Kanawha Capital Management LLC decreased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 326,534 shares of the iPhone maker's stock after selling 4,267 shares during the period. Apple accounts for about 6.4% of Kanawha Capital Management LLC's holdings, making the stock its 2nd biggest position. Kanawha Capital Management LLC's holdings in Apple were worth $81,771,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAPL. O Connor Financial Group LLC grew its stake in shares of Apple by 1.2% in the fourth quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker's stock worth $896,000 after purchasing an additional 41 shares during the last quarter. 1620 Investment Advisors Inc. raised its holdings in Apple by 0.5% in the third quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker's stock worth $2,249,000 after purchasing an additional 45 shares in the last quarter. Menard Financial Group LLC lifted its position in Apple by 0.4% during the 3rd quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker's stock valued at $2,848,000 after acquiring an additional 48 shares during the period. Hanseatic Management Services Inc. lifted its holdings in shares of Apple by 1.3% during the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock valued at $945,000 after purchasing an additional 48 shares during the last quarter. Finally, Family Capital Management Inc. boosted its holdings in Apple by 0.3% in the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock worth $4,235,000 after acquiring an additional 48 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on AAPL shares. The Goldman Sachs Group reiterated a "buy" rating on shares of Apple in a research note on Wednesday, February 19th. Morgan Stanley cut their target price on shares of Apple from $252.00 to $220.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Raymond James lifted their price objective on Apple to $250.00 and gave the stock a "buy" rating in a research note on Friday, April 4th. Citigroup lowered their price target on Apple from $275.00 to $245.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Evercore ISI lifted their price objective on shares of Apple from $260.00 to $275.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 18th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Apple has a consensus rating of "Moderate Buy" and a consensus target price of $235.85.
View Our Latest Research Report on Apple
Apple Stock Up 1.3 %
NASDAQ:AAPL traded up $2.52 during midday trading on Friday, reaching $196.79. 51,328,536 shares of the stock traded hands, compared to its average volume of 56,825,645. The stock has a market capitalization of $2.96 trillion, a PE ratio of 31.24, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. Apple Inc. has a 12-month low of $164.77 and a 12-month high of $260.10. 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 business has a 50-day moving average of $219.65 and a two-hundred day moving average of $230.08.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Monday, February 10th. Apple's dividend payout ratio (DPR) is currently 15.87%.
Insiders Place Their Bets
In other Apple news, CEO Timothy D. Cook sold 108,136 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the sale, the chief executive officer now directly owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. This trade represents a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the sale, the chief operating officer now directly owns 390,059 shares in the company, valued at $87,377,116.59. This represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 182,451 shares of company stock valued at $40,818,720. Company insiders own 0.06% of the company's stock.
About Apple
(
Free Report)
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.
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