Apple Inc. (NASDAQ:AAPL) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC lowered its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 8.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 560,305 shares of the iPhone maker’s stock after selling 53,102 shares during the period. Apple makes up approximately 3.7% of Kingsview Wealth Management LLC’s holdings, making the stock its 2nd biggest position. Kingsview Wealth Management LLC’s holdings in Apple were worth $77,434,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Robinson Value Management Ltd. acquired a new position in shares of Apple during the 3rd quarter worth about $28,000. Hanseatic Management Services Inc. lifted its position in shares of Apple by 75.4% during the 3rd quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock worth $34,000 after purchasing an additional 107 shares during the last quarter. Cheyne Capital Management UK LLP lifted its position in shares of Apple by 200.0% during the 3rd quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $293,000 after purchasing an additional 550 shares during the last quarter. Ramsey Quantitative Systems acquired a new position in shares of Apple during the 2nd quarter worth about $55,000. Finally, Morgan Dempsey Capital Management LLC acquired a new position in shares of Apple during the 3rd quarter worth about $55,000. Institutional investors and hedge funds own 57.60% of the company’s stock.

Apple Stock Up 1.4 %

NASDAQ:AAPL opened at $152.59 on Wednesday. The stock’s fifty day moving average price is $144.98 and its two-hundred day moving average price is $145.33. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $179.61. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.89 and a current ratio of 0.94. The company has a market cap of $2.41 trillion, a price-to-earnings ratio of 25.91, a P/E/G ratio of 1.97 and a beta of 1.30.

Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The iPhone maker reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.05). Apple had a return on equity of 163.45% and a net margin of 24.56%. The firm had revenue of $117.15 billion for the quarter, compared to analyst estimates of $121.67 billion. During the same period in the prior year, the company posted $2.10 EPS. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, analysts anticipate that Apple Inc. will post 6.04 EPS for the current year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 16th. Shareholders of record on Monday, February 13th were issued a dividend of $0.23 per share. This is an increase from Apple’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, February 10th. This represents a $0.92 annualized dividend and a yield of 0.60%. Apple’s dividend payout ratio is currently 15.62%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $170.00 price objective on shares of Apple in a research report on Friday, March 10th. Oppenheimer cut their price objective on Apple from $190.00 to $170.00 and set an “outperform” rating for the company in a research report on Monday, December 12th. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 price target on shares of Apple in a report on Friday, February 3rd. Canaccord Genuity Group cut their price target on Apple from $200.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, January 18th. Finally, UBS Group set a $180.00 price target on Apple in a report on Tuesday, March 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average target price of $168.24.

About Apple

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Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.