Koss Olinger Consulting LLC Cuts Stock Position in Apple Inc. $AAPL

Koss Olinger Consulting LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 6.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,852 shares of the iPhone maker’s stock after selling 1,651 shares during the quarter. Koss Olinger Consulting LLC’s holdings in Apple were worth $5,520,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Apple by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker’s stock worth $311,157,662,000 after purchasing an additional 5,005,297 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Apple by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker’s stock worth $84,999,145,000 after purchasing an additional 6,307,413 shares during the last quarter. Norges Bank acquired a new position in shares of Apple during the 4th quarter worth about $46,868,648,000. Northern Trust Corp raised its position in shares of Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Apple by 14.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock worth $26,220,566,000 after purchasing an additional 13,137,968 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the sale, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.06% of the company’s stock.

Apple Stock Down 0.0%

AAPL stock opened at $239.69 on Monday. The firm has a market cap of $3.56 trillion, a PE ratio of 36.37, a PEG ratio of 2.50 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The firm’s 50 day moving average price is $219.28 and its 200-day moving average price is $212.40. Apple Inc. has a one year low of $169.21 and a one year high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.40 EPS. On average, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s payout ratio is presently 15.78%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AAPL shares. Raymond James Financial restated an “outperform” rating and set a $240.00 price target (up previously from $230.00) on shares of Apple in a research report on Friday, August 1st. Rosenblatt Securities restated a “neutral” rating and set a $217.00 price target on shares of Apple in a research report on Tuesday, July 29th. Moffett Nathanson upgraded shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 price objective for the company in a report on Thursday. Citigroup increased their price objective on shares of Apple from $240.00 to $245.00 and gave the company a “buy” rating in a report on Friday, August 1st. Finally, Jefferies Financial Group upgraded shares of Apple from an “underperform” rating to a “hold” rating in a report on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average price target of $239.05.

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.