KCM Investment Advisors LLC Sells 7,494 Shares of Apple Inc. (NASDAQ:AAPL)

KCM Investment Advisors LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 941,647 shares of the iPhone maker’s stock after selling 7,494 shares during the period. Apple accounts for about 7.1% of KCM Investment Advisors LLC’s portfolio, making the stock its largest holding. KCM Investment Advisors LLC’s holdings in Apple were worth $198,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in AAPL. Christopher J. Hasenberg Inc purchased a new stake in shares of Apple during the 1st quarter valued at approximately $35,000. Fidelis Capital Partners LLC raised its position in shares of Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. purchased a new stake in shares of Apple during the 4th quarter valued at approximately $39,000. University of Texas Texas AM Investment Managment Co. raised its position in shares of Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after buying an additional 368 shares during the period. Finally, Clarity Asset Management Inc. purchased a new stake in shares of Apple during the 4th quarter valued at approximately $85,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 517,924 shares of company stock worth $114,786,399 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $225.77 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The firm has a fifty day moving average price of $222.96 and a 200 day moving average price of $204.59. The company has a market cap of $3.46 trillion, a P/E ratio of 35.11, a PEG ratio of 2.66 and a beta of 1.24. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter in the prior year, the firm posted $1.26 earnings per share. Apple’s revenue for the quarter was up 4.9% on a year-over-year basis. Sell-side analysts predict that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio is presently 15.55%.

Analyst Ratings Changes

A number of brokerages have issued reports on AAPL. TD Cowen boosted their target price on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, July 29th. New Street Research reissued a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, September 25th. Maxim Group reissued a “hold” rating and issued a $203.00 target price on shares of Apple in a research report on Tuesday, September 10th. Piper Sandler reissued a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Tuesday, September 10th. Finally, Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 target price on shares of Apple in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have assigned a buy rating and one has 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 $239.27.

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.