Apple Inc. (NASDAQ:AAPL) Shares Sold by KP Management LLC

KP Management LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 8.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 45,000 shares of the iPhone maker’s stock after selling 4,000 shares during the quarter. Apple comprises approximately 3.4% of KP Management LLC’s holdings, making the stock its 4th biggest position. KP Management LLC’s holdings in Apple were worth $10,485,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bull Oak Capital LLC increased its stake in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares during the period. Hershey Financial Advisers LLC acquired a new stake in Apple in the 2nd quarter worth about $42,000. Christopher J. Hasenberg Inc boosted its holdings in Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the period. Cordant Inc. grew its position in shares of Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after purchasing an additional 173 shares in the last quarter. Finally, Sage Financial Group Inc. bought a new position in shares of Apple during the second quarter worth approximately $206,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. StockNews.com cut Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a research note on Friday, October 25th. Maxim Group increased their price objective on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Apple in a research report on Tuesday, December 10th. Finally, New Street Research reaffirmed a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $237.47.

Apple Stock Down 1.3 %

Apple stock opened at $255.59 on Friday. The firm has a market cap of $3.86 trillion, a price-to-earnings ratio of 42.04, a PEG ratio of 2.41 and a beta of 1.23. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a 50 day moving average price of $237.41 and a two-hundred day moving average price of $227.65.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.46 earnings per share. Equities analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. Apple’s payout ratio is 16.45%.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 508,170 shares of company stock valued at $117,004,745 over the last 90 days. Company insiders own 0.06% of the company’s stock.

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.