Kapstone Financial Advisors LLC Has $19.24 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Kapstone Financial Advisors LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 0.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,338 shares of the iPhone maker’s stock after selling 84 shares during the period. Apple accounts for 12.6% of Kapstone Financial Advisors LLC’s portfolio, making the stock its 2nd largest holding. Kapstone Financial Advisors LLC’s holdings in Apple were worth $19,238,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Bellwether Advisors LLC increased its holdings in shares of Apple by 387.3% in the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock valued at $5,128,000 after purchasing an additional 19,352 shares in the last quarter. WT Asset Management Ltd acquired a new stake in shares of Apple in the second quarter valued at approximately $80,057,000. Councilmark Asset Management LLC acquired a new stake in shares of Apple in the first quarter valued at approximately $11,776,000. Hummer Financial Advisory Services Inc increased its holdings in shares of Apple by 2.2% in the first quarter. Hummer Financial Advisory Services Inc now owns 5,488 shares of the iPhone maker’s stock valued at $941,000 after purchasing an additional 120 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its holdings in shares of Apple by 1.1% in the first quarter. Bleakley Financial Group LLC now owns 617,582 shares of the iPhone maker’s stock valued at $105,903,000 after purchasing an additional 6,567 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

Shares of AAPL opened at $235.00 on Friday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The firm has a fifty day simple moving average of $225.78 and a 200 day simple moving average of $208.11. The stock has a market capitalization of $3.60 trillion, a price-to-earnings ratio of 36.55, a PEG ratio of 2.40 and a beta of 1.24. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping 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 business had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter in the prior year, the company posted $1.26 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. 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 through this hyperlink. In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. 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 through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 517,924 shares of company stock valued at $114,786,399. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on AAPL shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $261.00 target price on shares of Apple in a report on Tuesday, September 10th. Cfra lifted their target price on shares of Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Wedbush reaffirmed an “outperform” rating and set a $285.00 target price on shares of Apple in a report on Monday, September 9th. Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 target price on shares of Apple in a report on Tuesday, September 10th. Finally, Tigress Financial lifted their target price on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $239.27.

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.