Kwmg LLC Acquires 60 Shares of Apple Inc. (NASDAQ:AAPL)

Kwmg LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,640 shares of the iPhone maker’s stock after acquiring an additional 60 shares during the quarter. Kwmg LLC’s holdings in Apple were worth $1,825,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Addison Advisors LLC boosted its stake in shares of Apple by 0.5% during the 3rd quarter. Addison Advisors LLC now owns 28,362 shares of the iPhone maker’s stock valued at $4,856,000 after purchasing an additional 138 shares in the last quarter. Security Financial Services INC. lifted its holdings in Apple by 3.1% in the third quarter. Security Financial Services INC. now owns 41,955 shares of the iPhone maker’s stock worth $7,183,000 after buying an additional 1,268 shares during the period. Coyle Financial Counsel LLC boosted its position in Apple by 46.9% during the 3rd quarter. Coyle Financial Counsel LLC now owns 17,091 shares of the iPhone maker’s stock valued at $2,926,000 after acquiring an additional 5,456 shares in the last quarter. Barclays PLC grew its holdings in shares of Apple by 6.0% during the 3rd quarter. Barclays PLC now owns 49,759,061 shares of the iPhone maker’s stock worth $8,519,244,000 after acquiring an additional 2,826,709 shares during the period. Finally, Mycio Wealth Partners LLC raised its position in shares of Apple by 14.2% in the 3rd quarter. Mycio Wealth Partners LLC now owns 70,097 shares of the iPhone maker’s stock worth $12,001,000 after acquiring an additional 8,716 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $216.75 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $3.32 trillion, a PE ratio of 33.71, a price-to-earnings-growth ratio of 2.56 and a beta of 1.24. The firm’s 50 day moving average price is $192.13 and its 200-day moving average price is $185.31. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $220.20.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The business had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. During the same period last year, the firm earned $1.52 earnings per share. The company’s quarterly revenue was down 4.3% on a year-over-year basis. Equities research analysts expect that Apple Inc. will post 6.59 EPS for the current year.

Apple declared that its board has authorized a share repurchase program on Thursday, May 2nd that allows the company to repurchase $110.00 billion in shares. This repurchase authorization allows the iPhone maker to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.46%. The ex-dividend date was Friday, May 10th. This is a positive change from Apple’s previous quarterly dividend of $0.24. Apple’s payout ratio is currently 15.55%.

Insiders Place Their Bets

In other news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the transaction, the director now directly owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the sale, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,999 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total transaction of $951,809.60. Following the completion of the sale, the insider now directly owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The disclosure for this sale can be found here. Insiders sold a total of 192,355 shares of company stock worth $34,771,329 over the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on AAPL. Needham & Company LLC reaffirmed a “buy” rating and issued a $220.00 price target on shares of Apple in a research note on Monday. Morgan Stanley reaffirmed an “overweight” rating and issued a $216.00 target price on shares of Apple in a research report on Tuesday, June 11th. JPMorgan Chase & Co. lifted their price target on shares of Apple from $225.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. Canaccord Genuity Group raised their target price on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Saturday, May 4th. Finally, DZ Bank reiterated a “hold” rating and set a $180.00 target price on shares of Apple in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $215.71.

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.