Koss Olinger Consulting LLC Reduces Stock Position in Apple Inc. (NASDAQ:AAPL)

Koss Olinger Consulting LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 6.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,753 shares of the iPhone maker’s stock after selling 942 shares during the quarter. Apple comprises 0.4% of Koss Olinger Consulting LLC’s investment portfolio, making the stock its 22nd biggest position. Koss Olinger Consulting LLC’s holdings in Apple were worth $2,017,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in Apple in the 4th quarter worth approximately $25,228,507,000. Aaron Wealth Advisors LLC increased its holdings in shares of Apple by 30,391.8% in the 1st quarter. Aaron Wealth Advisors LLC now owns 26,075,085 shares of the iPhone maker’s stock worth $149,333,000 after buying an additional 25,989,570 shares during the last quarter. State Street Corp increased its holdings in shares of Apple by 1.8% in the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after buying an additional 10,951,705 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Apple by 31.7% in the 1st quarter. Capital Research Global Investors now owns 38,903,911 shares of the iPhone maker’s stock worth $6,793,041,000 after buying an additional 9,354,484 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Apple by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after purchasing an additional 8,734,393 shares during the last quarter. 57.72% of the stock is currently owned by hedge funds and other institutional investors.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $154.48 on Tuesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The company has a market capitalization of $2.48 trillion, a P/E ratio of 25.49, a P/E/G ratio of 1.95 and a beta of 1.23. The firm’s 50 day simple moving average is $159.65 and its two-hundred day simple moving average is $155.94.

Apple (NASDAQ:AAPLGet Rating) last released its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping the consensus estimate of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. During the same quarter in the previous year, the firm earned $1.30 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. Research analysts expect that Apple Inc. will post 6.11 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Friday, August 5th. Apple’s payout ratio is 15.18%.

Insider Activity at Apple

In related news, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the sale, the senior vice president now directly owns 427,334 shares in the company, valued at approximately $70,411,823.18. 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 equities research analysts have issued reports on the stock. Wedbush raised their price target on shares of Apple from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, August 17th. Barclays set a $169.00 price target on shares of Apple in a report on Wednesday, September 14th. Deutsche Bank Aktiengesellschaft set a $175.00 target price on shares of Apple in a research report on Monday, August 1st. set a $175.00 target price on shares of Apple in a research report on Friday, July 29th. Finally, Monness Crespi & Hardt assumed coverage on shares of Apple in a research report on Thursday, September 8th. They issued a “buy” rating and a $174.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.52.

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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