Apple Inc. (NASDAQ:AAPL) Shares Sold by KG&L Capital Management LLC

KG&L Capital Management LLC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 6.7% in the third quarter, HoldingsChannel.com reports. The fund owned 78,540 shares of the iPhone maker’s stock after selling 5,599 shares during the quarter. Apple comprises about 6.1% of KG&L Capital Management LLC’s investment portfolio, making the stock its 2nd biggest holding. KG&L Capital Management LLC’s holdings in Apple were worth $10,854,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MKT Advisors LLC grew its position in Apple by 0.5% in the 2nd quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock valued at $1,777,000 after buying an additional 60 shares in the last quarter. Your Advocates Ltd. LLP grew its position in Apple by 1.0% in the 2nd quarter. Your Advocates Ltd. LLP now owns 6,339 shares of the iPhone maker’s stock valued at $867,000 after buying an additional 65 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in Apple by 6.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 1,046 shares of the iPhone maker’s stock valued at $143,000 after buying an additional 66 shares in the last quarter. Aufman Associates Inc grew its position in Apple by 0.9% in the 2nd quarter. Aufman Associates Inc now owns 7,674 shares of the iPhone maker’s stock valued at $1,049,000 after buying an additional 66 shares in the last quarter. Finally, Lake Point Wealth Management grew its position in Apple by 1.7% in the 2nd quarter. Lake Point Wealth Management now owns 4,025 shares of the iPhone maker’s stock valued at $550,000 after buying an additional 67 shares in the last quarter. Institutional investors and hedge funds own 57.60% of the company’s stock.

Insiders Place Their Bets

In other Apple news, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Chris Kondo sold 20,200 shares of Apple stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the sale, the insider now owns 31,505 shares of the company’s stock, valued at approximately $4,685,423.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $17,259,454.35. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. JPMorgan Chase & Co. set a $180.00 price objective on Apple and gave the stock an “overweight” rating in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $170.00 price target on shares of Apple in a report on Tuesday, November 8th. Fundamental Research lifted their price objective on shares of Apple to $168.50 and gave the stock a “buy” rating in a research note on Tuesday, November 8th. Oppenheimer reduced their target price on shares of Apple from $190.00 to $170.00 and set an “outperform” rating for the company in a report on Monday, December 12th. Finally, Sanford C. Bernstein dropped their price target on Apple from $170.00 to $125.00 in a report on Monday, January 9th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $166.73.

Apple Stock Up 1.9 %

Shares of AAPL stock opened at $137.87 on Friday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.85 and a current ratio of 0.88. The stock’s 50 day simple moving average is $138.72 and its 200 day simple moving average is $148.14. The company has a market capitalization of $2.18 trillion, a price-to-earnings ratio of 22.56, a PEG ratio of 1.74 and a beta of 1.24. Apple Inc. has a twelve month low of $124.17 and a twelve month high of $179.61.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, topping the consensus estimate of $1.26 by $0.03. The company had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. Apple had a return on equity of 160.90% and a net margin of 25.31%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.24 EPS. As a group, research analysts predict that Apple Inc. will post 6.19 EPS for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s dividend payout ratio is currently 15.06%.

Apple Profile

(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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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