 shares of the stock in a transaction on Monday, October 9th. The shares were sold at an average price of $178.69, for a total value of $5,661,792.65. Following the completion of the sale, the chief financial officer now owns 107,661 shares in the company, valued at $19,237,944.09. The disclosure for this sale can be found here. Insiders sold a total of 439,585 shares of company stock worth $76,485,550 over the last ninety days. Company 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.