Klein Pavlis & Peasley Financial Inc. Reduces Holdings in Apple Inc. $AAPL

Klein Pavlis & Peasley Financial Inc. decreased its position in Apple Inc. (NASDAQ:AAPL) by 61.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,621 shares of the iPhone maker’s stock after selling 2,630 shares during the period. Klein Pavlis & Peasley Financial Inc.’s holdings in Apple were worth $333,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AAPL. First National Bank of Hutchinson grew its stake in shares of Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after buying an additional 6,982 shares during the period. Eagle Capital Management LLC boosted its position in shares of Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after purchasing an additional 272 shares during the period. Brighton Jones LLC boosted its position in shares of Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after purchasing an additional 69,207 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Apple by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after purchasing an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE boosted its position in shares of Apple by 2.4% during the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after purchasing an additional 1,155 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 47,125 shares of Apple 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 sale, the senior vice president directly owned 179,158 shares in the company, valued at $46,005,982.82. This trade represents a 20.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the sale, 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 ownership of the stock. 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 ninety days. 0.06% of the stock is owned by corporate insiders.

Apple Price Performance

Shares of AAPL opened at $249.34 on Thursday. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The firm’s fifty day simple moving average is $240.12 and its 200-day simple moving average is $216.49. The firm has a market capitalization of $3.70 trillion, a price-to-earnings ratio of 37.84, a PEG ratio of 2.41 and a beta of 1.09. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data 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. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same period last year, the business earned $1.40 EPS. The company’s revenue was up 9.6% on a year-over-year basis. Equities analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

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

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research analyst reports. Moffett Nathanson raised shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 price objective for the company in a research report on Thursday, September 4th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $266.00 price objective on shares of Apple in a research report on Tuesday, August 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Apple in a research report on Wednesday, October 8th. Loop Capital lowered their price objective on shares of Apple from $230.00 to $226.00 and set a “hold” rating for the company in a research report on Thursday, August 21st. Finally, Seaport Res Ptn raised shares of Apple to a “strong-buy” rating in a research report on Wednesday, October 1st. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $248.29.

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.