Kelly Financial Services LLC Decreases Stock Position in Apple Inc. (NASDAQ:AAPL)

Kelly Financial Services LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 4.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 16,306 shares of the iPhone maker’s stock after selling 841 shares during the period. Apple makes up approximately 1.2% of Kelly Financial Services LLC’s investment portfolio, making the stock its 23rd largest holding. Kelly Financial Services LLC’s holdings in Apple were worth $4,083,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Bull Oak Capital LLC lifted its position in Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares during the period. Hershey Financial Advisers LLC purchased a new position in shares of Apple in the second quarter worth about $42,000. Christopher J. Hasenberg Inc lifted its holdings in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the period. SPX Gestao de Recursos Ltda acquired a new stake in shares of Apple during the third quarter worth about $71,000. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in Apple in the third quarter valued at approximately $77,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Transactions at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the transaction, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AAPL shares. Sanford C. Bernstein raised their price target on shares of Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Jefferies Financial Group reissued an “underperform” rating on shares of Apple in a report on Wednesday, February 19th. Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Apple in a research report on Friday, January 31st. Evercore ISI increased their price target on Apple to $260.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have 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 $243.88.

Apple Stock Down 0.2 %

NASDAQ AAPL opened at $235.33 on Friday. The business has a fifty day moving average price of $237.89 and a 200 day moving average price of $233.94. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The company has a market cap of $3.54 trillion, a P/E ratio of 37.35, a P/E/G ratio of 2.44 and a beta of 1.20. Apple Inc. has a one year low of $164.08 and a one year high of $260.10.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio (DPR) is 15.87%.

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.