Kraft Asset Management LLC Purchases 820 Shares of Apple Inc. (NASDAQ:AAPL)

Kraft Asset Management LLC grew its position in Apple Inc. (NASDAQ:AAPL) by 56.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,267 shares of the iPhone maker’s stock after purchasing an additional 820 shares during the quarter. Apple makes up about 0.4% of Kraft Asset Management LLC’s investment portfolio, making the stock its 25th largest holding. Kraft Asset Management LLC’s holdings in Apple were worth $477,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cidel Asset Management Inc. grew its position in shares of Apple by 8.5% during the second quarter. Cidel Asset Management Inc. now owns 78,733 shares of the iPhone maker’s stock worth $16,583,000 after purchasing an additional 6,139 shares in the last quarter. Sunpointe LLC boosted its stake in Apple by 15.9% in the 2nd quarter. Sunpointe LLC now owns 29,017 shares of the iPhone maker’s stock worth $6,112,000 after purchasing an additional 3,979 shares during the period. Riverstone Advisors LLC grew its holdings in Apple by 2.3% during the 2nd quarter. Riverstone Advisors LLC now owns 15,316 shares of the iPhone maker’s stock valued at $3,226,000 after buying an additional 344 shares in the last quarter. Perfromance Wealth Partners LLC raised its position in shares of Apple by 0.6% during the second quarter. Perfromance Wealth Partners LLC now owns 4,121,295 shares of the iPhone maker’s stock valued at $868,027,000 after buying an additional 24,955 shares during the last quarter. Finally, Pallas Capital Advisors LLC boosted its position in shares of Apple by 7.5% during the second quarter. Pallas Capital Advisors LLC now owns 216,617 shares of the iPhone maker’s stock worth $48,561,000 after acquiring an additional 15,101 shares during the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Erste Group Bank upgraded shares of Apple from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Loop Capital upgraded Apple from a “hold” rating to a “buy” rating and boosted their target price for the stock from $170.00 to $300.00 in a research report on Monday, July 15th. Sanford C. Bernstein raised their price target on Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, June 21st. Tigress Financial upped their price objective on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. Finally, Maxim Group reissued a “hold” rating and issued a $203.00 target price on shares of Apple in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $239.17.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Apple news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction dated 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 transaction, 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 Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,884 shares of company stock valued at $23,723,887. Company insiders own 0.06% of the company’s stock.

Apple Stock Down 0.3 %

Shares of NASDAQ:AAPL opened at $228.20 on Friday. The business’s 50 day moving average is $222.41 and its 200 day moving average is $199.99. The stock has a market cap of $3.50 trillion, a P/E ratio of 35.49, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.23. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

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

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio is currently 15.55%.

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.