Kaydan Wealth Management Inc. Sells 235 Shares of Apple Inc. (NASDAQ:AAPL)

Kaydan Wealth Management Inc. lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,223 shares of the iPhone maker’s stock after selling 235 shares during the quarter. Apple accounts for 0.7% of Kaydan Wealth Management Inc.’s holdings, making the stock its 20th biggest position. Kaydan Wealth Management Inc.’s holdings in Apple were worth $2,382,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Verus Financial Partners Inc. grew its position in Apple by 0.3% during the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after buying an additional 48 shares during the period. Brown Financial Advisory boosted its stake in shares of Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after acquiring an additional 50 shares in the last quarter. Core Wealth Management Inc. grew its position in shares of Apple by 1.7% during the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after acquiring an additional 50 shares during the period. Lowery Thomas LLC increased its stake in shares of Apple by 0.7% in the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock valued at $1,602,000 after purchasing an additional 50 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. raised its holdings in Apple by 1.1% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after purchasing an additional 51 shares during the period. Institutional investors own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on AAPL shares. Moffett Nathanson reduced their price target on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a research report on Tuesday, November 19th. Morgan Stanley restated an “overweight” rating and set a $273.00 price target on shares of Apple in a research report on Monday, November 25th. Maxim Group increased their price objective on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday, November 1st. Citigroup boosted their target price on Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Wedbush restated an “outperform” rating and issued a $300.00 price target on shares of Apple in a research report on Friday, November 29th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.68.

Apple Stock Down 0.1 %

Apple stock opened at $242.84 on Monday. The stock has a 50-day simple moving average of $230.53 and a 200-day simple moving average of $221.83. The company has a market capitalization of $3.67 trillion, a P/E ratio of 39.94, a PEG ratio of 2.38 and a beta of 1.23. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $244.63.

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

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is presently 16.45%.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the transaction, the senior vice president now owns 187,043 shares in the company, valued at $42,309,126.60. This trade represents a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 408,170 shares of company stock worth $92,007,745. Company insiders own 0.06% of the company’s stock.

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.