1,633 Shares in Apple Inc. (NASDAQ:AAPL) Bought by KMT Wealth Management LLC

KMT Wealth Management LLC acquired a new stake in Apple Inc. (NASDAQ:AAPL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,633 shares of the iPhone maker’s stock, valued at approximately $409,000. Apple accounts for approximately 0.3% of KMT Wealth Management LLC’s portfolio, making the stock its 8th biggest holding.

A number of other hedge funds have also recently modified their holdings of the company. Drystone LLC bought a new stake in Apple during the fourth quarter worth about $25,000. Life Planning Partners Inc purchased a new position in shares of Apple during the fourth quarter valued at approximately $47,000. Conquis Financial LLC purchased a new stake in Apple during the fourth quarter valued at approximately $63,000. LSV Asset Management purchased a new stake in shares of Apple in the fourth quarter worth $65,000. Finally, Pillar Financial Advisors LLC purchased a new stake in shares of Apple in the fourth quarter worth $82,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 38,822 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the sale, the senior vice president now directly owns 179,158 shares in the company, valued at approximately $40,072,269.86. The trade was a 17.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the transaction, the chief executive officer now directly owns 3,280,295 shares of the company’s stock, valued at $733,637,976.75. This trade represents a 3.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 191,507 shares of company stock valued at $42,694,080. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group restated an “underperform” rating and set a $170.62 target price (up previously from $167.88) on shares of Apple in a research report on Friday, May 2nd. Wedbush reaffirmed an “outperform” rating and issued a $270.00 price target on shares of Apple in a research note on Tuesday, June 10th. Loop Capital cut their target price on shares of Apple from $230.00 to $215.00 and set a “hold” rating on the stock in a research report on Wednesday, April 30th. Scotiabank cut shares of Apple to a “market perform” rating in a research note on Friday, May 2nd. Finally, Monness Crespi & Hardt lifted their price objective on shares of Apple to $245.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $234.86.

Apple Trading Up 2.2%

Shares of AAPL stock opened at $201.00 on Friday. The company’s 50-day moving average price is $202.35 and its 200-day moving average price is $221.71. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The stock has a market cap of $3.00 trillion, a price-to-earnings ratio of 31.31, a PEG ratio of 2.19 and a beta of 1.22. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.03. The business had revenue of $95.36 billion for the quarter, compared to analysts’ expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.53 earnings per share. As a group, equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. This is a boost from Apple’s previous quarterly dividend of $0.25. Apple’s dividend payout ratio (DPR) is presently 16.20%.

Apple 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.