Apple Inc. (NASDAQ:AAPL) Stock Position Reduced by KFG Wealth Management LLC

KFG Wealth Management LLC lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 19.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,598 shares of the iPhone maker’s stock after selling 4,334 shares during the period. Apple comprises 0.8% of KFG Wealth Management LLC’s portfolio, making the stock its 24th largest position. KFG Wealth Management LLC’s holdings in Apple were worth $4,407,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. High Net Worth Advisory Group LLC raised its position in shares of Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after purchasing an additional 1,066 shares during the period. Amara Financial LLC. acquired a new stake in shares of Apple during the 3rd quarter worth approximately $288,000. Sterling Investment Counsel LLC increased its position in Apple by 3.8% in the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after acquiring an additional 2,565 shares during the period. Silicon Valley Capital Partners increased its position in Apple by 12.8% in the 3rd quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock valued at $59,122,000 after acquiring an additional 28,799 shares during the period. Finally, Catalyst Financial Partners LLC increased its position in Apple by 4.2% in the 3rd quarter. Catalyst Financial Partners LLC now owns 96,589 shares of the iPhone maker’s stock valued at $22,505,000 after acquiring an additional 3,935 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on AAPL shares. Bank of America raised their target price on Apple from $253.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Oppenheimer cut Apple from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. raised their target price on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Rosenblatt Securities restated a “buy” rating and issued a $262.00 target price on shares of Apple in a research report on Monday, January 27th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Apple in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $243.65.

Apple Stock Performance

Shares of Apple stock opened at $212.69 on Wednesday. The stock has a market cap of $3.20 trillion, a PE ratio of 33.76, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. The business has a fifty day simple moving average of $233.31 and a 200-day simple moving average of $233.60. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a 12 month low of $164.08 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, sell-side analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.47%. Apple’s dividend payout ratio (DPR) is presently 15.87%.

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.