Apple Inc. (NASDAQ:AAPL) Shares Sold by L.M. Kohn & Company

L.M. Kohn & Company cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 174,072 shares of the iPhone maker’s stock after selling 633 shares during the period. Apple makes up approximately 10.3% of L.M. Kohn & Company’s holdings, making the stock its largest holding. L.M. Kohn & Company’s holdings in Apple were worth $40,559,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Heritage Family Offices LLP acquired a new position in shares of Apple in the 2nd quarter valued at approximately $3,331,000. Adero Partners LLC increased its stake in shares of Apple by 36.7% in the second quarter. Adero Partners LLC now owns 125,085 shares of the iPhone maker’s stock worth $26,345,000 after buying an additional 33,602 shares during the last quarter. WBI Investments LLC raised its holdings in Apple by 304.3% in the second quarter. WBI Investments LLC now owns 29,120 shares of the iPhone maker’s stock valued at $6,133,000 after acquiring an additional 21,917 shares in the last quarter. TFB Advisors LLC boosted its stake in Apple by 17.1% during the 2nd quarter. TFB Advisors LLC now owns 28,652 shares of the iPhone maker’s stock valued at $6,035,000 after acquiring an additional 4,181 shares during the last quarter. Finally, Kings Path Partners LLC acquired a new position in Apple during the 2nd quarter worth $322,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Shares of Apple stock opened at $233.22 on Friday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company’s 50-day moving average price is $241.49 and its two-hundred day moving average price is $230.96. The stock has a market cap of $3.51 trillion, a PE ratio of 37.02, a price-to-earnings-growth ratio of 2.36 and a beta of 1.20.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. As a group, sell-side analysts anticipate that Apple Inc. will post 7.33 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 13th. Shareholders of record on Monday, February 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, February 10th. Apple’s payout ratio is 15.87%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AAPL. Morgan Stanley increased their price target on shares of Apple from $273.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Loop Capital lowered Apple from a “buy” rating to a “hold” rating and set a $230.00 target price for the company. in a research report on Tuesday, January 21st. Monness Crespi & Hardt upped their price target on Apple to $245.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. TD Cowen reaffirmed a “buy” rating on shares of Apple in a report on Tuesday, January 28th. Finally, Argus upgraded shares of Apple to a “strong-buy” rating in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $242.52.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the 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 approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

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.