Apple Inc. $AAPL Holdings Raised by KFG Wealth Management LLC

KFG Wealth Management LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 32.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,774 shares of the iPhone maker’s stock after purchasing an additional 6,867 shares during the quarter. Apple comprises about 0.9% of KFG Wealth Management LLC’s investment portfolio, making the stock its 20th largest holding. KFG Wealth Management LLC’s holdings in Apple were worth $5,698,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Advanced Portfolio Management LLC raised its position in Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock worth $3,260,000 after acquiring an additional 47 shares in the last quarter. Salus Financial Advisors LLC raised its position in Apple by 3.9% in the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock worth $291,000 after acquiring an additional 49 shares in the last quarter. Sharpepoint LLC raised its position in Apple by 3.5% in the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock worth $322,000 after acquiring an additional 51 shares in the last quarter. Redwood Financial Network Corp raised its position in Apple by 0.6% in the fourth quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock worth $2,184,000 after acquiring an additional 53 shares in the last quarter. Finally, Mission Hills Financial Advisory LLC raised its position in Apple by 1.3% in the first quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker’s stock worth $892,000 after acquiring an additional 53 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

AAPL has been the subject of a number of analyst reports. Evercore ISI set a $290.00 price objective on shares of Apple and gave the company an “outperform” rating in a research note on Friday, September 26th. Jefferies Financial Group boosted their price target on shares of Apple from $190.67 to $205.82 and gave the company a “hold” rating in a report on Monday, September 8th. Rosenblatt Securities boosted their price target on shares of Apple from $223.00 to $241.00 and gave the company a “neutral” rating in a report on Wednesday, September 10th. Citigroup restated a “buy” rating on shares of Apple in a report on Wednesday, September 10th. Finally, Morgan Stanley set a $298.00 price target on shares of Apple and gave the company an “overweight” rating in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $247.51.

Apple Price Performance

Shares of AAPL opened at $257.13 on Friday. The company has a market capitalization of $3.82 trillion, a price-to-earnings ratio of 39.02, a P/E/G ratio of 2.48 and a beta of 1.09. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The business’s 50-day moving average is $232.20 and its 200-day moving average is $214.38.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter in the prior year, the company posted $1.40 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. Equities research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s dividend payout ratio is currently 15.78%.

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.