KDK Private Wealth Management LLC reduced its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 20.4% during the 1st quarter, HoldingsChannel reports. The firm owned 8,124 shares of the iPhone maker’s stock after selling 2,086 shares during the period. Apple accounts for 1.9% of KDK Private Wealth Management LLC’s portfolio, making the stock its 10th biggest position. KDK Private Wealth Management LLC’s holdings in Apple were worth $2,062,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of AAPL. Lifetime Wealth Management P.C. purchased a new position in Apple during the 4th quarter worth $41,000. ROSS JOHNSON & Associates LLC lifted its stake in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares during the period. LSV Asset Management purchased a new stake in shares of Apple in the fourth quarter valued at about $65,000. Timmons Wealth Management LLC purchased a new stake in shares of Apple in the fourth quarter valued at about $69,000. Finally, Inspire Investing LLC acquired a new position in shares of Apple during the fourth quarter worth about $76,000. Institutional investors and hedge funds own 67.73% of the company’s stock.
Apple Stock Performance
Shares of AAPL opened at $327.74 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. Apple Inc. has a 52-week low of $201.50 and a 52-week high of $334.99. The company has a 50-day simple moving average of $304.95 and a 200-day simple moving average of $277.89. The company has a market capitalization of $4.81 trillion, a PE ratio of 39.63, a P/E/G ratio of 2.84 and a beta of 1.10.
Apple Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.26. Apple’s payout ratio is 13.06%.
Analysts Set New Price Targets
Several research firms recently issued reports on AAPL. Robert W. Baird set a $310.00 price target on shares of Apple in a report on Friday, May 1st. Oppenheimer reaffirmed a “market perform” rating on shares of Apple in a report on Tuesday, June 9th. Tigress Financial reiterated a “strong-buy” rating and set a $375.00 target price (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. Maxim Group reissued a “buy” rating and set a $350.00 target price (up from $310.00) on shares of Apple in a research note on Tuesday, June 9th. Finally, Barclays reissued an “underweight” rating on shares of Apple in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $325.71.
Check Out Our Latest Analysis on AAPL
Insider Buying and Selling
In other news, insider Ben Borders sold 116 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the sale, the insider owned 38,713 shares of the company’s stock, valued at $11,425,754.82. The trade was a 0.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the sale, the chief financial officer directly owned 13,366 shares in the company, valued at $3,675,650. This trade represents a 10.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 2,924 shares of company stock valued at $825,546. Insiders own 0.06% of the company’s stock.
Key Apple News
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Apple is reportedly launching a new device leasing program with Klarna, a major change to how it sells hardware that could support upgrade demand and recurring device sales. Reuters: Apple to launch ‘Upgrade’ device leasing program to spur sales, Bloomberg News reports
- Positive Sentiment: HSBC upgraded Apple, saying it is entering a powerful new upgrade cycle supported by AI and a strong hardware roadmap. Barchart: HSBC Says Apple Is Entering a Powerful New Upgrade Cycle
- Positive Sentiment: Several commentators highlighted Apple’s pricing power, strong installed base, and relative insulation from the AI capex arms race as reasons investors are favoring AAPL over some other mega-cap tech names. MarketBeat: Apple Stock Sends Major Warning Signal as Momentum Hits Peak
About Apple
Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.
Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.
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