Kelly Financial Group LLC Decreases Stake in Apple Inc. $AAPL

Kelly Financial Group LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,072 shares of the iPhone maker’s stock after selling 209 shares during the period. Apple comprises about 1.0% of Kelly Financial Group LLC’s investment portfolio, making the stock its 15th biggest holding. Kelly Financial Group LLC’s holdings in Apple were worth $6,580,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Focused Wealth Management Inc boosted its stake in Apple by 0.7% in the second quarter. Focused Wealth Management Inc now owns 106,605 shares of the iPhone maker’s stock valued at $21,872,000 after acquiring an additional 713 shares during the period. Hofer & Associates. Inc boosted its stake in Apple by 0.3% in the second quarter. Hofer & Associates. Inc now owns 23,749 shares of the iPhone maker’s stock valued at $4,873,000 after acquiring an additional 65 shares during the period. Bank of Stockton boosted its stake in Apple by 0.6% in the second quarter. Bank of Stockton now owns 41,793 shares of the iPhone maker’s stock valued at $8,575,000 after acquiring an additional 251 shares during the period. ACT Advisors LLC. raised its holdings in shares of Apple by 0.8% during the second quarter. ACT Advisors LLC. now owns 8,315 shares of the iPhone maker’s stock valued at $1,706,000 after buying an additional 64 shares during the last quarter. Finally, Bfsg LLC raised its holdings in shares of Apple by 1.1% during the second quarter. Bfsg LLC now owns 85,418 shares of the iPhone maker’s stock valued at $17,525,000 after buying an additional 954 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Trading Up 0.3%

NASDAQ AAPL opened at $258.02 on Friday. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. 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 stock has a market cap of $3.83 trillion, a price-to-earnings ratio of 39.15, a PEG ratio of 2.50 and a beta of 1.09. The firm’s 50 day moving average price is $233.09 and its two-hundred day moving average price is $214.69.

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

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued 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 was Monday, August 11th. Apple’s payout ratio is currently 15.78%.

Insider Activity

In other news, SVP Deirdre O’brien sold 43,013 shares of the business’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the transaction, the senior vice president directly owned 136,687 shares in the company, valued at $35,181,866.93. The trade was a 23.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the transaction, the senior vice president owned 179,158 shares in the company, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,922 shares of company stock worth $64,320,190 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AAPL. Citigroup reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, September 10th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $266.00 price target on shares of Apple in a report on Tuesday, August 26th. BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, August 13th. JPMorgan Chase & Co. lifted their price target on Apple from $255.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Finally, Sanford C. Bernstein began coverage on Apple in a report on Monday, September 15th. They set an “outperform” rating and a $290.00 price target on the stock. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $247.49.

Apple Company 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.