Klingman & Associates LLC Has $62.99 Million Stake in Apple Inc. (NASDAQ:AAPL)

Klingman & Associates LLC grew its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 251,534 shares of the iPhone maker's stock after buying an additional 2,545 shares during the quarter. Apple makes up about 3.9% of Klingman & Associates LLC's investment portfolio, making the stock its 5th biggest position. Klingman & Associates LLC's holdings in Apple were worth $62,989,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AAPL. Drystone LLC bought a new stake in Apple during the 4th quarter worth about $25,000. SPX Gestao de Recursos Ltda acquired a new position in shares of Apple during the third quarter worth approximately $71,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Apple during the third quarter valued at approximately $77,000. ARK Investment Management LLC acquired a new stake in shares of Apple in the third quarter valued at approximately $110,000. Finally, Collier Financial bought a new position in Apple in the 4th quarter worth approximately $140,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Activity

In other Apple news, SVP Katherine L. Adams sold 38,822 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the transaction, the senior vice president now directly owns 179,158 shares in the company, valued at $40,072,269.86. The trade was a 17.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the sale, the chief executive officer now owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. This represents a 3.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 182,451 shares of company stock valued at $40,818,720 over the last three months. Insiders own 0.06% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on AAPL shares. Bank of America lowered their target price on Apple from $250.00 to $240.00 and set a "buy" rating for the company in a research note on Thursday. Evercore ISI boosted their price objective on Apple from $260.00 to $275.00 and gave the stock an "outperform" rating in a report on Tuesday, March 18th. JPMorgan Chase & Co. reduced their target price on shares of Apple from $270.00 to $245.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Jefferies Financial Group upgraded shares of Apple from an "underperform" rating to a "hold" rating and lowered their price target for the stock from $202.33 to $167.88 in a research report on Wednesday, April 9th. Finally, Barclays increased their price objective on shares of Apple from $183.00 to $197.00 and gave the company an "underweight" rating in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Apple has a consensus rating of "Moderate Buy" and an average price target of $233.88.

Apple Price Performance

Shares of AAPL opened at $208.37 on Friday. The company has a market cap of $3.13 trillion, a price-to-earnings ratio of 33.07, a PEG ratio of 2.44 and a beta of 1.26. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company's fifty day simple moving average is $216.41 and its 200 day simple moving average is $229.42. Apple Inc. has a 1-year low of $168.15 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data 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 net margin of 24.30% and a return on equity of 160.83%. On average, research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.48%. Apple's payout ratio is 15.87%.

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.

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