Apple Inc. $AAPL Shares Sold by KFA Private Wealth Group LLC

KFA Private Wealth Group LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,857 shares of the iPhone maker’s stock after selling 667 shares during the quarter. Apple makes up about 1.3% of KFA Private Wealth Group LLC’s portfolio, making the stock its 19th biggest holding. KFA Private Wealth Group LLC’s holdings in Apple were worth $4,074,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AAPL. Ryan Investment Management Inc. purchased a new position in Apple in the 2nd quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC grew its position in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares in the last quarter. Elite Financial Inc. acquired a new stake in shares of Apple in the first quarter valued at approximately $58,000. LSV Asset Management purchased a new position in Apple during the fourth quarter worth approximately $65,000. Finally, HFM Investment Advisors LLC purchased a new position in Apple during the first quarter worth approximately $99,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Moffett Nathanson raised Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price for the company in a research note on Thursday, September 4th. Melius Research set a $345.00 price objective on shares of Apple in a research report on Friday, October 31st. Wells Fargo & Company set a $300.00 target price on shares of Apple and gave the stock an “overweight” rating in a research note on Friday, October 31st. Seaport Res Ptn upgraded shares of Apple to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Sanford C. Bernstein set a $325.00 price target on shares of Apple in a report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Apple has an average rating of “Moderate Buy” and an average price target of $278.22.

Insider Buying and Selling at Apple

In other Apple news, CFO Kevan Parekh sold 4,199 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total value of $1,038,790.61. Following the completion of the transaction, the chief financial officer owned 8,765 shares of the company’s stock, valued at $2,168,373.35. This trade represents a 32.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Katherine L. Adams sold 47,125 shares of the company’s stock in a transaction on Thursday, October 2nd. The stock was 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 in the company, valued at $46,005,982.82. This represents a 20.83% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 224,300 shares of company stock worth $57,586,933. 0.06% of the stock is currently owned by company insiders.

Apple Stock Performance

Shares of AAPL stock opened at $269.77 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a market cap of $4.00 trillion, a P/E ratio of 40.94, a P/E/G ratio of 2.62 and a beta of 1.08. The firm’s 50 day moving average price is $251.53 and its 200-day moving average price is $224.02. Apple Inc. has a one year low of $169.21 and a one year high of $277.32.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $102.47 billion for the quarter, compared to analyst estimates of $101.65 billion. During the same quarter in the previous year, the company earned $1.64 earnings per share. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Monday, November 10th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is presently 13.92%.

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.