Kure Advisory LLC Trims Holdings in Apple Inc. $AAPL

Kure Advisory LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 2.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 6,394 shares of the iPhone maker’s stock after selling 187 shares during the quarter. Apple comprises about 0.9% of Kure Advisory LLC’s holdings, making the stock its 15th largest position. Kure Advisory LLC’s holdings in Apple were worth $1,312,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Apple by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker’s stock valued at $311,157,662,000 after buying an additional 5,005,297 shares during the period. Geode Capital Management LLC increased its stake in Apple by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker’s stock valued at $84,999,145,000 after purchasing an additional 6,307,413 shares during the last quarter. Kingstone Capital Partners Texas LLC increased its stake in Apple by 573,627.2% during the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock valued at $39,065,374,000 after purchasing an additional 205,656,808 shares during the last quarter. Northern Trust Corp increased its stake in Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $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 boosted its holdings in shares of Apple by 14.3% during the fourth 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 valued at $26,220,566,000 after acquiring an additional 13,137,968 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the transaction, the chief executive officer owned 3,280,295 shares in the company, valued at $842,412,558.95. This represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,922 shares of company stock worth $64,320,190 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Melius Research set a $290.00 price target on shares of Apple and gave the company a “buy” rating in a report on Wednesday, September 10th. Morgan Stanley set a $298.00 price target on shares of Apple and gave the company an “overweight” rating in a report on Thursday. UBS Group reissued a “neutral” rating on shares of Apple in a report on Monday, September 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Apple in a report on Saturday, September 27th. Finally, Barclays upped their price objective on shares of Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a report on Friday, August 1st. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $247.49.

Apple Price Performance

Shares of AAPL opened at $258.02 on Friday. The company has a market capitalization of $3.83 trillion, a price-to-earnings ratio of 39.15, a P/E/G ratio of 2.50 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 $233.09 and its 200-day moving average is $214.69.

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

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders 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 dividend yield of 0.4%. Apple’s dividend payout ratio is currently 15.78%.

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.