Kaydan Wealth Management Inc. Sells 83 Shares of Apple Inc. (NASDAQ:AAPL)

Kaydan Wealth Management Inc. trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,140 shares of the iPhone maker’s stock after selling 83 shares during the period. Apple accounts for about 0.8% of Kaydan Wealth Management Inc.’s portfolio, making the stock its 19th biggest holding. Kaydan Wealth Management Inc.’s holdings in Apple were worth $2,539,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Grove Bank & Trust lifted its holdings in Apple by 1.5% during the 4th quarter. Grove Bank & Trust now owns 175,985 shares of the iPhone maker’s stock worth $44,070,000 after purchasing an additional 2,662 shares during the last quarter. Brady Martz Wealth Solutions LLC bought a new stake in Apple during the fourth quarter worth about $3,552,000. Cambridge Advisors Inc. boosted its position in shares of Apple by 0.4% during the 4th quarter. Cambridge Advisors Inc. now owns 40,276 shares of the iPhone maker’s stock worth $10,086,000 after acquiring an additional 166 shares in the last quarter. Renaissance Investment Group LLC boosted its holdings in shares of Apple by 0.6% in the 4th quarter. Renaissance Investment Group LLC now owns 85,198 shares of the iPhone maker’s stock valued at $21,335,000 after purchasing an additional 480 shares in the last quarter. Finally, My Legacy Advisors LLC grew its position in Apple by 4.0% in the fourth quarter. My Legacy Advisors LLC now owns 36,812 shares of the iPhone maker’s stock valued at $8,757,000 after acquiring an additional 1,402 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, February 19th. Redburn Partners set a $230.00 target price on shares of Apple in a research note on Friday, January 31st. Barclays upped their price target on shares of Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Bank of America boosted their price objective on Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, Evercore ISI increased their target price on Apple to $260.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $243.88.

Insider Activity

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

Apple Price Performance

Shares of NASDAQ:AAPL opened at $235.33 on Friday. The stock’s 50 day moving average is $237.89 and its 200-day moving average is $233.94. Apple Inc. has a twelve month low of $164.08 and a twelve month high of $260.10. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $3.54 trillion, a price-to-earnings ratio of 37.35, a PEG ratio of 2.44 and a beta of 1.20.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share 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%. Sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

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