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

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Kessler Investment Group LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 98.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 619 shares of the iPhone maker’s stock after selling 40,477 shares during the period. Kessler Investment Group LLC’s holdings in Apple were worth $108,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Elk River Wealth Management LLC grew its position in Apple by 49.0% in the 1st quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock valued at $29,181,000 after acquiring an additional 54,989 shares in the last quarter. Piscataqua Savings Bank grew its holdings in shares of Apple by 1.5% in the first quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock valued at $8,302,000 after purchasing an additional 684 shares in the last quarter. Fountainhead AM LLC grew its holdings in shares of Apple by 11.6% in the fourth quarter. Fountainhead AM LLC now owns 45,544 shares of the iPhone maker’s stock valued at $7,732,000 after purchasing an additional 4,738 shares in the last quarter. Primoris Wealth Advisors LLC acquired a new position in shares of Apple in the fourth quarter valued at approximately $4,282,000. Finally, Stegent Equity Advisors Inc. acquired a new position in shares of Apple in the fourth quarter valued at approximately $2,588,000. Institutional investors and hedge funds own 57.98% of the company’s stock.

Apple Stock Up 1.1 %

AAPL stock opened at $150.17 on Friday. The company has a fifty day moving average price of $142.54 and a 200 day moving average price of $158.97. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The company has a market cap of $2.43 trillion, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 1.89 and a beta of 1.19. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.88.

Gables Capital Management Inc. Decreases Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 EPS for the quarter, beating the consensus estimate of $1.43 by $0.09. Apple had a net margin of 26.41% and a return on equity of 152.88%. The firm had revenue of $97.28 billion during the quarter, compared to the consensus estimate of $93.99 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. Apple’s revenue for the quarter was up 8.6% on a year-over-year basis. Sell-side analysts expect that Apple Inc. will post 6.09 earnings per share for the current year.

Apple declared that its board has authorized a share buyback program on Thursday, April 28th that authorizes the company to buyback $90.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Monday, May 9th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, May 6th. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. This is an increase from Apple’s previous quarterly dividend of $0.22. Apple’s dividend payout ratio is presently 14.94%.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the completion of the transaction, the senior vice president now owns 452,334 shares in the company, valued at approximately $73,151,454.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Apple news, SVP Deirdre O’brien sold 8,000 shares of the company’s stock in a transaction on Monday, April 18th. The shares were sold at an average price of $164.91, for a total transaction of $1,319,280.00. Following the completion of the transaction, the senior vice president now owns 136,290 shares in the company, valued at approximately $22,475,583.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the transaction, the senior vice president now owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. UBS Group set a $185.00 price objective on shares of Apple in a report on Tuesday, June 21st. Barclays dropped their price objective on shares of Apple from $167.00 to $166.00 and set an “equal weight” rating for the company in a report on Wednesday. Evercore ISI dropped their price objective on shares of Apple from $210.00 to $180.00 and set an “outperform” rating for the company in a report on Tuesday, June 28th. JPMorgan Chase & Co. set a $200.00 price objective on shares of Apple in a report on Friday, July 1st. Finally, Sanford C. Bernstein set a $170.00 price target on shares of Apple in a report on Monday, May 2nd. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $183.49.

Apple Company Profile

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Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.