Apple Inc. (NASDAQ:AAPL) Shares Bought by Kennedy Investment Group

Kennedy Investment Group lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 66,499 shares of the iPhone maker’s stock after acquiring an additional 935 shares during the period. Apple accounts for about 7.2% of Kennedy Investment Group’s portfolio, making the stock its 2nd largest position. Kennedy Investment Group’s holdings in Apple were worth $12,803,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. HTG Investment Advisors Inc. lifted its holdings in shares of Apple by 8.9% in the fourth quarter. HTG Investment Advisors Inc. now owns 15,721 shares of the iPhone maker’s stock valued at $3,027,000 after purchasing an additional 1,283 shares in the last quarter. Wealth Effects LLC lifted its stake in Apple by 6.4% during the 4th quarter. Wealth Effects LLC now owns 95,838 shares of the iPhone maker’s stock valued at $18,452,000 after acquiring an additional 5,779 shares in the last quarter. Sutton Place Investors LLC boosted its holdings in Apple by 55.9% during the 4th quarter. Sutton Place Investors LLC now owns 19,475 shares of the iPhone maker’s stock worth $3,749,000 after acquiring an additional 6,986 shares during the last quarter. Sapient Capital LLC bought a new stake in shares of Apple in the 4th quarter worth $200,137,000. Finally, Round Rock Advisors LLC raised its holdings in shares of Apple by 118.1% in the fourth quarter. Round Rock Advisors LLC now owns 100,031 shares of the iPhone maker’s stock valued at $19,259,000 after purchasing an additional 54,174 shares during the last quarter. 60.41% of the stock is owned by institutional investors.

Insider Buying and Selling at Apple

In related news, SVP Deirdre O’brien sold 54,732 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the transaction, the senior vice president now owns 136,572 shares in the company, valued at $23,068,376.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the sale, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Deirdre O’brien sold 54,732 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the sale, the senior vice president now directly owns 136,572 shares in the company, valued at $23,068,376.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 366,271 shares of company stock worth $63,653,887. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Bank of America boosted their price target on shares of Apple from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Citigroup decreased their price target on Apple from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Piper Sandler cut their price objective on Apple from $205.00 to $190.00 and set a “neutral” rating on the stock in a research report on Friday, February 2nd. Canaccord Genuity Group upped their price objective on Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Saturday, May 4th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $220.00 target price on shares of Apple in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $204.11.

Apple Stock Performance

NASDAQ:AAPL opened at $182.74 on Thursday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $199.62. The stock has a market cap of $2.82 trillion, a P/E ratio of 28.42, a PEG ratio of 2.21 and a beta of 1.26. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The business’s 50-day moving average price is $172.17 and its two-hundred day moving average price is $181.78.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. Apple’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period last year, the firm posted $1.52 EPS. As a group, equities analysts predict that Apple Inc. will post 6.54 EPS for the current fiscal year.

Apple declared that its Board of Directors has initiated a share buyback program on Thursday, May 2nd that permits the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 13th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.55%. This is an increase from Apple’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, May 10th. Apple’s payout ratio is presently 15.55%.

About Apple

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.