Kelman Lazarov Inc. Has $2.21 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Kelman Lazarov Inc. lowered its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,025 shares of the iPhone maker’s stock after selling 280 shares during the period. Apple makes up 0.6% of Kelman Lazarov Inc.’s investment portfolio, making the stock its 25th biggest holding. Kelman Lazarov Inc.’s holdings in Apple were worth $2,212,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Robinson Value Management Ltd. bought a new stake in Apple in the 3rd quarter worth about $28,000. Hanseatic Management Services Inc. grew 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 valued at $34,000 after acquiring an additional 107 shares during the period. Cheyne Capital Management UK LLP grew 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 valued at $212,000 after acquiring an additional 550 shares during the period. Align Wealth Management LLC bought a new position in shares of Apple during the 4th quarter valued at approximately $55,000. Finally, HBC Financial Services PLLC grew its position in shares of Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 57.60% of the company’s stock.

Apple Price Performance

AAPL stock opened at $175.16 on Monday. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $176.39. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.56. The company has a fifty day simple moving average of $164.84 and a two-hundred day simple moving average of $150.62. The firm has a market capitalization of $2.76 trillion, a P/E ratio of 29.74, a price-to-earnings-growth ratio of 2.34 and a beta of 1.29.

Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings data on Thursday, May 4th. The iPhone maker reported $1.52 EPS for the quarter, beating the consensus estimate of $1.44 by $0.08. The business had revenue of $94.84 billion during the quarter, compared to analyst estimates of $92.84 billion. Apple had a net margin of 24.49% and a return on equity of 165.72%. Apple’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.52 earnings per share. Analysts anticipate that Apple Inc. will post 5.99 earnings per share for the current fiscal year.

Apple declared that its Board of Directors has initiated a share repurchase program on Thursday, May 4th that permits the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Monday, May 15th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Friday, May 12th. This is a positive change from Apple’s previous quarterly dividend of $0.23. Apple’s dividend payout ratio (DPR) is 16.30%.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 4,092 shares of the firm’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $173.26, for a total value of $708,979.92. Following the completion of the sale, the insider now owns 33,946 shares in the company, valued at approximately $5,881,483.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Apple news, SVP Deirdre O’brien sold 43,622 shares of the firm’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $165.41, for a total transaction of $7,215,515.02. Following the transaction, the senior vice president now owns 136,444 shares of the company’s stock, valued at approximately $22,569,202.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 4,092 shares of the firm’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $173.26, for a total transaction of $708,979.92. Following the transaction, the insider now directly owns 33,946 shares in the company, valued at approximately $5,881,483.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 439,529 shares of company stock worth $71,703,657. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on AAPL. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Apple from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, May 5th. StockNews.com initiated coverage on shares of Apple in a research note on Thursday. They issued a “hold” rating for the company. Robert W. Baird boosted their price objective on shares of Apple from $170.00 to $180.00 in a research report on Tuesday, May 2nd. Cowen reduced their price target on shares of Apple from $200.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday, February 3rd. Finally, Piper Sandler reduced their price target on shares of Apple from $195.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, May 5th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.74.

Apple Company Profile

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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.