Kaydan Wealth Management Inc. Takes $1.79 Million Position in Apple Inc. (NASDAQ:AAPL)

Kaydan Wealth Management Inc. purchased a new stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 13,759 shares of the iPhone maker’s stock, valued at approximately $1,788,000. Apple accounts for about 0.7% of Kaydan Wealth Management Inc.’s investment portfolio, making the stock its 15th biggest position.

Other hedge funds also recently modified their holdings of the company. IFM Investors Pty Ltd grew its holdings in shares of Apple by 20.0% in the 1st quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock worth $456,728,000 after acquiring an additional 435,891 shares during the last quarter. Ironwood Wealth Management LLC. grew its holdings in shares of Apple by 0.4% in the 1st quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock worth $42,016,000 after acquiring an additional 1,040 shares during the last quarter. Markel Corp grew its holdings in shares of Apple by 0.7% in the 1st quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock worth $210,752,000 after acquiring an additional 8,450 shares during the last quarter. Camden Capital LLC grew its holdings in shares of Apple by 9.2% in the 1st quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock worth $27,305,000 after acquiring an additional 13,200 shares during the last quarter. Finally, Harbor Island Capital LLC grew its holdings in shares of Apple by 0.3% in the 1st quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock worth $23,629,000 after acquiring an additional 400 shares during the last quarter. 57.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of recent research reports. DA Davidson lifted their target price on Apple from $173.00 to $193.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Cowen decreased their target price on Apple from $200.00 to $195.00 and set an “outperform” rating for the company in a research report on Friday, February 3rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $195.00 target price on shares of Apple in a research report on Thursday, March 2nd. Canaccord Genuity Group raised their target price on Apple from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, May 5th. Finally, Needham & Company LLC raised their target price on Apple from $170.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, May 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average target price of $174.74.

Apple Trading Down 0.5 %

Apple stock opened at $174.20 on Tuesday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.88 and a current ratio of 0.94. The business’s 50-day simple moving average is $165.32 and its 200-day simple moving average is $150.87. The firm has a market capitalization of $2.74 trillion, a PE ratio of 29.58, a PEG ratio of 2.34 and a beta of 1.29. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $176.39.

Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The iPhone maker reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. The business had revenue of $94.84 billion for the quarter, compared to analyst estimates of $92.84 billion. Apple had a return on equity of 165.72% and a net margin of 24.49%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 earnings per share. Equities research analysts forecast that Apple Inc. will post 5.99 earnings per share for the current year.

Apple Increases Dividend

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

Apple declared that its Board of Directors has approved a stock repurchase program on Thursday, May 4th that allows the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Apple

In related news, COO Jeffrey E. Williams sold 187,730 shares of the business’s stock in a transaction dated Wednesday, March 22nd. The stock was sold at an average price of $159.76, for a total transaction of $29,991,744.80. Following the transaction, the chief operating officer now directly owns 489,816 shares in the company, valued at $78,253,004.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Apple news, SVP Deirdre O’brien sold 43,622 shares of Apple stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $165.41, for a total transaction of $7,215,515.02. Following the sale, the senior vice president now directly owns 136,444 shares of the company’s stock, valued at $22,569,202.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 187,730 shares of Apple stock in a transaction that occurred on Wednesday, March 22nd. The shares were sold at an average price of $159.76, for a total value of $29,991,744.80. Following the sale, the chief operating officer now directly owns 489,816 shares in the company, valued at $78,253,004.16. The disclosure for this sale can be found here. Insiders have sold 439,529 shares of company stock worth $71,703,657 over the last three months. Company insiders own 0.06% of the company’s stock.

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.