Kolinsky Wealth Management LLC Has $7.02 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Kolinsky Wealth Management LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 7.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,132 shares of the iPhone maker’s stock after purchasing an additional 2,106 shares during the period. Apple accounts for approximately 4.5% of Kolinsky Wealth Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Kolinsky Wealth Management LLC’s holdings in Apple were worth $7,021,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in AAPL. 1620 Investment Advisors Inc. boosted its stake in shares of Apple by 0.5% during the third quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock valued at $2,249,000 after purchasing an additional 45 shares during the period. Carolina Wealth Advisors LLC increased its stake in shares of Apple by 1.3% during the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after buying an additional 46 shares during the period. Verus Financial Partners Inc. raised its holdings in shares of Apple by 0.3% during the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after acquiring an additional 48 shares in the last quarter. Lowery Thomas LLC lifted its stake in Apple by 0.7% in the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after acquiring an additional 50 shares during the period. Finally, Latitude Advisors LLC increased its position in Apple by 0.3% during the 3rd quarter. Latitude Advisors LLC now owns 17,236 shares of the iPhone maker’s stock valued at $4,016,000 after purchasing an additional 50 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

Apple stock opened at $233.22 on Friday. 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 twelve month low of $164.07 and a twelve month high of $260.10. The company’s 50-day moving average price is $241.49 and its 200-day moving average price is $230.96. The company has a market cap of $3.51 trillion, a PE ratio of 37.02, a price-to-earnings-growth ratio of 2.36 and a beta of 1.20.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, equities research analysts forecast that Apple Inc. will post 7.33 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 13th. Investors of record on Monday, February 10th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. Apple’s payout ratio is 15.87%.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AAPL. TD Cowen reiterated a “buy” rating on shares of Apple in a report on Tuesday, January 28th. Rosenblatt Securities restated a “buy” rating and set a $262.00 target price on shares of Apple in a research note on Monday, January 27th. Loop Capital lowered shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price target for the company. in a research note on Tuesday, January 21st. Morgan Stanley increased their price objective on shares of Apple from $273.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, The Goldman Sachs Group lifted their target price on shares of Apple from $280.00 to $294.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average price target of $242.52.

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.