Apple Inc. (NASDAQ:AAPL) is Koshinski Asset Management Inc.’s 3rd Largest Position

Koshinski Asset Management Inc. cut its holdings in Apple Inc. (NASDAQ:AAPL) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 163,641 shares of the iPhone maker’s stock after selling 4,508 shares during the period. Apple comprises about 3.3% of Koshinski Asset Management Inc.’s holdings, making the stock its 3rd largest position. Koshinski Asset Management Inc.’s holdings in Apple were worth $38,058,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in AAPL. Hershey Financial Advisers LLC purchased a new position in Apple during the second quarter worth approximately $42,000. Christopher J. Hasenberg Inc grew its position in Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after acquiring an additional 144 shares during the period. Hoese & Co LLP increased its stake in Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after acquiring an additional 57 shares during the last quarter. Sage Financial Group Inc. acquired a new position in shares of Apple in the 2nd quarter valued at about $206,000. Finally, Benchmark Wealth Management LLC purchased a new stake in shares of Apple during the 2nd quarter worth about $208,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AAPL shares. Bank of America reiterated a “buy” rating and set a $256.00 price objective on shares of Apple in a research note on Thursday, October 3rd. Wedbush restated an “outperform” rating and set a $300.00 price objective on shares of Apple in a research note on Friday. Monness Crespi & Hardt reiterated a “buy” rating and set a $245.00 target price on shares of Apple in a report on Monday, September 9th. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Morgan Stanley reissued an “overweight” rating and set a $273.00 target price on shares of Apple in a research report on Monday, November 25th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $235.68.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. The trade was a 35.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock valued at $92,007,745 in the last three months. Insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL stock opened at $239.59 on Tuesday. The firm has a 50-day moving average of $229.02 and a two-hundred day moving average of $220.02. The firm has a market capitalization of $3.62 trillion, a PE ratio of 39.41, a P/E/G ratio of 2.33 and a beta of 1.24. Apple Inc. has a one year low of $164.07 and a one year high of $240.79. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

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

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.42%. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Apple Company 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.