Kennedy Investment Group Has $15.61 Million Position in Apple Inc. (NASDAQ:AAPL)

Kennedy Investment Group decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 0.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 74,107 shares of the iPhone maker’s stock after selling 387 shares during the quarter. Apple accounts for approximately 7.9% of Kennedy Investment Group’s holdings, making the stock its 2nd biggest position. Kennedy Investment Group’s holdings in Apple were worth $15,608,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AAPL. Christopher J. Hasenberg Inc bought a new stake in shares of Apple during the 1st quarter valued at about $35,000. Fidelis Capital Partners LLC grew its position in Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. purchased a new stake in Apple during the fourth quarter valued at approximately $39,000. University of Texas Texas AM Investment Managment Co. grew its position in shares of Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after acquiring an additional 368 shares during the period. Finally, Clarity Asset Management Inc. purchased a new position in Apple during the fourth quarter valued at $85,000. Institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $222.50 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The stock’s fifty day moving average is $223.14 and its 200 day moving average is $198.63. The firm has a market capitalization of $3.38 trillion, a PE ratio of 34.60, a PEG ratio of 2.62 and a beta of 1.24. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. The firm had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $1.26 EPS. On average, sell-side analysts anticipate that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Apple’s dividend payout ratio is 15.55%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Moffett Nathanson began coverage on Apple in a research note on Monday, August 19th. They issued a “neutral” rating and a $211.00 price objective on the stock. Barclays dropped their price target on shares of Apple from $187.00 to $186.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. UBS Group raised their price objective on shares of Apple from $190.00 to $236.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Tuesday, September 10th. Finally, TD Cowen raised their price target on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $238.62.

Insider Transactions at Apple

In other Apple news, insider Chris Kondo sold 5,178 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the sale, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction dated Monday, August 5th. The shares were 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 owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is currently owned by company insiders.

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.