United Capital Management of KS Inc. Has $12.06 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

United Capital Management of KS Inc. cut its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 1.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 88,236 shares of the iPhone maker’s stock after selling 1,051 shares during the period. Apple makes up about 5.7% of United Capital Management of KS Inc.’s investment portfolio, making the stock its largest position. United Capital Management of KS Inc.’s holdings in Apple were worth $12,064,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AAPL. Spence Asset Management bought a new position in Apple during the second quarter worth $49,000. HBC Financial Services PLLC boosted its position in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares during the period. Emerson Wealth LLC boosted its position in Apple by 27.0% during the second quarter. Emerson Wealth LLC now owns 518 shares of the iPhone maker’s stock worth $71,000 after purchasing an additional 110 shares during the period. Darrow Company Inc. bought a new position in Apple during the second quarter worth $107,000. Finally, Harbor Capital Advisors Inc. bought a new position in Apple during the first quarter worth $171,000. 57.72% of the stock is owned by institutional investors.

Insider Activity at Apple

In related news, SVP Deirdre O’brien sold 176,299 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $142.16, for a total value of $25,062,665.84. Following the sale, the senior vice president now directly owns 136,290 shares in the company, valued at $19,374,986.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Deirdre O’brien sold 176,299 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $142.16, for a total value of $25,062,665.84. Following the sale, the senior vice president now directly owns 136,290 shares in the company, valued at $19,374,986.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris Kondo sold 20,200 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total value of $3,004,144.00. Following the completion of the sale, the insider now owns 31,505 shares in the company, valued at $4,685,423.60. The disclosure for this sale can be found here. Insiders have sold 380,851 shares of company stock worth $56,707,789 over the last ninety days. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $151.07 on Friday. The stock has a market cap of $2.40 trillion, a P/E ratio of 24.73, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.95. The stock’s 50-day moving average is $146.62 and its 200-day moving average is $149.67. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.02. The company had revenue of $90.15 billion for the quarter, compared to analysts’ expectations of $88.77 billion. Apple had a return on equity of 160.90% and a net margin of 25.31%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.24 earnings per share. Equities research analysts anticipate that Apple Inc. will post 6.26 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s payout ratio is presently 15.06%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AAPL. Deutsche Bank Aktiengesellschaft dropped their target price on Apple from $175.00 to $170.00 and set a “buy” rating for the company in a report on Friday, October 28th. Morgan Stanley dropped their target price on Apple from $177.00 to $175.00 and set an “overweight” rating for the company in a report on Tuesday, November 8th. Robert W. Baird dropped their target price on Apple from $185.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, October 28th. Rosenblatt Securities reissued a “buy” rating and set a $189.00 target price on shares of Apple in a report on Tuesday, November 8th. Finally, UBS Group set a $180.00 target price on Apple in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $176.26.

About Apple

(Get Rating)

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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

See Also

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLGet Rating).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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