Klein Pavlis & Peasley Financial Inc. Invests $894,000 in Apple Inc. (NASDAQ:AAPL)

Klein Pavlis & Peasley Financial Inc. purchased a new position in Apple Inc. (NASDAQ:AAPLFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,645 shares of the iPhone maker’s stock, valued at approximately $894,000.

Several other institutional investors have also recently made changes to their positions in AAPL. Moneta Group Investment Advisors LLC increased its holdings in shares of Apple by 116,483.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock worth $74,002,245,000 after purchasing an additional 569,066,184 shares during the period. Norges Bank purchased a new position in Apple in the fourth quarter worth $21,746,940,000. Morgan Stanley grew its position in Apple by 14.2% in the fourth quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock worth $27,110,586,000 after acquiring an additional 25,926,552 shares in the last quarter. Barclays PLC grew its position in Apple by 60.0% in the second quarter. Barclays PLC now owns 46,932,352 shares of the iPhone maker’s stock worth $9,103,464,000 after acquiring an additional 17,604,799 shares in the last quarter. Finally, Osaic Holdings Inc. grew its position in Apple by 154.9% in the second quarter. Osaic Holdings Inc. now owns 23,295,770 shares of the iPhone maker’s stock worth $1,729,270,000 after acquiring an additional 14,157,430 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Insider Activity

In other news, Director Arthur D. Levinson sold 100,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the sale, the director now owns 4,434,576 shares in the company, valued at $802,392,181.44. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL stock opened at $168.84 on Wednesday. Apple Inc. has a 1 year low of $159.78 and a 1 year high of $199.62. The firm has a 50-day moving average of $180.27 and a 200 day moving average of $182.59. The company has a market cap of $2.61 trillion, a P/E ratio of 26.30, a PEG ratio of 2.07 and a beta of 1.27. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02.

Apple (NASDAQ:AAPLGet Free Report) last announced its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.09. Apple had a net margin of 26.16% and a return on equity of 156.04%. The business had revenue of $119.60 billion during the quarter, compared to the consensus estimate of $117.99 billion. During the same quarter last year, the firm earned $1.88 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, sell-side analysts forecast that Apple Inc. will post 6.55 EPS for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s dividend payout ratio is 14.95%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wedbush reiterated an “outperform” rating and issued a $250.00 target price on shares of Apple in a research report on Thursday, March 21st. JPMorgan Chase & Co. cut their target price on shares of Apple from $225.00 to $215.00 and set an “overweight” rating for the company in a research report on Friday, February 2nd. Citigroup reiterated a “buy” rating and issued a $225.00 target price on shares of Apple in a research report on Friday, February 16th. Bank of America upgraded shares of Apple from a “neutral” rating to a “buy” rating and upped their target price for the stock from $208.00 to $225.00 in a research report on Thursday, January 18th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $200.00 target price on shares of Apple in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $204.23.

Check Out Our Latest Stock Report on Apple

About Apple

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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