Apple Inc. (NASDAQ:AAPL) Shares Sold by Kennedy Investment Group

Kennedy Investment Group trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,108 shares of the iPhone maker’s stock after selling 999 shares during the quarter. Apple comprises approximately 7.8% of Kennedy Investment Group’s investment portfolio, making the stock its 2nd biggest position. Kennedy Investment Group’s holdings in Apple were worth $17,034,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Hershey Financial Advisers LLC bought a new stake in shares of Apple in the second quarter valued at approximately $42,000. Christopher J. Hasenberg Inc lifted 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 worth $69,000 after acquiring an additional 144 shares during the period. Cordant Inc. boosted its position in shares of Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after acquiring an additional 173 shares in the last quarter. Hoese & Co LLP increased its stake in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares during the last quarter. Finally, Sage Financial Group Inc. acquired a new position in shares of Apple during the 2nd quarter worth $206,000. 67.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on AAPL. Oppenheimer reissued a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. Monness Crespi & Hardt restated a “buy” rating and issued a $245.00 target price on shares of Apple in a research report on Monday, September 9th. Melius Research restated a “buy” rating and set a $265.00 price objective on shares of Apple in a research report on Tuesday, August 27th. Wells Fargo & Company increased their target price on Apple to $275.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Piper Sandler reiterated a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $236.78.

Apple Trading Up 1.2 %

Shares of AAPL opened at $251.04 on Tuesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $251.38. The company has a market capitalization of $3.79 trillion, a P/E ratio of 41.29, a P/E/G ratio of 2.41 and a beta of 1.23. The firm’s 50 day simple moving average is $233.09 and its 200 day simple moving average is $224.30.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same quarter last year, the firm earned $1.46 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. Sell-side analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is 16.45%.

Insider Activity

In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $111,148,695.84. This trade represents a 10.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 408,170 shares of company stock valued at $92,007,745. Insiders own 0.06% of the company’s stock.

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.