Apple Inc. (NASDAQ:AAPL) Holdings Trimmed by King Wealth Management Group

King Wealth Management Group trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 124,360 shares of the iPhone maker’s stock after selling 880 shares during the period. Apple accounts for 4.5% of King Wealth Management Group’s investment portfolio, making the stock its 5th biggest holding. King Wealth Management Group’s holdings in Apple were worth $28,976,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bull Oak Capital LLC grew its holdings in shares of Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares in the last quarter. Hershey Financial Advisers LLC purchased a new position in shares of Apple during the 2nd quarter valued at $42,000. Christopher J. Hasenberg Inc grew its holdings in shares of Apple by 88.9% during the 3rd 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 in the last quarter. ARK Investment Management LLC purchased a new position in shares of Apple during the 3rd quarter valued at $110,000. Finally, Cordant Inc. grew its holdings in shares of Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after acquiring an additional 173 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Apple

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Citigroup upped their price objective on shares of Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Monness Crespi & Hardt upped their price objective on shares of Apple to $245.00 and gave the stock a “buy” rating in a report on Wednesday. Maxim Group upped their price objective on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Wells Fargo & Company upped their price objective on shares of Apple to $275.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Bank of America reiterated a “buy” rating and issued a $256.00 price objective on shares of Apple in a report on Friday, January 3rd. Four analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $237.99.

Apple Stock Up 0.5 %

Shares of AAPL stock opened at $223.83 on Thursday. The firm has a market capitalization of $3.37 trillion, a P/E ratio of 36.81, a PEG ratio of 2.25 and a beta of 1.20. The firm’s fifty day moving average price is $241.09 and its two-hundred day moving average price is $230.82. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. 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 results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the prior year, the business earned $1.46 EPS. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is 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.