Apple Inc. (NASDAQ:AAPL) is KG&L Capital Management LLC’s 2nd Largest Position

KG&L Capital Management LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 56,016 shares of the iPhone maker’s stock after selling 2,203 shares during the quarter. Apple makes up approximately 4.1% of KG&L Capital Management LLC’s holdings, making the stock its 2nd largest position. KG&L Capital Management LLC’s holdings in Apple were worth $11,777,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Elser Financial Planning Inc bought a new stake in shares of Apple during the 2nd quarter valued at $5,271,000. Fifth Third Wealth Advisors LLC lifted its position in Apple by 174.4% during the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 243,613 shares of the iPhone maker’s stock valued at $51,310,000 after acquiring an additional 154,841 shares during the period. Orgel Wealth Management LLC boosted its stake in Apple by 4.4% during the second quarter. Orgel Wealth Management LLC now owns 8,495 shares of the iPhone maker’s stock worth $1,789,000 after acquiring an additional 359 shares in the last quarter. Iron Horse Wealth Management LLC boosted its stake in Apple by 16.5% during the second quarter. Iron Horse Wealth Management LLC now owns 4,571 shares of the iPhone maker’s stock worth $963,000 after acquiring an additional 647 shares in the last quarter. Finally, Legacy CG LLC grew its holdings in Apple by 7.1% in the second quarter. Legacy CG LLC now owns 25,191 shares of the iPhone maker’s stock worth $5,306,000 after purchasing an additional 1,670 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Trading Down 0.8 %

Shares of Apple stock opened at $226.47 on Tuesday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23. The company’s fifty day simple moving average is $222.25 and its 200-day simple moving average is $200.82. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The stock has a market capitalization of $3.47 trillion, a PE ratio of 35.22, a P/E/G ratio of 2.62 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.06. The company 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%. During the same period in the previous year, the business earned $1.26 earnings per share. Apple’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts anticipate that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s payout ratio is 15.55%.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value 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. Insiders have sold 113,884 shares of company stock valued at $23,723,887 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AAPL shares. KeyCorp reiterated a “hold” rating and set a $247.61 target price on shares of Apple in a report on Wednesday, August 28th. Bank of America reiterated a “buy” rating and set a $256.00 price objective on shares of Apple in a research note on Thursday, September 5th. Raymond James increased their target price on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. StockNews.com raised Apple from a “hold” rating to a “buy” rating in a research report on Friday. Finally, DA Davidson upgraded shares of Apple from a “neutral” rating to a “buy” rating and upped their price target for the stock from $200.00 to $230.00 in a research note on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.17.

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.