Apple Inc. $AAPL Shares Acquired by Kelly Financial Services LLC

Kelly Financial Services LLC grew its stake in Apple Inc. (NASDAQ:AAPL) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,525 shares of the iPhone maker’s stock after purchasing an additional 276 shares during the quarter. Apple makes up 1.0% of Kelly Financial Services LLC’s holdings, making the stock its 25th biggest position. Kelly Financial Services LLC’s holdings in Apple were worth $3,390,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Apple by 0.4% during the first quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker’s stock worth $311,157,662,000 after acquiring an additional 5,005,297 shares during the last quarter. Kingstone Capital Partners Texas LLC boosted its position 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 worth $39,065,374,000 after acquiring an additional 205,656,808 shares during the last quarter. Northern Trust Corp boosted its position in Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after acquiring an additional 20,079,472 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in 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 worth $26,220,566,000 after acquiring an additional 13,137,968 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Apple by 1.0% during the first quarter. Goldman Sachs Group Inc. now owns 98,099,909 shares of the iPhone maker’s stock worth $21,790,933,000 after acquiring an additional 984,157 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the sale, the senior vice president directly owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 254,922 shares of company stock valued at $64,320,190. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AAPL. Sanford C. Bernstein began coverage on shares of Apple in a research report on Monday, September 15th. They set an “outperform” rating and a $290.00 price target on the stock. Rosenblatt Securities lifted their target price on shares of Apple from $223.00 to $241.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. Monness Crespi & Hardt lifted their target price on shares of Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. CLSA raised shares of Apple to a “strong-buy” rating in a research note on Sunday, October 5th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Apple from $255.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $248.29.

Apple Price Performance

Apple stock opened at $247.45 on Friday. The company’s 50 day simple moving average is $240.67 and its 200-day simple moving average is $216.66. The company has a market capitalization of $3.67 trillion, a price-to-earnings ratio of 37.55, a price-to-earnings-growth ratio of 2.43 and a beta of 1.09. Apple Inc. has a 1 year low of $169.21 and a 1 year 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.

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

Apple Announces Dividend

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